QGX

OCTOBER 28, 2003 - 14:58 ET

QGX Ltd.: High-grade gold discovered in quartz-gold
veins at Uhaa Hudag

WATERDOWN, ONTARIO--QGX Ltd. (TSX.V: QGX) announces that drilling
of the Uhaa Hudag mesothermal quartz-gold vein system located in
the south-central Gobi desert in Mongolia has returned multiple
intersections of significant gold (see Table 1 below).
Thirty-three samples returned assays of 1 g/t Au or better. The
highest-grade intersection returned 26.3 g/t Au over 1.0 m. The
multiple and high-grade gold intersections on sections 8,400 and
8,600 as well as visible gold in two of the four holes confirm
that the gold-quartz veins exposed on surface extend downward to
greater than 200 meters depth.

The auriferous quartz vein swarm is contained within a 2.5 km
long shear zone. Current drilling has tested only 200 meters of
strike length. A fifth hole drilled to test a sub parallel zone
located several hundred meters to the south was collared on the
edge of the zone and cut quartz veins only in the upper portions
of the drill hole. This target is believed to be significant
given the substantial increase in strength of the associated IP
response.

"We are encouraged by the high-grade intercepts at Uhaa Hudag",
said David Anderson, CEO of QGX. "The abundance of
one-gram-or-better gold intercepts in each of the first four
holes suggests that there is gold throughout the hydrothermal
system", he added. QGX is initiating an IP geophysical survey in
early November to refine targets in the current area of drilling
as well as to explore a new and potentially larger zone located
several hundred meters to the south of the first four drill
holes. QGX plans to drill another series of drill holes at Uhaa
Hudag in late 2003 or early 2004.

As indicated in the September 22nd QA-QC procedures identified
problems in reproducing assay results in duplicate samples of
samples containing elevated levels of gold. To evaluate this
problem, the entire pulp from samples containing greater than 0.5
g/t gold were re-analyzed by metallic fire assay. The coarse
fraction of these pulps (greater than 150 mesh) typically
contained 10 to greater than 100 times higher concentration of
gold relative to the fine fraction (less than 150 mesh),
confirming that the lack of reproducibility between the
sample-duplicate sample pairs is due to the presence of
coarse-grained gold in these samples. This is not uncommon for
this type of mineralization.

Future samples will need to be comprised of the entire halved
core instead of the past practice of sampling splits from the
halved core. In this way all of the gold contained in the halved
core will be analyzed, thus providing a more meaningful measure
of the gold tenor for each sample. The reader is cautioned that
the assays presented in Table 1 are not certifiable as to the
absolute value of gold contained in the samples.

Patrick Redman, Chief Geologist of QGX Ltd., is the Qualified
Person as defined by NI 43-101, and has verified that the results
presented in this press release have been accurately summarized
from the official assay certificates provided to the Company.
SGS/Analabs in Manlai, Mongolia, prepared the samples. Activation
Labs (Actlabs) in Ancaster, Ontario and Tucson, Arizona,
performed the metallic and conventional fire gold assays shown in
Table 1. Analabs/SGS in Ulaanbaatar, Mongolia, performed check
fire assays on UH03-03 and UB03-04. The Company maintains a QA-QC
program designed by AMEC in the preparation, shipping and
checking of all samples from the property.



Table 1. Drill Intercepts of Gold-Bearing Quartz Veins, Uhaa
Hudag, Mongolia.

 
  
                            Interval    Actlabs-    Actlabs- SGS/Analabs- 
 Drill                        Length          MA        fire         fire 
 Hole        From        To      (m)    Au (g/t)    Au (g/t)     Au (g/t) 
 ------------------------------------------------------------------------ 
  
 UH03-01   112.70    114.20     1.50        1.87        1.70           ND 
  
 UH03-01   136.50    138.00     1.50        3.34       10.00           ND 
  
 UH03-01   182.25    183.55     1.30   1.07/1.69   1.20/1.37           ND 
 UH03-01   186.30    187.30     1.00        2.18        4.87           ND 
 UH03-01   187.30    188.30     1.00        1.29        1.70           ND 
 UH03-01   188.30    189.30     1.00        0.80        1.30           ND 
 UH03-01   191.85    193.00     1.15        1.58        1.30           ND 
  
 UH03-01   198.50    199.65     1.15       13.65        8.50           ND 
  
 UH03-01   219.40    220.40     1.00       26.30       17.40           ND 
 UH03-01   220.40    221.40     1.00   2.20/0.86   2.50/0.67           ND 
 UH03-01   225.90    227.00     1.10        1.43        1.96           ND 
  
