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Queenston Mining Announces Additional Drilling Results from Upper Canada Property

QUEENSTON MINING INC. (TSX:QMI)(FRANKFURT:QMI)(STUTTGART:QMI) has announced results from an additional 66 surface diamond drill holes (21,474 m) from the 2010 drill program completed on the 100% owned Upper Canada property located in Gauthier Township, Kirkland Lake, Ontario.

A total of 173 holes (51,109 m) have now been reported targeting the large alteration zone that measures 300 m x 2000 m enveloping the past producing Upper Canada mine. The first 107 holes were reported in news releases dated October 1, 2009, February 16, 2010, May 10, 2010 and September 7, 2010.

Highlights include:

  • 10.43 g/t Au over 17.3 m in hole UC10-158
  • 4.01 g/t Au over 19.2 m in hole UC10-161
  • 2.37 g/t Au over 68.0 m in hole UC10-50W1
  • 1.65 g/t Au over 60.4 m in hole UC10-50W2
  • 3.03 g/t Au over 11.0 m in hole UC10-162
  • 2.03 g/t Au over 17.3 m in hole UC10-163
  • 1.29 g/t Au over 55.6 m in hole UC10-123
  • 1.16 g/t Au over 32.9 m in hole UC10-160
  • 1.06 g/t Au over 23.2 m in hole UC10-173
  • 1.04 g/t Au over 27.4 m in hole UC10-112

Charles Page, President and CEO of Queenston said, "The recent phase of drilling at Upper Canada continues to produce positive results in the eastern and central portions of the deposit and has begun to extend the potential for open-pit mineralization further west and north. Along the South Branch of the Upper Canada Break significant gold mineralization has now been intersected over a length of 2 kilometres and remains open. The program continues with three drills and the Company will be adding more rigs in 2011 to provide the necessary information required to complete an initial mineral resource".

The Upper Canada property forms part of the Kirkland East Project where the Company is advancing five gold deposits in the Kirkland Lake Gold Camp towards feasibility and ultimately a production decision. Upper Canada was an important past gold producer in the camp from 1936 to 1972. During that period the mine produced 1.5 million ounces of gold at an average grade of 11 g/t from narrow, steeply dipping 2 m wide veins. The mine closed in 1972 due to the low gold price and there remains an historic measured and indicated resource of 1,899,973 t grading 6.9 g/t Au (approximately 422,000 ounces). The historic mineral resources at Upper Canada were reviewed by Roscoe Postle and Associates in a report prepared for the Company in 1995 and should not be relied upon as the report is not compliant to National Instrument 43-101 and the resource has not been verified by a Qualified Person. The mineralization that has been outlined by the recent drilling programs does not form part of the historic mineral resource.

The majority of the new drilling was completed on the South Branch of the Upper Canada Break targeting gold mineralization that may be amenable to open pit mining. Wedge holes UC10-50W1 and -50W2 targeted the deeper C Zone located to the west on the South Branch. The wedge holes followed up previous holes UC10-49 and UC10-50 which intersected 1.63 g/t Au over 40.2 m and 2.11 g/t Au over 75.6 m respectively (see news releases dated May 10, 2010). Both wedge holes intersected continuous wide widths of mineralization. Hole UC10-50W1 reported two separate intervals assaying 1.43 g/t Au over 62.2 m and 2.37 g/t Au over 68.0 m including 6.15 g/t Au over 14.6 m. Hole UC10-50W2 intersected three separate intervals assaying 1.65 g/t Au over 60.4 m, 7.4 g/t Au over 11.9 m and 3.31 g/t Au over 21.0 m. The mineralization intersected in UC10-50W1 and -50W2 occur between 500 and 700 m below surface and would be amenable to underground mining. The C Zone was previously mined and contains a historic mineral resource of 720,500 t grading 7.4 g/t Au. This historic resource was reviewed by Roscoe Postle and Associates in a report prepared for the Company in 1995 and should not be relied upon as the report is not compliant to NI 43-101 and the resource has not been verified by a Qualified Person.

Quality Control

The design of the Queenston's drilling programs, Quality Assurance/Quality Control and interpretation of results is under the control of Queenston's geological staff including qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. The Upper Canada project is supervised by Queenston's Senior Geologist, Frank Ploeger, P. Geo. A detailed review of Queenston's QA/QC procedures is filed in the 2009 Annual Information Form on SEDAR. 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 other laboratories for check assaying.

This news release was reviewed by Queenston's Vice President Exploration and QP, William McGuinty, P. Geo.

Source: QUEENSTON MINING INC.

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