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Press release from Marketwire

Queenston Reports 2.05 g/t Au Over 32.0 Metres at Upper Canada

Tuesday, September 07, 2010

Queenston Reports 2.05 g/t Au Over 32.0 Metres at Upper Canada09:00 EDT Tuesday, September 07, 2010TORONTO, ONTARIO--(Marketwire - Sept. 7, 2010) - QUEENSTON MINING INC. (TSX:QMI)(FRANKFURT:QMI)(STUTTGART:QMI) ("the Company") is pleased to announce results from an additional fifty two surface diamond drill holes (13,865 m) from the 2010 drill program completed on the 100% owned Upper Canada property located in Gauthier Township, Kirkland Lake, Ontario. A total of 107 holes (33,856 m) have now been reported targeting a large alteration zone that measures 300 m x 1800 m enveloping the past producing Upper Canada mine. The first 55 holes were reported in news releases dated October 1, 2009, February 16, 2010 and May 10, 2010. New assay results from the recently completed holes are listed in Table 1 and the hole locations are outlined on the plan accompanying this news release and also available on the Company's website (www.queenston.ca).Highlights include: -- 2.05 g/t Au over 32.0 m in hole UC10-97 -- 2.28 g/t Au over 22.9 m in hole UC10-88 -- 2.15 g/t Au over 12.8 m in hole UC10-108 -- 1.15 g/t Au over 34.1 m in hole UC10-98 -- 1.37 g/t Au over 22.6 m in hole UC10-114 -- 1.19 g/t Au over 21.6 m in hole UC10-103 -- 1.12 g/t Au over 34.8 m in hole UC10-99 -- 1.41 g/t Au over 18.3 m in hole UC10-80 -- 1.62 g/t Au over 12.8 m in hole UC10-91 -- 1.03 g/t Au over 23.8 m in hole UC10-116 -- 1.00 g/t Au over 20.1 m in hole UC10-100 -- 9.16 g/t Au over 9.2 m in hole UC10-115 -- 0.94 g/t Au over 71.0 m in hole UC10-45 Charles Page, President and CEO of Queenston said, "The drilling program at Upper Canada continues to produce positive results and adds to the potential of establishing an open pit resource. The recent phase of drilling has provided infill information between previous holes and complements the continuity of the mineralization. The program continues with three drills and the Company will be adding more rigs to provide the necessary information required to complete a mineral resource as well as test the potential of this large gold system further west and north."The Upper Canada mine was an important past gold producer in the Kirkland Lake 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 (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. Table 1. Assay Results Upper Canada Drilling Program ---------------------------------------------------------------------------- Hole # Section (ft) From (m) To (m) Interval (m) Au (g/t) ---------------------------------------------------------------------------- UC010-45 11+00W 11.9 82.9 71.0 0.94 ---------------------------------------------------------------------------- including 35.4 37.2 1.8 16.04 ---------------------------------------------------------------------------- and 59.1 60.0 0.9 11.26 ---------------------------------------------------------------------------- UC010-57 17+00W 15.5 36.5 21.0 0.69 ---------------------------------------------------------------------------- 186.6 191.2 4.6 2.51 ---------------------------------------------------------------------------- UC10-58 17+00W 71.6 92.6 21.0 0.37 ---------------------------------------------------------------------------- UC10-59 19+00W 137.5 146.6 9.1 0.73 ---------------------------------------------------------------------------- UC10-60 19+00W 57.9 58.8 0.9 11.93 ---------------------------------------------------------------------------- UC10-62 19+00W 46.6 55.7 9.1 0.42 ---------------------------------------------------------------------------- UC10-63 19+00W 10.2 30.8 20.6 0.44 ---------------------------------------------------------------------------- UC10-64 3+00W 28.9 62.2 33.3 0.54 ---------------------------------------------------------------------------- 166.4 174.6 8.2 1.87 ---------------------------------------------------------------------------- UC10-65 3+00W 110.3 111.2 0.9 5.90 ---------------------------------------------------------------------------- UC10-66 3+00W 146.6 149.3 2.7 1.20 ---------------------------------------------------------------------------- UC10-67 3+80W 176.5 180.1 3.6 1.49 ---------------------------------------------------------------------------- UC10-69 6+00W 19.5 23.8 4.3 0.54 ---------------------------------------------------------------------------- 134.1 135.9 1.8 1.11 ---------------------------------------------------------------------------- UC10-70 6+00W 10.1 26.9 16.8 0.82 ---------------------------------------------------------------------------- 40.5 53.6 13.1 0.57 ---------------------------------------------------------------------------- UC10-71 4+75W 53.3 57.4 4.1 1.13 ---------------------------------------------------------------------------- UC10-72 4+55W 70.1 73.7 3.6 0.64 ---------------------------------------------------------------------------- UC10-75 5+50W 94.2 122.5 28.3 0.73 ---------------------------------------------------------------------------- including 