Queenston Mining Inc.
TSX : QMI
FRANKFURT : QMI

Queenston Mining Inc.

May 01, 2007 13:40 ET

Queenston Reports 193.1 g/t Au (5.6 oz/ton) Over 1.1 m From Resource Drilling at Upper Beaver

TORONTO, ONTARIO--(CCNMatthews - May 1, 2007) - QUEENSTON MINING INC. (TSX:QMI)(FRANKFURT:QMI)(STUTTGART:QMI)("Queenston" or "the Company") announces recent results from the resource definition diamond drilling program currently in progress on the 100% owned Upper Beaver property, located in Gauthier Township, Kirkland Lake, Ontario.

Since the last update on February 28, 2007 the Company has completed 6 holes that continue to display continuity in four gold-copper vein systems that form the Beaver North Zones. Highlights include a high grade intersection in the Syenite Zone assaying 193.1 g/t Au (5.6 oz/ton) over a core length of 1.1 m (hole UB07-81), a strong gold-copper intersection in the Lower Porphyry Zone assaying 8.6 g/t Au with 2.0% Cu over 2.8 m (hole UB07-78), two North Contact Zone intersections of 6.4 g/t Au with 1.4% Cu over 3.2 m and 13.1 g/t Au over 2.4 m in holes UB07-81 and -82 respectively. Hole UB07-84 intersected two Porphyry Zone intervals assaying 25.6 g/t Au with 0.5% Cu over 1.5 m and 6.2 g/t Au with 0.5% Cu over 2.9 m.



Table of Upper Beaver Assay Results

------------------------------------------------------------------
Hole From To Interval Estimated Cu Au Zone
# (m) (m) (m) TW (m) (%) (g/t)
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UB07- 84.9 87.6 2.7 2.2 - 3.4 West
78 Basalt
------------------------------------------------------------------
388.9 389.9 1.0 0.8 0.1 3.8 North
Contact
------------------------------------------------------------------
417.3 418.4 1.1 0.8 0.1 3.5 North
Contact
------------------------------------------------------------------
616.6 621.1 4.5 3.4 0.6 1.9 Upper
Porphyry
------------------------------------------------------------------
635.8 638.6 2.8 2.1 2.0 8.6 Lower
Porphyry
------------------------------------------------------------------
683.8 686.3 2.5 1.9 0.2 5.7 Lower
Gauthier
------------------------------------------------------------------
UB07- 372.9 373.6 0.7 0.5 - 9.6 Syenite
80
------------------------------------------------------------------
379.0 385.0 6.0 4.6 - 2.3 North
Contact
------------------------------------------------------------------
408.5 409.5 1.0 0.8 - 24.7 North
Contact
------------------------------------------------------------------
UB07- 318.0 319.1 1.1 0.8 - 193.1 Syenite
81
------------------------------------------------------------------
423.8 425.8 2.0 1.4 0.3 5.7 North
Contact
------------------------------------------------------------------
484.9 493.8 8.9 6.3 1.0 1.4 North
Contact
------------------------------------------------------------------
499.1 502.3 3.2 2.3 1.4 6.4 North
Contact
------------------------------------------------------------------
551.2 554.8 3.6 2.5 0.2 4.1 North
Contact
------------------------------------------------------------------
728.7 729.5 0.8 0.6 0.7 11.4 Upper
Porphyry
------------------------------------------------------------------
UB07- 331.2 332.4 1.2 0.9 - 4.0 Syenite
82
------------------------------------------------------------------
353.9 355.5 1.6 1.3 - 6.9 Syenite
------------------------------------------------------------------
478.0 480.4 2.4 1.9 - 13.1 North
Contact
------------------------------------------------------------------
675.5 675.9 0.4 0.3 1.5 7.9 Lower
Gauthier
------------------------------------------------------------------
UB07- 780.0 781.0 1.0 0.7 - 1.8 Syenite
83 Breccia
------------------------------------------------------------------
UB07- 87.7 93.8 6.1 5.0 0.2 3.7 West
84 Syenite
------------------------------------------------------------------
651.3 655.1 3.8 3.0 0.2 2.2 North
Contact
------------------------------------------------------------------
666.4 667.9 1.5 1.2 0.5 25.6 Upper
Porphyry
------------------------------------------------------------------
674.8 677.7 2.9 2.3 0.5 6.2 Lower
Porphyry
------------------------------------------------------------------

(NOTE: Hole UB07-79 was previously reported in a News Release dated
February 28, 2007)


In holes UB07-80 and -82 the Upper and Lower Porphyry Zones were dyked-out by a post-ore, late feldspar-porphyry dyke. Hole UB07-83 encountered drilling difficulties and deviated ending in a diabase dyke.

The program continues to define the Beaver North Zones as a series of chalcopyrite and magnetite veins containing visible gold in altered and brecciated syenite porphyry located below and to the north of the Upper Beaver mine. To date, drilling has outlined a 500 m long "mineralized corridor" that host the zones and extending below the old mine workings to vertical depth beyond -850 m. The location of the new drill holes is outlined on a "Longitudinal Section" that accompanies this release and is also available on the Company's website at www.queenston.ca.

Since the start of the 52-hole, 44,000 m resource definition drilling program in January, 10 holes have now been completed totaling 8,263 m. A third drill rig has been added to the program and a NI 43-101 resource calculation is scheduled to be completed in the fourth quarter of this year.

The Upper Beaver drilling program is planned and supervised by Queenston's Chief Geologist and qualified person Wayne Benham, P. Geo. employing a QA/QC program consistent with National Instrument 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.

This program forms part of the Company's strategy to return to producer status, by advancing its gold deposits in Gauthier Township towards NI 43-101 resource status. The Company believes the potential exists to establish a new, mine-milling complex with feed provided from four of its 100% owned deposits, all located in the eastern portion of the Kirkland Lake camp.

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.

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