Page 12 By Gregory Reynolds A production date in 2016 has been set by Queenston Mining Inc for its Upper Beaver Project near the historic gold mining community of Kirkland Lake The company has Ontario permit ap proval for Advanced under ground Exploration at the Upper Beaver gold and copper deposit tar geting feasi bility in late 2013 and production in 2016 On Sept 26 Queenston announced an updated mineral resource statement for its 100 owned project located in Northeastern Ontario Mineral resources were estimated by SRK Consulting Canada Inc SRK and are reported in accordance with Canadian Securities Administrators National Instrument 43101 NI 43 101 million ounces of gold and 56 million pounds of copper 158 million gold equivalent ounces million ounces of gold and 32 million pounds of copper 078 million gold equivalent ounces driven by tonnage increase of 123 and 48 respectively Charles Page Queenston president and CEO said we are very pleased with the latest mineral resource up date for the Upper Beaver Project The new resource statement that incor porates 129 new core holes 74271 metres completed in 201 1 and 2012 the deposit and supports our view that exploration will continue to expand this multimillion ounce goldcopper system The discovery cost of the new re source remains in line with our his toric cost of approximately 16 per ounce A key focus of the 201 1 2012 drill ing campaign was to convert Inferred mineral resources into Indicated re sources W e were successful in establishing a 1 12 increase in the Indicated re source category that supported the continuity of the mineralization and mineability of the deposit As we move the project to the ad vanced exploration stage that includes shaft sinking under ground develop ment and feasibility we will incorpo rate the updated mineral resource into a new Preliminary Economic Assess ment PEA early in 2013 Six drill rigs are operating at Upper program conduct condemnation drill ing for site facilities and to further ex pand the deposit along its prospective footprint W ith Closure Plan Approval in hand we have begun construction of the road and power line corridor and com Queenston looking to 2016 for Upper Beaver pr oduction Contd on pg 13