Queenston closes $10.1 million private placement.

• Position: IN BRIEF

Having oversubscribed its initially targeted private placement of $9,375,000, Queenston Mining Inc. completed the financing announced on April 25,2007 after having raised $10,115,000.

As part of the placement, 3.4 million hard dollar units consisting of a common share and a half warrant were sold at $1.85, while 1.7 million flow-through shares were sold at $2.25. Each full warrant allows the holder to purchase an additional common share of the company at a price of $2.25 for a period of 12 months.

Proceeds will be used to accelerate the company's Kirkland Lake gold...