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Drilling commenced at Just There prospect

Drilling commenced at Just There IOCG prospect in the White Range Project area RC drilling has commenced at the Just There IOCG prospect Initial 10 RC holes for 2,000 metres, planned to test strike and down dip potential of 3 zones for oxide and sulphide mineralisation Followingup historical pits and mineralised outcrops ( 8805 14% Cu, 4g/t Au), geophysical and soil geochemical anomalies Targeting open pitable resources. A reverse circulation (RC) drilling program has commenced at Queensland Mining Corporations Just There ironoxide coppergold (IOCG) prospect (on EPM17602 which is a joint venture arrangement with Orion Gold NL and Findex Pty Ltd). Just There is located within the Companys flagship White Range project, approximately 50 kilometres southsouthwest of Cloncurry in northwest Queensland. (Figure 1) This first pass program of ten RC holes for 2,000 metres of drilling will test three separate targets.

The first is a 1.6 kilometre long SAM (subaudio magnetic) conductivity anomaly, which has historic pits containing oregrade copper and gold mineralisation in the northern part. The second target is a flexure/dilational jog in the SAM conductivity anomaly, which is coincident with surface mineralisation. The third target, is a zone 1.7 kilometre long consisting of soil copper anomalies, a SAM conductivity anomaly with associated mineralised pits and mineralised outcrops, said Howard Renshaw, Managing Director of QMC. We are very enthusiastic about the drilling at Just There.

The coincidence of SAM geophysical anomalies and elevated soil copper geochemistry with mineralised occurrences, highlights the promise for coppergold mineralisation and its potential to contribute openpitable resources to a standalone operation or for feed to our White Range Project, he added. Geology The Just There prospect is located within the marginal zone of the Mitakoodi Quartzite Formation. It is adjacent to the Overhang Jaspilite Formation that hosts another QMC coppergold prospect about 6 kilometres to the northeast at Black Fort, in which up to 96m 0.55% Cu was reported from a 5 hole drill program completed in late 2010. The Mitakoodi Quartzite Formation is a package of fine grained lensoidal metasediments and mafic metavolcanics/intrusives, dominated by quartzite ridges. The presence of breccia outcrops indicates structural preparation (e.g.

dilational jogs) conducive to mineralisation as evidenced by the occurrence of copper gold in hematite (specular)/magnetite breccia in historic pits and outcrops and in sulphide bearing breccia mullock from the historic Just Luck mine shafts (Fig. 3 Fig. 4).

The style of mineralization is temporarily interpreted to be IOCG (iron oxide coppergold), the primary type of copper deposits being explored and mined in the Cloncurry region. The coincidence of SAM geophysical anomalies and elevated soil copper geochemistry with mineralised occurrences translates to the presence of potential coppergold mineralization in the prospect area (Fig. 5). There are indications of nominally EW faults and a major ENE fault/lineament.

The former is associated with hematite/magnetite breccia or massive hematitemagnetite crosscutting the stratigraphy while the latter is coincident with soil geochemical and SAM conductivity anomalies transgressing the stratigraphy. Current Drill Program This first pass drill program (Fig. 2), consisting of 10 RC holes for 2, 000 metres is aimed at testing three separate targets, the Western, the Eastern and the Northeastern zones (see Fig. 5).

The holes will be drilled mainly in wide spaced two holes fences to a depth of 200 metres each and inclined at 55730 or 65730 across the targets. The Western target is a 1.6 kilometre long NS trending SAM conductivity anomaly with an offset magnetic anomaly, plus oregrade copper and gold values in the historic pits to the north. The southern two holes target a flexure/dilational jog in the SAM conductivity anomaly, while surface mineralisation is targeted in the northern area. There are three, twohole fences planned to test this target zone. The Eastern zone is 1.7 kilometre long, trending ENE, comprising variably coincident 300ppm soil copper anomalies and a SAM conductivity anomaly with associated mineralised pits and outcrops, some of which are breccias.

Three holes are planned to test this target zone. The Northeastern zone, located in the northeast corner of the prospect, trends NE, comprises coincident 300ppm soil copper and SAM conductivity anomalies over a kilometre length. One hole is proposed to drill into this target for initial testing. Background to Just There Prospect Just There is one of the seven coppergold prospects (Black Fort, Black Fort South, Just There, South BFS, Creek Martin, Murphys and Lysander) identified within EPM17602 which adjoins QMCs White Range project immediately to the west. QMC Orion Gold NL Findex Pty Ltd joint venture arrangements The tenement, being 78 subblocks covering a total area of approximately 250 km2, is a joint venture between QMC, Orion Gold NL and Findex Pty Ltd. QMC owns a 51% proprietary interest in the tenement with the right to earnin to a 70% proprietary ownership.

QMC considers that it has met the expenditure requirements for a 70% earnin and is currently in discussions with Orion Gold NL to substantiate its claim. For further details please contact Howard V. Renshaw (Managing Director) Tel (61 2) 9251 6730 Email adminqmcl.com.au David Sasson Tel (61) 0411 468 966 (Northfield Communications FIRSt) or visit our Website at http//queenslandminingcorporation.com.au.