Queenston Mining Inc.
TSX : QMI
FRANKFURT : QMI
BERLIN : QMI

Queenston Mining Inc.

September 10, 2007 09:44 ET

Queenston Reports 10.8 g/t Au (0.31 oz/ton) Over 16.5 m (54.1 ft) Extending Upper Beaver to Depth

TORONTO, ONTARIO--(Marketwire - Sept. 10, 2007) - QUEENSTON MINING INC. (TSX:QMI)(FRANKFURT:QMI)(STUTTGART:QMI)(BERLIN:QMI) ("Queenston" or "the Company") announces the latest series of drill results on its 100% owned Upper Beaver property located in Kirkland Lake, Ontario. The drilling is part of the 44,000 m resource definition program in progress to complete a National Instrument 43-101 ("NI 43-101") mineral resource. The drilling program includes both "infill holes" (drilled between existing holes) and "step-out holes" (drilled to extend known zones of mineralization).

Highlights:

- "Step-out" hole UB07-100 intersects 10.8 g/t Au (0.31 oz/ton) over 16.5 m (54.1 ft) including 30.6 g/t Au (0.89 oz/ton) over 4.0 m (13.1 ft) at vertical depth of 820 m.

- "Infill" hole UB07-101 intersects 34.6 g/t Au (1.0 oz/ton) over 1.9 m (6.2 ft)

- "Infill" hole UB07-102 intersects 19.2 g/t Au (0.56 oz/ton) over 0.7 m (2.3 ft)

In the current phase of the program 30 holes have now been completed (27,837 m) targeting a large mineralized corridor containing a series of gold-copper zones below the past producing Upper Beaver mine. Step-out hole UB07-100 represents the deepest intersection within the mineralized corridor extending the Porphyry Zone to a vertical depth of 820 m. The intersection of 10.8 g/t Au with 0.2% Cu over 16.5 m includes two high-grade intervals containing visible gold assaying 30.6 g/t Au (0.89 oz/ton) over 4.0 m (13.1 ft) and 26.5 g/t Au (0.77 oz/ton) with 0.6% Cu over 1.9 m (6.2 ft). UB07-100 intersected the zone in the central portion of the mineralized corridor some 100 m deeper than previous hole UB07-95 (4.2 g/t Au (0.12 oz/ton) with 0.6% Cu over 18.2 m (59.7 ft)) and 140 m deeper than UB07-98 (11.6 g/t Au (0.34 oz/ton) with 1.0% Cu over 12.1 m (39.7 ft)). The Porphyry Zone continues to remain open to depth and deeper drilling is planned.



Table of Upper Beaver Assay Results

---------------------------------------------------------------------------
Hole # Dip Az From To Inter- Estimated Cu Au Zone
(deg- (deg- (m) (m) val TW (m) (%) (g/t)
rees) rees) (m)
---------------------------------------------------------------------------
UB07-100 -68 140 661.1 661.6 0.5 0.3 - 7.7 Syenite
---------------------------------------------------------------------------
871.5 888.0 16.5 11.6 0.2 10.8 Upper Porphyry
---------------------------------------------------------------------------
including 871.5 875.5 4.0 2.8 0.1 30.6 Upper Porphyry
---------------------------------------------------------------------------
and 886.1 888.0 1.9 1.3 0.6 26.5 Upper Porphyry
---------------------------------------------------------------------------
UB07-101 -55 140 294.9 296.8 1.9 1.4 - 34.6 Upper Porphyry
---------------------------------------------------------------------------
356.0 365.0 9.0 6.6 - 1.3 Lower Gauthier
---------------------------------------------------------------------------
647.5 5654.0 4.6 3.5 - 1.5 Syenite
Breccia
---------------------------------------------------------------------------
UB07-102 -65 140 623.7 649.8 26.1 20.0 0.1 2.4 Upper Porphyry
---------------------------------------------------------------------------
including 628.0 631.0 3.0 2.3 0.1 5.6 Upper Porphyry
---------------------------------------------------------------------------
and 638.7 649.8 11.1 8.5 0.3 3.1 Lower Porphyry
---------------------------------------------------------------------------
including 640.7 641.4 0.7 0.5 0.8 19.2 Lower Porphyry
---------------------------------------------------------------------------
and 645.0 646.0 1.0 0.7 0.5 7.5 Lower Porphyry
---------------------------------------------------------------------------
870.4 873.0 2.6 2.4 5.0 0.1 Syenite
Breccia
---------------------------------------------------------------------------
UB07-103 -63 142 228.0 235.0 7.0 4.9 - 2.1 North Contact
---------------------------------------------------------------------------
324.0 325.3 1.3 1.0 - 7.3 Upper Porphyry
---------------------------------------------------------------------------
335.0 350.0 15.0 11.0 0.1 2.0 Lower Porphyry
---------------------------------------------------------------------------
including 344.0 350.0 6.0 4.4 0.1 2.9 Lower Porphyry
---------------------------------------------------------------------------


Infill" holes UB07-101, -102 and -103 continued to encounter mineralization consistent with previous results including Porphyry Zone intersections of 34.6 g/t Au (1.0 oz/ton) over 1.9 m (6.2 ft) , 3.1 g/t Au (0.1 oz/ton) with 0.3% Cu over 11.1 m (36.4 ft) and 7.3 g/t Au (0.21 oz/ton) over 1.3 m (4.3 ft) respectively. Hole UB07-99 was abandoned in a fault zone prior to reaching its target.