 ------------------------------------------------------------------------ 
  
 UH03-02   171.50    172.50     1.00        2.93        2.10           ND 
  
 UH03-02   188.50    189.70     1.20        1.98        0.82           ND 
 UH03-02   191.80    192.80     1.00        2.88        2.05           ND 
  
 UH03-02   246.50    248.00     1.50        2.95        2.10           ND 
  
 ------------------------------------------------------------------------ 
  
 UH03-03   176.70    177.70     1.00   1.11/0.30   0.91/0.21    1.78/0.26 
 UH03-03   183.40    184.40     1.00        0.72        0.63         1.21 
 UH03-03   188.00    189.50     1.50        0.69        0.88         1.00 
 UH03-03   189.50    190.60     1.10        0.11        0.16         2.25 
  
 UH03-03   213.20    214.55     1.35        1.76        1.45         1.08 
 UH03-03   214.55    215.40     0.85        0.40        0.62         2.41 
 UH03-03   217.40    218.40     1.00        1.22        0.91         1.50 
  
 UH03-03   243.40    244.00     0.60        4.77        5.59         3.38 
  
 UH03-03   278.05    279.00     0.95        4.73        3.78         2.55 
 UH03-03   279.00    280.00     1.00   1.71/6.00   1.35/6.34    1.04/9.83 
  
 ------------------------------------------------------------------------ 
  
 UH03-04   104.60    106.00     1.40        0.92        1.06         0.74 
  
 UH03-04   116.55    117.55     1.00        1.53        1.41         1.41 
  
 UH03-04   150.00    151.25     1.25   1.46/1.42   1.23/1.03           ND 
  
 UH03-04   157.80    159.00     1.20   0.52/0.77   0.40/0.63    0.60/1.10 
 UH03-04   159.00    160.25     1.25   2.81/0.32   1.28/0.28    0.63/0.31 
  
 UH03-04   165.20    166.00     0.80       13.11        7.27        16.46 
 UH03-04   166.00    167.50     1.50        2.05        1.44        13.20 
  
 UH03-04   190.50    192.00     1.50        1.63        1.08           ND 
  
 ------------------------------------------------------------------------ 
  
 UH03-05                           No significant values 
  
 ------------------------------------------------------------------------ 
  
 Drill 
 Hole 
 Number   Section  Northing  Azimuth      Plunge 
  
 UH03-01    8,600    11,030      360         -60 
 UH03-02    8,600    10,950      360         -65 
 UH03-03    8,400    10,900        2         -60 
 UH03-04    8,400    11,040        3         -60 
 UH03-05     7635    10,157      340         -60 
  
 ------------------------------------------------------------------------ 
  
 

QGX

OCTOBER 28, 2003 - 14:46 ET

QGX Ltd.: Drilling Continues at the Central Valley Zone,
Golden Hills

WATERDOWN, ONTARIO--

Porphyry Drill Target Identified at Erdene Tolgoi (SE Mongolia)

QGX Ltd. (TSX.V: QGX) is currently conducting exploration
programs at Golden Hills, Erdene Tolgoi (SE Mongolia), and Uhaa
Hudag (located approximately 120 km north of Oyu Tolgoi). This
release is intended to provide an exploration update on the first
two programs.

Highlights of these programs are as follows:

Golden Hills: Drilling at the Central Valley Zone at Golden Hills
recommenced on August 31st. Eight holes have been drilled to
date. The drilling has been hampered by poor recovery in the
gossan as well as a temporary breakdown of the drill rig from
October 8th to 24th. A new drilling crew commenced drilling on
October 24th. A drilling consultant is scheduled to arrive on the
property on October 29th to improve core recovery.

The majority of the holes drilled in the most recent campaign
have targeted massive sulfide on section 10,400 E where
copper-bearing massive sulfide was discovered in CVZ-40 (please
see press release of September 3rd). While assay results have not
been received, the on-site geologists are reporting that the
massive sulphide consists mainly of pyrite with minor to moderate
quantities of secondary-enriched copper and primary copper in
some of the intersections.

Gossan has been intersected at the North Zone. A series of
post-mineral faults and an associated thickening of colluvium
(valley fill) in the area of 10,400 E and 10,300 E have limited
the size of the gossan intersections. Drilling is now focused on
testing the gossan and massive sulfide to the west of 10,300 E
where structural complications are not anticipated. The current
hole is designed to test for gossan on line 9940 E where a trench
returned 5 g/t gold over 10.9 m (see September 3rd press
release).

Assays for the eight holes are pending and should be available in
November.

