Mr. Saf Dhillon reports

QUESTCORP MINING TO EXERCISE OPTION TO ACQUIRE 100% OF NORTH ISLAND COPPER PROJECT

Questcorp Mining Inc. has reached an agreement to complete its option exercise and acquire the remaining 49-per-cent interest in the North Island copper project, bringing its ownership to 100 per cent upon completion.

The North Island copper project consists of a series of mineral claims, totalling approximately 1,168 hectares, located near Port Hardy on Vancouver Island, British Columbia. The company currently holds a 51-per-cent interest in the project and has the option to acquire the remaining 49-per-cent interest from the current owner (the vendor).

Pursuant to the agreement, the company intends to exercise the option and acquire the remaining 49-per-cent interest in the project by completing a final cash payment of $110,000 and issuing 250,000 common shares to the vendor. Following exercise of the option, the company will hold a 100-per-cent interest in the project and will grant to the vendor a 3-per-cent net smelter return royalty on commercial production from the project. The company may acquire the first 1 per cent of the royalty by completing a cash payment of $750,000 and may acquire the remaining 2 per cent of the royalty for an additional $1-million.

The consideration shares will be subject to restrictions on resale for a period of four months and one day in accordance with applicable securities laws. The company is at arm's length from the vendor and its principal. Completion of the exercise of the option remains subject to applicable regulatory approvals.

About Questcorp Mining Inc.

Questcorp Mining is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metal properties of merit. The company holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 1,168.09 hectares, comprising the North Island copper property, on Vancouver Island, British Columbia, subject to a royalty obligation. The company also holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 2,520.2 hectares, comprising the La Union project, located in Sonora, Mexico, subject to a royalty obligation.

We seek Safe Harbor.