120.7 122.5 1.8 8.82 ---------------------------------------------------------------------------- UC10-76 1+30W 8.8 18.3 9.5 0.93 ---------------------------------------------------------------------------- 144.2 204.4 60.2 0.56 ---------------------------------------------------------------------------- including 165.2 166.7 1.5 5.78 ---------------------------------------------------------------------------- UC10-77 2+27W 46.3 50.9 4.6 0.51 ---------------------------------------------------------------------------- UC10-78 1+50W 111.3 140.9 29.6 0.40 ---------------------------------------------------------------------------- UC10-79 2+00W 65.2 114.3 49.1 0.49 ---------------------------------------------------------------------------- including 67.1 68.9 1.8 4.20 ---------------------------------------------------------------------------- UC10-80 21+00W 89.3 94.2 4.9 1.41 ---------------------------------------------------------------------------- 193.9 212.2 18.3 1.41 ---------------------------------------------------------------------------- including 208.5 209.4 0.9 20.9 ---------------------------------------------------------------------------- UC10-81 21+00W 59.5 68.6 9.1 1.14 ---------------------------------------------------------------------------- including 63.1 64.0 0.9 6.03 ---------------------------------------------------------------------------- UC10-82 21+00W 85.3 89.9 4.6 4.64 ---------------------------------------------------------------------------- 229.5 235.0 5.5 1.26 ---------------------------------------------------------------------------- UC10-83 2+00E 181.1 210.4 29.3 0.60 ---------------------------------------------------------------------------- UC10-84 2+00E 51.2 96.9 45.7 0.44 ---------------------------------------------------------------------------- including 68.6 75.0 6.4 1.20 ---------------------------------------------------------------------------- UC10-85 2+00E 21.9 70.4 48.5 0.59 ---------------------------------------------------------------------------- including 29.3 31.1 1.8 6.02 ---------------------------------------------------------------------------- UC10-86 22+50W 11.3 26.2 14.9 0.72 ---------------------------------------------------------------------------- 161.0 170.1 9.1 2.59 ---------------------------------------------------------------------------- including 169.2 170.1 0.9 22.04 ---------------------------------------------------------------------------- UC10-87 24+00W 48.2 50.9 2.7 1.06 ---------------------------------------------------------------------------- 114.6 117.3 2.7 0.91 ---------------------------------------------------------------------------- UC10-88 24+00W 89.3 112.2 22.9 2.28 ---------------------------------------------------------------------------- including 89.3 90.2 0.9 22.13 ---------------------------------------------------------------------------- UC10-89 24+00W 207.3 220.1 12.8 0.95 ---------------------------------------------------------------------------- UC10-90 24+00W 214.9 267.0 52.1 0.57 ---------------------------------------------------------------------------- including 243.2 244.1 0.9 7.01 ---------------------------------------------------------------------------- 362.7 395.6 32.9 0.89 ---------------------------------------------------------------------------- UC10-91 5+00E 107.0 119.8 12.8 1.62 ---------------------------------------------------------------------------- including 117.0 117.9 0.9 9.79 ---------------------------------------------------------------------------- 177.1 186.0 8.9 0.95 ---------------------------------------------------------------------------- UC10-92 5+00E 30.2 54.7 24.5 0.74 ---------------------------------------------------------------------------- 86.9 114.3 27.4 0.47 ---------------------------------------------------------------------------- UC10-93 5+00E 47.9 77.1 29.2 0.62 ---------------------------------------------------------------------------- UC10-94 5+00E 21.6 35.3 13.7 0.87 ---------------------------------------------------------------------------- UC10-95 6+00E 250.2 252.1 1.9 7.68 ---------------------------------------------------------------------------- UC10-96 6+00E 219.2 240.0 20.8 0.53 ---------------------------------------------------------------------------- UC10-97 6+00E 167.6 199.6 32.0 2.05 ---------------------------------------------------------------------------- including 182.3 187.8 5.5 7.60 ---------------------------------------------------------------------------- UC10-98 6+00E 144.2 178.3 34.1 1.15 ---------------------------------------------------------------------------- including 164.6 165.5 0.9 9.73 ---------------------------------------------------------------------------- UC10-99 6+00E 97.5 132.3 34.8 1.12 ---------------------------------------------------------------------------- UC10-100 6+00E 15.2 35.3 20.1 1.00 ---------------------------------------------------------------------------- UC10-103 26+00W 118.9 140.5 21.6 1.19 ---------------------------------------------------------------------------- including 