Newstrike Resources Ltd. (“Newstrike”) and Queenston Mining Inc. (“Queenston”) have formed a Joint Venture to explore the Commodore Property located in Lebel and Gauthier townships, Larder Lake Mining Division, northeastern Ontario. Each company holds an undivided 50% interest in the Amalgamated Commodore property which comprises 25 patented and 32 unpatented mineral claims including the "Morris Kirland Lake East" 6 claim property (Morris Area), "Egg Claims Commodore" 36 claim property (Historic Commodore Area), "Boundary" 4 claim property (Boundary Area),and the "Queenston Claims" 11 claim property (Intermediate Area).  It does not include the Upper Canada property in the central portion of the Kirkland Lake gold camp.

In November, 2009 the Joint Venture released the exploration results of 4 drill holes targeting the Egg Zone. Over the winter, exploration was focused on the southern portion of the property where drilling and geophysics has outlined a broad alteration corridor that has been traced for 2.5 km containing two gold zones, Commodore and Egg. At Commodore, 6 holes targeted the main highway zone and at the Egg Zone, 6 holes continued to test the mineralization intersected in historic drill hole Egg‐04 (45.5 g/t Au over 1.5 m).

The drilling intersected wide zones of low grade mineralization at the Commodore Zone including: 1.3 g/t Au over 11.6 m (hole Com09‐07), 0.8 g/t Au over 47.0 m including 3.1 g/t over 7.3 m (hole Com09‐09) and 0.3 g/t over 172.2 m including 0.6 g/t over 17.0 m (hole Com09‐06). At the Egg Zone, located 1 km west of Commodore, higher grade intervals were encountered including: 3.6 g/t Au over 10.6 m including 6.3 g/t Au over 5.0 m and 14.9 g/t over 1.0 m (previously reported in hole Com‐09‐04), 6.8 g/t Au over 1.0 m (hole Com09‐14), 3.6 g/t Au over 2.6 m (hole Com09‐13) and 1.1 g/t Au over 9.4 m (hole Com09‐11). A complete list of assay results are presented below.

As a result of the positive results from the first phase of exploration on the property, the joint venture has approved a second program budgeted at $1,200,000 to include further geophysics and 10,000 m of drilling. As the primary target, drilling will continue to focus along the 2.5 km long alteration corridor in the southern portion of the property. Here 10 holes will test new geophysical anomalies located between, along strike and to the south of the Commodore and Egg Zones. Also, 4 deep holes will begin to test the large altered package to a depth of 800 m. As a secondary target, 9 holes are planned to test a series of geophysical anomalies in the central portion of the property along the 03 Break, an east‐west trending structure that trends near the Morris mine.

The new drilling has expanded the HG Zone to a gold bearing system measuring 100 m x 100 m centered at a depth of 75 m and open in all directions. The gold mineralization encountered in the drilling occurs in an altered trachyte horizon that occurs along the Upper Canada Break, a gold structure that crosses the property for 3 km and hosts the Commodore deposit 1,500 m to the east. The Commodore deposit was discovered by Sudbury Contact Mines in 1995 and contains a shallow, historic mineral resource of 669,500 t grading 2.4 g/t Au including 278,500 t grading 3.8 g/t Au.²

The combined property is located north of the Larder Lake Break straddling the Lebel – Gauthier Township line covering an altered and mineralized volcanic assemblage of Timiskaming rocks that elsewhere in the camp hosts the 24 million ounce Kirkland Lake Main Break gold deposits located 12 km to the west and the 1.5 million ounce Upper Canada gold mine 3 km to the east. The Commodore property is favourably located relative to major gold structures and a variety of gold deposits in the camp.

The primary area of alteration and mineralization occurs along the Upper Canada Break at a volcanic sedimentary contact on the southwestern portion of the property where in 1995-96* exploration drilling by previous owners, Sudbury Contact Mines Limited, discovered the Commodore Zone. This gold zone hosts an historic inferred mineral resource of 669,500 t grading 2.4 g/t Au including 278,500 t grading 3.8 g/t Au.³

¹This data pre-dates NI 43-101 and is not compliant
²The resource was calculated by W.A. Hubacheck Consultants Limited in a report dated January 1997 filed with the Ontario Ministry of Northern Development and Mines. This resource is not compliant to National Instrument 43-101 and should not be relied upon as it has not been verified by a qualified person under these guidelines.
³These results are historic in nature and not 43-101 compliant