Monday 24th October 2016

Resource Clips

Queenston reports Ontario Gold Assays of 4.47 g/t over 37.2m

Resource Clips - essential news on junior gold mining and junior silver miningQueenston Mining Inc TSX:QMI announced assay results from its Upper Canada property in Kirkland Lake, Ontario. Highlights include

11.5 g/t gold over 5.5 metres
10 g/t over 7 metres
9.67 g/t over 7.1 metres
6.19 g/t over 10.1 metres
4.47 g/t over 37.2 metres
4.4 g/t over 26.2 metres
3.89 g/t over 17.7 metres
3.69 g/t over 13.7 metres
3.23 g/t over 22.9 metres
3.13 g/t over 14.6 metres
42.4 g/t over 5.5 metres
22.9 g/t over 6.6 metres
13.2 g/t over 5.5 metres
3.53 g/t over 24.2 metres
2.71 g/t over 29.9 metres
2.45 g/t over 31.8 metres
3.32 g/t over 12.9 metres
2.09 g/t over 17.4 metres
2.46 g/t over 9.8 metres
1.74 g/t over 18.3 metres

President/CEO Charles Page said, “Recent drilling at Upper Canada continues to delineate the open-pit and underground bulk-mining potential of the Upper L zone and boosts the H, M & Q zones as well. The new results not only confirm the continuity of the mineralization but also indicate the high-grade nature of material that remains adjacent to the old mine workings. New holes at the C, K, Brock North and Northland were successful in both defining and expanding these zones. Two drills continue to operate at Upper Canada as we prepare to update the mineral resource due in the third quarter. We believe Upper Canada will be an important source of long-term feed to a future centralized milling complex that will be anchored by our high-grade Upper Beaver mine. The company maintains a strong financial position with cash and short-term investments of approximately $80 million. This includes $10 million cash recently received as a non-refundable deposit on the $60 million sale of our joint venture properties to Kirkland Lake Gold with a further $20 million cash payment due on August 30, 2012 and the $30 million balance due on December 3, 2012.”

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Charles Page

or Ann Gibbs-Baines
Investor Relations

by Ted Niles

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