ONTARIO – Queenston Mining of Toronto has closed a$25-million private placement (including an over-allotment option) with which to continue exploration of its properties in the Kirkland Lake Gold Camp. The company sold 3.33 million flow-through shares at a price of $7.50 each.
Queenston is particularly interested in advancing its Upper Beaver, McBean-Anoki, Lebel and Upper Canada projects to prefeasibility. Updated resource estimates are planned for Upper Beaver, Upper Canada, Level and the AK properties. Underground exploration on the South Claims also continues. The South Claims are a joint venture with Kirkland Lake Gold Mines.
Visit www.Queenston.ca for a list of past production at the properties the company is testing.