Queenston Mining Inc QNMNF

RE: QMI - Takeover candidate?

[GoldMan22]

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The Gold Report Interview with Craig Stanley (10/01/10)

"I had the opportunity to go [to Queenston Mining] a couple of weeks ago. I think the exploration potential is really good, especially with its Upper Beaver project. It is drilling really deep and has had some great hits down there. I think the exploration potential is great. The idea behind Queenston will probably be one centralized mill, fed from four different types of deposits. Gold up in northern Ontario doesn't get much better."
View Entire Article: Craig Stanley Bets on Management, Good Assets

"The stock popped last week on results from a new series of holes from the deep drilling program on their 100%-owned Upper Beaver property. A total of four holes were reported. These were some excellent drill intersects that will expand the deposit.

The Eastern Deep area had new high-grade intersection extending mineralization to 1,150m. The new pilot hole, UB10-163, has been completed in the deep eastern portion of the deposit intersecting 90.1 gpt gold with 0.33% copper over 3m (2.63 oz. per ton over 9.8 ft.), including 178.7 g/t Au with 0.29% Cu over 1.0m (5.21 oz. per ton over 3.3 ft.). This hole intersected the main eastern porphyry zone ~200m below the previous UB08-139 (30.3 g/t Au or 0.88 oz. per ton with 1% Cu over 20.8m or 68.2 ft.) and UB10-139W2 (23.5 g/t Au or 0.68 oz. per ton with trace Cu over 1.9m or 6.2 ft. and 10.0 g/t Au or 0.29 oz. per ton with 0.50% Cu over 6m or 19.7 ft.). The mineralization in Eastern Deep remains open to the east and to depth."

"178.1 g/t—Queenston Mining discovered this beauty (and 0.29% Cu) from a 1.0m section of the deepest drilling to date in the eastern portion of its Upper Beaver deposit. The assay represented part of a 3m intersection that averaged 90.1 g/t Au (and 0.33% Cu)."

"I am adding Queenston Mining back on our list, it has been a while, we sold it in 2005 for an 82% profit and I think we can do that again, perhaps an even larger profit. The company has an excellent management team that has proven their strategy and just keeps on finding more and more gold, building up resources.

. . .Queenston is closing in on its goal of returning to a producer status in Kirkland Lake by advancing towards development four of its 100%-owned gold deposits in Gauthier Twp. The Upper Beaver, McBean, Anoki and Upper Canada gold deposits have the potential to develop into a mine-milling operation that could support production of 200,000 ounces per year.

There will be lots of news flow as the company has 12 drill rigs now running and we have seen some nice results a couple weeks back. . .so we have a very active company with lots of cash and loaded with good gold projects where we will see a significant growth in gold resources and they are moving close to production."