Quincy Gold Corp.

Quincy Gold Corp.

March 23, 2005 17:56 ET

Quincy Gold Corp. Announces Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: QUINCY GOLD CORP.

TSX VENTURE SYMBOL: QGO
OTC Bulletin Board SYMBOL: QGYG

MARCH 23, 2005 - 17:56 ET

Quincy Gold Corp. Announces Private Placement

TORONTO, ONTARIO--(CCNMatthews - March 23, 2005) - The Board of
Directors of Quincy Gold Corp. (TSX VENTURE:QGO)(OTCBB:QCYG) is pleased
to announce that the Company has undertaken a private placement offering
for gross proceeds of up to CAD $5,000,000. The proceeds of the private
placement are to be utilized to fund the exploration and delineation of
the company's uranium prospects in Colorado, New Mexico, Arizona and
Ontario, and for general working capital purposes.

The offering will consist of up to 5,882,353 Units, priced at CAD $0.85
per unit. Each Unit will consist of one common share of the Company and
one half of one share purchase warrant. Each whole share purchase
warrant will be exercisable into one common share at a price of CAD
$1.10 for a period of two years.

THIS PRESS RELEASE WAS PREPARED BY QUINCY GOLD CORP., WHICH ACCEPTS THE
RESPONSIBILITY AS TO ITS ACCURACY. THE TSX VENTURE EXCHANGE DOES NOT
ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Information Regarding Forward-Looking Statements: Except for historical
information contained herein, the statements in this Press Release are
forward-looking statements that are made pursuant to the safe harbor
provisions in the Private Securities Legislation Reform Act of 1995.
Forward-looking settlements involve known and unknown risks and
uncertainties, which may cause Quincy's actual results in future periods
to differ materially from forecasted results. These risks and
uncertainties include, among other things: volatility of natural
resource prices; product demand; market competition and risks inherent
in Quincy's operations. These and other risks are described in the
Company's Annual Report or Form 10-K and other filings with the
Securities and Exchange Commission.

-30-

Contact Information