ann out, page-2

5 January 2012
QMC meets second earn in criteria for Top Camp/Iron Ridge Project in
the Cloncurry district of NW Queensland
On 2 January 2012, Orion Gold NL (“Orion”) confirmed that QMC had met the second earn in
criteria pursuant to an exploration joint venture agreement entered into between Goldstar
Resources NL (the predecessor to Orion) and Matrix Metals Limited dated 29 November 2006
which was subsequently assigned by Matrix Metals Limited to QMC pursuant to a deed of
assumption and assignment (the Agreement).
Accordingly, QMC now has an 82.35% joint venture participating interest with Orion having a
17.65% joint venture participating interest under the Agreement.
QMC now owns a 70% proprietary beneficial and legal interest in consolidated EPM 17602
(formally being EPM 13625 and EPM 13922). Pursuant to an exploration joint venture agreement
between Goldstar Resources NL and Findex Pty Limited (“Findex”) dated 31 May 2002, Findex
owns 15% of the tenement (and is free carried to a ‘decision to mine’ in accordance with the
terms of that agreement) and Orion owns 15% of EPM 17602. Subject to dilution provisions, in
the event that a decision to mine is made QMC’s interest in the Top Camp/Iron Ridge project will
be 70%.
For further details please contact:
Howard V. Renshaw (Managing Director) Tel: (+