137.8 138.7 0.9 15.54 ---------------------------------------------------------------------------- UC10-104 26+00W 45.7 67.6 21.9 0.83 ---------------------------------------------------------------------------- UC10-105 26+00W 156.7 174.4 17.7 0.87 ---------------------------------------------------------------------------- including 156.7 163.4 6.7 1.37 ---------------------------------------------------------------------------- 181.7 190.2 8.5 1.94 ---------------------------------------------------------------------------- including 185.8 187.4 1.6 7.49 ---------------------------------------------------------------------------- 200.3 206.1 5.8 1.08 ---------------------------------------------------------------------------- UC10-106 28+00W 107.0 129.9 22.9 0.69 ---------------------------------------------------------------------------- 164.6 175.0 10.4 1.28 ---------------------------------------------------------------------------- 334.1 348.0 13.9 0.63 ---------------------------------------------------------------------------- 370.6 371.5 0.9 10.42 ---------------------------------------------------------------------------- 413.6 414.5 0.9 28.16 ---------------------------------------------------------------------------- UC10-107 28+00W 221.3 237.1 15.8 0.44 ---------------------------------------------------------------------------- UC10-108 28+00W 64.6 77.4 12.8 2.15 ---------------------------------------------------------------------------- UC10-110 7+00E 33.5 51.8 18.3 0.40 ---------------------------------------------------------------------------- UC10-111 7+00E 34.4 52.7 18.3 0.91 ---------------------------------------------------------------------------- 95.7 100.2 4.5 2.5 ---------------------------------------------------------------------------- UC10-114 30+00W 38.4 86.6 48.2 0.85 ---------------------------------------------------------------------------- including 79.3 86.6 7.3 2.95 ---------------------------------------------------------------------------- and 84.8 86.6 1.8 10.88 ---------------------------------------------------------------------------- 114.0 136.6 22.6 1.37 ---------------------------------------------------------------------------- including 114.0 115.8 1.8 7.30 ---------------------------------------------------------------------------- UC10-115 31+00W 15.2 24.4 9.2 9.16 ---------------------------------------------------------------------------- 68.0 86.0 18.0 0.81 ---------------------------------------------------------------------------- UC10-116 31+00W 3.4 27.2 23.8 1.03 ---------------------------------------------------------------------------- 72.5 89.0 16.5 0.63 ---------------------------------------------------------------------------- Note: The mineralized intervals reported in this news release represent core length. Holes UC10-61, -68, -73, -74, and -109 intersected no significant values. Results for holes UC10-101, -102, -112 and -113 are pending. The assay results for hole UC10-45 are being reported here for the first time. Assay results for holes up to UC10-56 are listed in previous news releases dated October 1, 2009, February 16, 2010 and May 10, 2010.The new drill holes were completed on the South Branch of the Upper Canada Break over a length of approximately 1,200 m between the #1 and #2 shafts. An additional 30 holes have been completed and assay results are pending. Drilling is now beginning to target the North Branch of the Break where results from the first phase of drilling indicate similar potential to the South Branch. The Upper Canada Break has been traced by historic drilling over a length in excess of 4 km and continues to remain open to the west.Quality ControlThe 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 2010 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.About QueenstonQueenston controls a significant land package in the Kirkland Lake gold camp now containing 29 properties, totalling approximately 20,000 hectares (200 km2). The Company's primary focus is to return to producer status through the development of four 100% owned gold projects including the Upper Beaver, McBean, Anoki and Upper Canada all located in Gauthier township employing a central mill to be constructed at the Upper Canada site. Elsewhere in the camp the Company is completing resource definition drilling on its 100% owned Bidgood and Amalgamated Kirkland properties. Exploration also continues with joint venture partner Kirkland Lake Gold Inc. targeting the new South Mine Complex on four properties located in Teck township adjacent to the Macassa mine. Queenston is well financed with $40 million in cash and has a 2010 exploration budget of $16 million with 14 diamond drill rigs currently operating on 8 individual properties. Forward Looking StatementsExcept 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.FOR FURTHER INFORMATION PLEASE CONTACT: 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) or Queenston Mining Inc. Andreas Curkovic Investor Relations (416) 577-9927 Info@queenston.ca www.queenston.ca