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Hi, just a reminder that youre receiving this email because you have expressed an interest in Queenston Mining Inc.,.

Dont forget to add to your address book so well be sure to land in your inbox! You may unsubscribe http://visitor.constantcontact.com/do?p=un&mse=001aPD3euvAc-JGQBKywRaXevwf0dgeztrh&t=001i9Fi7Sut2aWxPc_VX3-0bA%3D%3D&l=001FCSs65SMrsI%3D&llr=gdmzg5dab if you no longer wish to receive our emails. ------------------------------------------------------------ Update of Queenston Activities As we head into the fall Queenston continues to maintain a high level of activity on both the exploration and development fronts.

Fuelled with a strong treasury we are moving towards feasibility on our flag-ship Upper Beaver project and will continue with our successful exploration activity on the other 100% owned projects in the Kirkland Lake camp.

We invite everyone to view the updated Corporate Presentation recently posted on our web site at www.queenston.ca. Key Value Drivers � Strong balance sheet with $115 million in working capital � Updating mineral resource studies at Upper Beaver and Upper Canada � Continued news flow from 12 drill rigs focussed on resource expansion and new exploration targets � Set to begin the advanced underground exploration at Upper Beaver this fall with shaft sinking planned for 2013 � Updated PEA planned for Upper Beaver � Feasibility targeted for completion in December 2013 Financial As a result of the recent closing of the joint venture asset sale of our 50% owned lands in Teck Township to Kirkland Lake Gold, the Company�s working capital position has increased to $115 million including cash of $90 million and no debt.

On closing we received $20 million cash and a promissory note for the balance of the purchase price payable in the principal amount of $30 million accruing interest at prime plus 2.5% per annum.

The promissory note is secured by a first fixed charge and mortgage on the JV lands and is due on December 3, 2012.

The Company will receive a royalty on production from the sold properties after the first 1.3 M ounces (oz) of gold have been produced equal to $15/oz of gold for the next 1 M oz produced and $20/oz thereafter.

For details see news release dated August 30, 2012. Upper Beaver With an experienced mine building team led by our Chief Operating Officer, Philip Ng, P.

Eng, we are advancing the Upper Beaver towards advanced underground exploration and feasibility.

With procurement of key equipment including two hoists this fall we are preparing the site for the commencement of shaft sinking by mid- 2013.

This work will include an up-grade of the 8 km road to site, installation of a powerline and shaft collar construction. SRK Consulting (Canada) Inc.

has been commissioned to carry out an updated resource study which is anticipated to be completed by the end of September and upon completion will begin an updated PEA.

On the exploration front resource definition and exploration drilling continues with six drill rigs where deep drilling has discovered an impressive, new gold-copper zone at the bottom of the deposit.

Referred to as the �Footwall Zone� three holes have pierced this zone at a vertical depth of 1,300 m, displaying wide widths of mineralization that includes: 7.5 g/t Au, 0.8% Cu over 36.0 m, 6.0 g/t Au, 3.3% Cu over 10.0 m and 18.4 g/t Au, 1.1% Cu over 22.0 m (see news release dated September 5, 2012).

The Footwall Zone remains open up dip, to the east and down plunge.

Drilling in this area has also extended the Porphyry Zone to depth where it remains open with 13.7 g/t Au, 0.6% Cu over 6.0 m (see news release dated March 5, 2012).

The infill drilling of the Porphyry Zone continues to return impressive intersections including: 21.8 g/t Au over 13.0 m and 12.8 g/t Au, 2.4% Cu over 5.0 m (news release dated September 5, 2012).

Upper Canada Exploration drilling continues at Upper Canada with two rigs as we prepare for an updated mineral resource.

Last year we announced a preliminary combined open pit - underground mineral resource of 137,000 oz grading 2.2 g/t Au (indicated), 633,000 oz grading 4.0 g/t Au (inferred) and since that time in excess of 200 additional drill holes have been completed on this past producing mine property.

The drilling has targeted 7 distinct gold zones with the most recent results including: 10.1 g/t Au over 21.9 m, 36.4 g/t Au over 3.7 m, 15.3 g/t Au over 8.2 m, 3.7 g/t Au over 30.2 m and 1.6 g/t Au over 119.5 m (see news release dated July 11, 2012). Bidgood Drilling at Bidgood continues with two rigs targeting two areas on this past producing property.

On the South Zone where last year a preliminary open-pit mineral resource identified 79,000 oz grading 1.7 g/t Au (indicated) and 21,000 oz grading 2.0 g/t Au (inferred) recent drilling has returned: 93.1 g/t Au over 2.2 m, 8.8 g/t Au over 21.0 m, 4.7 g/t Au over 20.4 m, 3.3 g/t Au over 17.0 m and 1.9 g/t Au over 28.6 m.

On the North Zone drilling here has intersected narrower mineralization of high-grade nature including: 149.5 g/t Au over 3.0 m and 191.1 g/t Au over 0.5 m (see news release dated May 3, 2012).

This structurally controlled gold mineralization that includes the addition of telluride minerals has similarities to the Kirkland Lake Main Break located 8 km to the east.

AK The JV assets recently sold to Kirkland Lake Gold adjoin our 100% owned AK property to the north in Teck Township.

At AK our first, near surface mineral resource was announced in the fall of 2011 and included 164,000 oz grading 4.5 g/t Au (indicated) and 207,000 oz grading 4.2 g/t Au (inferred).

Since then drilling has continued with one rig expanding the deposit closer to surface and to depth with 14.5 g/t Au over 5.9 m, 11.3 g/t Au over 4.2 m, 5.5 g/t Au over 10.1 m and 3.1 g/t Au over 10.5 m (see news release dated July 24, 2012).

Drilling at AK is now focussed below the existing mineral resource chasing the deposit to depth where the potential exists for occurrence of the South Mine Complex style mineralization currently being explored and mined by Kirkland Lake Gold. Forward email http://ui.constantcontact.com/sa/fwtf.jsp?llr=gdmzg5dab&m=1103746609254&ea=ir1%40commodity.at&a=1110959234703
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Queenston Mining Inc., | 201 - 133 Richmond Street West | Toronto | Ontario | M5H 2L3 | Canada