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Queensland Minerals Ltd. Completes Non-Brokered Private Placement Raising $1,903,500 LONGUEUIL, QUEBEC--(MARKET WIRE)--Oct 14, 2008 -- Queensland Minerals Ltd. (CDNX:QML.V - News) (the "Company") announces
that it has closed its non-brokered private placement previously
announced on August 28, 2008. The Company issued 9,517,500
units at a price of $0.20 per unit, with each unit consisting
of one common share and one-half of one common share purchase
warrant. Each whole warrant will entitle the holder to purchase
one additional common share at $0.40 per share for a period
of 18 months from the closing date of the private placement. The Company paid finder's fees of $14,000 and issued 70,000 finder's warrants, with each finder's warrant entitling the holder to acquire one common share at a price of $0.20 for a period of 18 months from the date of distribution. The private placement closed in two tranches on September 5, 2008 and October 10, 2008. The common shares, warrants and finder's warrants are subject to four month hold restrictions expiring January 6, 2008 and February 11, 2008, respectively. The net proceeds from the Offering are being used to fund exploration of the Company's properties in Queensland Australia and for general corporate purposes. About the Company The Company is engaged in the exploration of mineral properties in the State of Queensland, Australia. Additional information about the Company is available on the Company's website, www.queenslandminerals.com and on SEDAR at www.sedar.ca.
Contact: Contacts:
Queensland Minerals Ltd.
James Crombie
Chief Executive Officer
450-677-3868
450-677-2601 (FAX)
jcrombie@queenslandminerals.com
Queensland Minerals Ltd.
Investor Relations
Gerri Paxton/Louise Quinn
450-677-2054/677-3523
450-677-2601 (FAX)
gpaxton@queenslandminerals.com
lquinn@queenslandminerals.com
Source: Queensland Minerals Ltd.
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