QGX has received a positive NI 43-101 compliant Preliminary Economic Assessment regarding the development of the company"s 80%-owned copper-gold-silver resource at the Central Valley Zone (CVZ) at Golden Hills , Mongolia .

The study defines a two-stage development plan with a mine life of 15 years. The operation starts with open-pit mining of the gold-silver oxide resource followed by underground mining of the copper-gold-silver sulphide and high-grade quartz-telluride vein resource at CVZ.

QGX is a Canadian-based company that has been exploring for mineral deposits in Mongolia since 1994. QGX's two most advanced properties are the Baruun Naran and the Golden Hills projects. The resource for metallurgical and thermal coal at Baruun Naran comprises of 47.5 million tonnes of measured, 60 million tonnes of indicated (107.5 million tonnes contained in measured and indicated) and an additional 48 million tonnes of inferred resources.

Barrick Gold Corp holds an approximate 9% equity interest in QGX as part of a strategic relationship between the two companies.