Conquest Mining Limited (ASX:CQT) Received High Grade Gold Results From Mount Carlton

Sydney, Oct 6, 2010 AEST (ABN Newswire) - Conquest Mining Limited (ASX:CQT) (PINK:CQMLF) is pleased to announce further drilling results from the recently discovered high-grade eastern extension to the V2 deposit (announced 8 September 2010). A second hole, located approximately 25m west of the discovery hole HC10RCD941 has yielded the following results:

- 10.1m @ 11g/t Au, 8.3g/t Ag and 0.2% Cu from 146m in hole HC10RCD960

- Including: 1.3m @ 56.5g/t Au, 18.9g/t Ag and 0.48% Cu from 152.7m.

The intersection indicates good grade continuity over a strike length of approximately 60m at around 120m below surface, with the high-grade gold mineralisation associated with pyrite-marcasite and enargite breccia fill and veins, similar to the intercept in the discovery hole HC10RCD941.

Importantly, this high-grade zone is outside of the current planned open pit and hence opens the possibility of a high-grade underground operation off the eastern side of the pit.

The mineralisation is interpreted to be open along strike to the ENE and at depth. Further drilling is planned to test the possible continuation of the mineralisation. The locations of HC10RCD960, relative to previously reported drilling results, as well as planned drill holes to further test this mineralised zone are shown below (see link at the bottom).

For the complete Conquest announcement including figures, please refer to the following link:

http://www.abnnewswire.net/media/en/docs/63888-ASX-CQT-508298.pdf

Contact

Jake Klein Executive Chairman Conquest Mining Limited Tel: +61-2-8383-2100 http://www.conquestmining.com.au