Erdene Tolgoi: Recently completed geophysical surveys show that
the Chuluut breccia pipe is spatially coincident with an Induced
Polarization (IP) chargeability anomaly and a magnetic high. The
Chuluut breccia pipe, located within QGX's Erdene Tolgoi
exploration license in SE Mongolia, was discovered by QGX in
August 2003. Chip samples from exploration pits in the weathered
near-surface portion of the breccia pipe contain up to 1.75%
copper (see September 22nd press release). The IP/Mag surveys
were designed to evaluate a 25 sq. km area around the breccia
pipe. Preliminary results are encouraging, with a number of
chargeability anomalies and magnetic highs being identified
within the survey area in addition to the response from the
Chuluut breccia pipe.

A soil-sampling program, covering the same 25 sq. km area as the
geophysical surveys, also has been completed. Geological mapping
of the Chuluut prospect, utilizing high-resolution QuickbirdII
satellite imagery, is ongoing. Analysis and integration of the
geophysical, geochemical and mapping data will be completed by
early December.

QGX has also completed a stream-sediment sampling program
covering approximately 200 sq. km in SE Mongolia, including the
areas surrounding both the Chuluut and Erdene Tolgoi prospects.
Analytical results from this program should be available by the
end of November.

"We are encouraged that the geophysical surveys are corroborating
the alteration-mineralization patterns established by the
geologic mapping as well as indicating new areas of interest
below the thin sediment cover", said David Anderson, CEO of QGX.
He added, "The chargeability anomalies suggest sulphides occur at
depth, presenting an exciting porphyry drill target. We plan to
drill these targets as soon as a drill rig becomes available".

QGX is in the process of negotiating a new drill-rig contract
that will provide the Company with a second and dedicated drill
to ensure continuity in the exploration programs. In addition to
the on-going drill program at Golden Hills, the additional drill
rig will enable QGX to continue the drill testing at Uhaa Hudag,
initiate a program at Erdene Tolgoi, and to advance the numerous
exploration projects contained within its 30,000 sq. km of
licenses. QGX is also considering importing a third drill rig
into Mongolia in early 2004.

About QGX

QGX is a Canadian-based mineral exploration company that has been
exploring for mineral deposits in Mongolia since 1994. The
Company is conducting exploration programs on multiple targets in
Mongolia with a primary focus on its Golden Hills prospect where
drilling to date has encountered significant gold, silver and
copper mineralization near surface. The Company also has a
carried interest through to production in three advanced
exploration prospects (Kharmagtai -10%; Ovoot Hyar and Shuteen -
20% each) that are being explored by Ivanhoe Mines Ltd.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
QGX Ltd.
David Anderson
CEO
(905) 689-9442
or
QGX Ltd.
Paul Zweng
COO
(925)-855-0505
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.

QGX Ltd.: Breccia Pipe Discovered in New Porphyry Copper Belt Update on Uhaa Hudag Drill Program

http://biz.yahoo.com/ccn/030922/0761a226459cec42615ac59a40b5d074_1.html

North Zone returns 31.5m of 3.4% Copper, 0.8 g/t Gold and 20.1 g/t Silver in Hole CVZ 40 5.0 g/t Au over 10.9 m in North Zone Trench

http://biz.yahoo.com/ccn/030903/8b7bcaa1d8d075d976160165f698bfcd_1.html

You've gotta admit. Eric's been in rare form on this thread. The last two get me ready to fall out of my chair, even rereading them.

QGX Ltd. Two New Mineralized Zones Confirmed at Golden Hills
Wednesday August 20, 11:35 am ET


CVZ-30 intersects 31.5 m of 13.8 g/t Au in South Zone

CVZ-32 intersects 19.6m of 5.32 g/t Au in South Zone

CVZ-40 intersects 131 m of massive sulphide in North Zone

http://biz.yahoo.com/ccn/030820/1a6e8d0eaf4d4a1dfda193ce2837c51b_1.html

QGX Ltd.: Drilling Resumes At Golden Hills

Second Gossan Zone-"Southern Zone"-- Discovered

QGX Ltd. (TSX.V: QGX) has resumed drilling at the Central Valley Zone on its Golden Hills Prospect in Mongolia. The company is currently drilling the second hole of an approximately 2000 m program. Drilling in November 2002 and February 2003 outlined a zone of gold in oxide/gossan over a strike length of approximately 800 m. The gossan represents the remnant cap of an oxidized massive sulphide body. In most cases the zone was tested with one or two holes on section over the 800 m strike length. The new drill program is designed to test the on-strike extension of this zone, the up- and down-dip extent of the intersected gold-bearing gossan and new geophysical targets outlined by the recent electromagnetic survey.
http://biz.yahoo.com/ccn/030626/b91bf24d2fbc6fb58d323b4350cc1351_1.html

