Northfield, Cudney hold 10.25% of Queenston shares

2009-02-02 12:55 ET - News Release

Also News Release (C-QMI) Queenston Mining Inc

Mr. Brent Peters reports

ROBERT CUDNEY AND NORTHFIELD CAPITAL CORPORATION ACQUIRE SECURITIES OF QUEENSTON MINING INC.

Robert Cudney of Toronto, Ont., together with joint actor Northfield Capital Corp., has acquired ownership of 134,900 common shares of Queenston Mining Inc., at an average price of $3.47 per share, through the facilities of the Toronto Stock Exchange, representing approximately 0.25 per cent of the total issued and outstanding common shares of Queenston as of Jan. 30, 2009. As a result of this transaction, Mr. Cudney and his joint actor Northfield held, as at Jan. 30, 2009, a total of 5,393,500 common shares of Queenston, representing approximately 10.25 per cent of the total issued and outstanding shares of Queenston.

As at Jan. 30, 2009, Mr. Cudney's direct ownership, following the transaction, represents a total of 307,500 common shares of Queenston or approximately 0.58 per cent of such shares outstanding, and Northfield's direct ownership, following the transaction, represents a total of 5,086,000 common shares of Queenston, or approximately 9.67 per cent of such shares outstanding.

The common shares of Queenston were acquired for investment purposes, and Mr. Cudney or his joint actor Northfield may, from time to time, acquire additional securities of Queenston, dispose of some or all of the existing or additional securities they hold or will hold, or may continue to hold their current positions.

Additional Information

A copy of the applicable securities report filed in connection with the matters set forth above may be obtained through Northfield's offices by contacting:

Brent Peters
141 Adelaide St. W.
Suite 301
Toronto, Ont.
M5H 3L5
Tel: 416-628-5901
Fax: 416-628-5911

Robert D. Cudney
141 Adelaide St. W.
Suite 301
Toronto, Ont.
M5H 3L5
Tel: 416-628-5901
Fax: 416-628-5911

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