Company Web Site: www.queenston.ca

This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2009-09-08. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-09-02.

External Links: Yahoo News and Quotes  |  Yahoo Message Board  |  StockCharts  |  Stockhouse  |  Canadian Insider Trading

GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-09-02

Project/Deposit	CC	MVpSh	PP%	MI%	I%	Gold	Silver	Copper	Molybdenum	Nickel	Lead	Zinc
Upper Beaver	CA	$14.82	0	60%	40%	718.38 K oz		10.05 K t
Anoki	CA	$2.36	0	77%	23%	124.35 K oz
South Claim	CA	$2.32	0	37%	63%	122.00 K oz
Ironwood	CA	$1.28	0	0	100%	67.48 K oz
GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / Metal						Gold	Silver	Copper	Molybdenum	Nickel	Lead	Zinc
Metal Totals						1.03 M oz		10.05 K t
Metal Prices in US$ (from 2010-09-02)						$1,251.30 per oz	$19.69 per oz	$3.46130 per lb	$15.30 per lb	$9.82710 per lb	$0.96240 per lb	$0.94810 per lb
Metal Value per Share (MVpSh) (Shown in US$ and based on fully diluted share count shown below)						$19.62	$0.00	$1.16	$0.00	$0.00	$0.00	$0.00
Percentage of Total Metal Value						94.40%	0.00%	5.60%	0.00%	0.00%	0.00%	0.00%
PP% | MI% | I%						0 | 55% | 45%	0 | 0 | 0	0 | 59% | 41%	0 | 0 | 0	0 | 0 | 0	0 | 0 | 0	0 | 0 | 0
GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
Metal Value per Share (MVpSh)						US$20.78
Average Ore Value per Tonne						US$413.34
Metal Value Leverage (MVL)						5.09
Market Capitalization as % of Metal Value						19.6%
Recent Stock Price						C$4.3   (TSX/TSXV close on 2010-09-02.)   Conversion rate used: 1 Cnd$ = 0.949244 US$ )
Fully Diluted Share Count						65.84 M    ( From the 2009 Q2 MD&A: As at July 29, 2009, the Company had outstanding 57,582,428 common shares together with 2,350,856 warrants and 5,904,500 stock options outstanding which, if exercised, would amount to a fully diluted position of 65,837,784 common shares. )
PP% | MI% | I%						0 | 55% | 45%
Gold Metrics-- all Projects/Deposits
Average Gold Ore Grade						9.699 g/t
Market Capitalization     per oz of Gold In Ground						$260.35   US$  |   274.27   C$
Gold Eq Oz Estimate						1.09 M oz   ( 1.03 M oz are in ground)
Market Capitalization     per oz of Gold Equilavent						$245.76   US$  |   258.90   C$
See terms for more about GoldMinerPulse metrics.

GoldMinerPulse Coverage Status:

• GoldMinerPulse coverage of Queenston Mining Inc. is complete pending a final internal review.

(NI) 43-101 Report:

Title: Technical Report on the Mineral Properties of Queenston Mining Inc. in the Kirkland Lake Gold Camp
Date: 2007-11-15 (217 pages)

Project Location: Ontario, Canada  /  Mining Region: Abitibi Greenstone Belt

Map View: View the Anoki property on a Google Map.

Most Optimistic Resource Estimates (MORE):

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.82	95.72 K oz	5.700 g/t	522.30 K t
Estimate notes: See Table 2: Current Mineral Resources on p. 16 of 217 in the NI 43-101 dated November 2007. Cutoff was 3.5 g/t Au.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.54	28.63 K oz	6.280 g/t	141.80 K t
Estimate notes: See Measured + Indicated notes.

(NI) 43-101 Report:

Title: TECHNICAL REPORT FOR THE MINERAL RESOURCE ESTIMATE, IRONWOOD PROJECT, CADILLAC TOWNSHIP, QUÉBEC (NTS 32D/01)
Date: 2008-02 (93 pages)

Project Location: Quebec, Canada

Map View: View Ironwood gold deposit on a Google Map.

Most Optimistic Resource Estimates (MORE):

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.28	67.48 K oz	17.260 g/t	243.20 K t
Estimate notes: See Table 17.9 Summary of the Mineral Resource Estimate, Ironwood Deposit. on p. 74 of 93 in the NI 43-101 dated February 2008. Resource quantities adjusted for ownership percentage of 50.0%. cutOffNotes

(NI) 43-101 Report:

Title: Queenston Mining Inc. Review of Resources on South Claims Property Kirkland Lake, Ontario
Date: 2009-07-17 (47 pages)

Project Location: Ontario, Canada

Map View: View the South Claims property on a Google Map.

Most Optimistic Resource Estimates (MORE):

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.86	45.26 K oz	42.510 g/t	33.11 K t
Estimate notes: See Table 7: Queenston’s Share of Resources 2008 and 2009 on p. 41 of 47 in the NI 43-101 dated July 2009.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.46	76.75 K oz	42.170 g/t	56.61 K t
Estimate notes: See notes for Indicated.

(NI) 43-101 Report:

Title: TECHNICAL REPORT AND MINERAL RESOURCE ESTIMATE FOR THE UPPER BEAVER PROPERTY, ONTARIO
Date: 2008-11-06 (110 pages)

Project Location: Onatario, Canada

Map View: View Upper Beaver property on a Google Map.

Most Optimistic Resource Estimates (MORE):

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$8.14	428.34 K oz	9.700 g/t	1.37 M t
Copper	$0.68	5.91 K t	4,300.000 g/t	1.37 M t
Estimate notes: See TABLE 16. SUMMARY OF UPPER BEAVER PROPERTY MINERAL RESOURCE ESTIMATE (Cutoff of 3.0 g Au/t) on p. 100 of 110 in the NI 43-101 dated November 2009. Cutoff of 3.0 g/t Au/t

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$5.51	290.03 K oz	8.500 g/t	1.06 M t
Copper	$0.48	4.14 K t	3,900.000 g/t	1.06 M t
Estimate notes: See notes for Indicated.