Below the mine workings the mineralized corridor has now been defined by drilling to measure 500 m long, 500 m vertical and 300 m thick. Attached to this news release and available on the Company's web site is a vertical longitudinal section of the Porphyry Zone (the most continuous zone in the mineralized corridor) displaying the location of the recently completed holes. Three drills continue to target the mineralized corridor on the Upper Beaver property.

Wayne Benham, P. Geo. planned and supervised the Upper Beaver drilling program employing a QA/QC program consistent with NI 43-101 and industry best practices. The drill core is logged and split with half-core samples shipped to Swastika Laboratories of Swastika, Ontario and analyzed employing the appropriate gold fire assaying technique. For QA/QC purposes the Company as well as the lab submits standards and blanks every 25 samples. Approximately 5% of sample rejects and/or pulps are sent to a second lab, Labratoire Expert Inc. of Rouyn Noranda for check assaying.

Update on Deep Surface Drilling Program, Amalgamated Kirkland Property

The Company is preparing for a program of deep drilling on the 100% owned Amalgamated Kirkland property located in the western portion of the camp adjacent to the Macassa mine property operated by Kirkland Lake Gold Inc. ("KL Gold"). The program is targeting the South Mine Complex ("SMC"), a new discovery in the camp, that is being explored and developed on the Macassa mine property. To date, KL Gold has announced in a news release dated July 18, 2007, NI 43-101 compliant, proven and probable reserves plus measured and indicated resources in the SMC of 502,000 oz. of Au (698,000 tons grading 0.72 oz/ton (24.7 g/t)) and inferred resources of 526,000 oz. (622,000 tons grading 0.85 oz/ton (29.1 g/t)). KL Gold continues to explore and expand the SMC on the Macassa property and in joint venture with Queenston is advancing a 200 m (650 ft) long crosscut on the 5300' level towards the jointly owned South Claims property where a program of underground drilling will target the down-dip projection of the SMC later this year. The joint ventured South Claims are adjacent to and west of the Amalgamated Kirkland property.

The Amalgamated Kirkland property hosts the AK gold deposit discovered by Battle Mountain Canada Inc. and further defined by Cyprus Canada in the 1990's. This deposit extends from surface to -350 m and contains an historic, inferred mineral resource of 2.6 million tonnes grading 4.5 g/t Au. This resource was calculated by Wayne Benham, Chief Geologist of Queenston in 1997 prior to the implementation of NI 43-101 and should not be relied upon as it has not been verified by a qualified person.

The deep drilling program will target the SMC on the northwest portion of the Amalgamated Kirkland property approximately 200 m (650 ft) southeast and down-dip of KL Gold drill hole 52-762. This hole assayed 18.2 g/t Au (0.53 oz/ton) over a core length of 14.2 m (46.5 ft) or 5.8 m (18.9 ft) true width (announced in their news release dated April 18, 2007). The South Zone is estimated to project onto the Amalgamated Kirkland property at approximately 1,800 m (6,000 ft) vertically in the area of the proposed surface drilling program.

About Queenston

Queenston has assembled significant land packages in proven mining camps and its strategy is to return to producer status. The first step of this procedure is in progress through the advancement of its primary gold assets in Kirkland Lake, Ontario (Upper Beaver, McBean, Anoki) and in Cadillac, Quebec (Ironwood) towards NI 43-101 resource status. Queenston also maintains a strong portfolio of both advanced and grassroots exploration projects including the joint venture with Kirkland Lake Gold Inc. in exploring the camp's newest gold discovery. The Company is well financed with working capital of $14 million to meet its expenditure plans.

This news release was reviewed by Queenston's Chief Geologist and qualified person Wayne Benham, P. Geo.

Forward Looking Statements

Except for historical information this News Release may contain certain "forward looking statements". These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the Company's expectations and projections. A more detailed discussion of the risks is available in the "Annual Information Form" filed by the Company on SEDAR at www.sedar.com.

Contact Information

  • Queenston Mining Inc.
    Charles E. Page, P. Geo.
    President and CEO
    (416) 364-0001 (ext. 224)
    or
    Queenston Mining Inc.
    Hugh D. Harbinson
    Chairman
    (416) 364-0001 (ext. 225)
    Email: Info@queenston.ca
    Website: www.queenston.ca