press release

2008-06-16 10:45:00
http://www.commodityonline.com/news/topstory/Aussie-Q-looking-for-partners-in-Molybdenum-site-9520-3.html

Aussie Q looking for partners in Molybdenum site
Commodity Online
QUEENSLAND : Aussie Q Resources has attracted interest among Chinese investors following its most recent drill results in Queensland has uncovered additional new intercepts of molybdenum.

The results are the from the Aussie Q’s 100% owned Whitewash Copper/Molybdenum prospects in Rawlbelle project area, near the town of Monto in Central Queensland.

The company said that these drill results add additional width to the northwest of Whitewash’s mineralised zone ,increases the depth of mineralisation and shows that the mineralised zone remains open to the north, south, west and at depth.

In addition to the Company’s highly successful exploration program which has confirmed the outstanding potential at Whitewash, Aussie Q’s project are also contains eight other look a like prospects all with major exploration and development potential.

Aussie Q is having discussions with Chinese investors in Hong Kong to find appropriate partners for the expanding the project. AQR chairman Mr Frank Gardiner has strong experience in the Chinese mining sector and he and technical director Mr John Goody are in continuing negotiations with a number of major Chinese mining and metals investment groups on joint venturing and partnering opportunities to maximise the development potential of the Company’s highly prospective project area, according to a Press Release.

“We plan to enter the next phase of discussions with potential Chinese partners next month,” Gardiner said.

Molybdenum is one of the key specialty minerals of the current global resource boom and its rapidly increasing use in alloys and stainless steels has led to major consumption and demand growth, which is projected to continue over the next 10 years. In addition
molybdenum had no significant viable substitutes and there is no consumer pressure to use substitutes.

With the strong demand-supply profile of molybdenum, Aussie Q’s corporate strategy is to secure appropriate partners to help them capture this significant growth window in the
molybedenum market.

“It is also consistent with the trend ofChinese groups to seek positions in Australian strategic mineral development and exploration companies which possess technical mining expertise and quality projects,” Mr Gardiner said.