CADILLAC/ PANDORA

Final results of 9 drill holes completed. These holes, drilled earlier in the year, targeted an area 200 m around 2005 drill hole W05-09 which intersected the D Zone (6.9 g/t Au over a core length of 28.0 m) and the C Zone (68.2 g/t Au over a core length of 1.5 m). Significant new intersections include: 38.8 g/t Au over 4.2 m (C Zone) in hole W05-12, 8.7 g/t Au over 4.5 m (C Zone) in hole W06-14, 16.4 g/t Au over 3.21 m (C Zone) in hole W06-20. Although the current emphasis of the joint venture is now the “New Gold Discovery” to the north, the results drilling continued to indicate encouraging gold mineralization in a variety of zones. These zones remain open at depth.

Queenston Mining announced the closing of Can$1.5 million private placement financing, consisting of 1.5 million flow-through common shares. Proceeds will be used to explore Kirkland Lake, Ontario and Cadillac, Quebec gold projects and drill at the Upper Beaver and Wood-Pandora properties.

Queenston Mining negotiated a private placement financing for about Can$1.5 million. The financing represents 1.5 million flow-through common shares at a price of $1.00 per share. Funds will be used for exploration at Kirkland Lake, Upper Beaver and Wood-Pandora properties.