QGX Ltd.: Extension of Porphyry Belt in Southeastern Mongolia

WATERDOWN, ONTARIO--QGX Ltd. (TSX.V: QGX) announces that it was acquired several licenses covering approximately 10,000 sq km in southeastern Mongolia that are prospective for porphyry Cu-Au deposits. The area was selected on the basis of regional tectonic and metallogenic analysis and is considered to represent the faulted and offset continuation of the Cu-Au porphyry belt of southern Mongolia hosting Cu-porphyry deposits such as Oyu Tolgoi, Tsagaan Suvargaa, Kharmagtai, and Shuteen. QGX believes that the southeastern belt, which has had very little prior exploration, holds similar potential to the southern Mongolia belt for hosting world-class porphyry Cu-Au deposits.

http://biz.yahoo.com/ccn/030516/b96818160befbcf5153a04917bf8ab13_1.html

Ok, a small position is fine, and thread is ok, but we are monitoring your percentage ownership at the SEC, and if ownership exceeds 9.0% per anno, your enthusiasm attains a frequency of more than 18.3 VBS, (as outlined by your cardio-embolic financial chart), and positive verbal output exceeds 4.8 FOG* per datum, and 30.1 Data PD, then we will ask you to register as an official Mongoloid Investment Advicer, and be prepared to give interviews on ROBtv with a Paisely Meringue tie. Ties are available at Harry's Happy Dweeb Wear, Wall St, NY or at the SEC offices in your locale. We would advise you that certain investment advicers who failed to register (see announcement at CCNMatthews, "Kelowna Day Trader" April 28, http://ccnmatthews.com/ ), have been subjected to overwhelming, draconian, and just simply ridiculous penalties, even if you ask us about it.

* we have no idea what it means.

EC<:-}

Nahhh, I just have a small position, but it's big enuff to get a person worked up enuff to start a thread dedicated to it. :)

When you are doing volume accumulation a good strategy is to take the difference between the low and the close, and the high and the close, and average them, as this is more accurate indication of a stock's net move than just the change from close to close. If you take QGX's median price from high to low, then it is on a more or less steady upward trend. That is if you squint real hard, turn your head to the right, or left as the case of your handedness may be, and blink at a fibonacci rate of change as the chart moves from left to right.

The real reason for QGX's lackluster performance may be put down to several factors.

1. The news came out. All stocks are supposed to move down when they put out news. Particularly the ones you happen to be overbought in.

2. It is a national holiday in Mongolia. Either Kublai Khan's third grandson's birth or death, or Genghis Khan's horse's first Triple Crown.

3. They are giving away gold wafers with every pound of recycled yak dung in Ulan Bator on Mondays.

4. George Bush burped and Alan Greenspan suffered a dizzy spell when he got up to give his annual state of the Fed address at the luncheon for power brokers at a DC hotel today. Later GWB announced he was going to take a golden retirement after this term in office. He then apologized. He said he realized that gold was a dirty word on Wall Street. Later he took it back, as he meant to retire after his next term in office. Later he took that back, as he meant, if he got elected. Later he took that back, and said that it was if he decided to run. Later he took that back, and said he was sure he was going to run, if he felt like it.

5. There was an announcement in Indian Parliament that were going to vote on making the rupee convertible. Later they corrected that and stated that they meant convertible to more rupees.

6. The dow rose today.

EC<:-}

I noticed that QGX is down today because they found gold...about those turds...I betcha there's more money in collecting those things and turning them into protein tablets for the rich then there is in developing a gold/copper deposit.

Note Yak Turds in the Foreground. They are the white, rounded shapes laying flat on the plain. They are believed to be left by Giant Yaks.

QGX Reports More Gold-Bearing Oxide/Gossan At Golden Hills, Mongolia
Monday April 28, 9:02 am ET


WATERDOWN, ONTARIO--QGX Ltd. (TSX Venture Exchange: QGX - News) reported today on further results from diamond drilling being carried out on its Golden Hills prospect in western Mongolia. The drilling was confined to a three km portion of the Central Valley Zone (CVZ), part of a seven km, east-west trending geophysical anomaly that remains open at both ends. The program consisted of fifteen diamond core holes (ending at Hole CVZ-022) to test the on-strike, eastern extension of the gold-bearing gossans drilled in the western end of the CVZ last October. Drill results in October included 48 m @ 3.8 g/t Au (CVZ-01) and 71.4 m @ 2.1 g/t Au (CVZ-02). (see map at http://www.qgxgold.com).

Highlights of the additional holes (see Table 1) include intercepts in oxide/gossan of:

 
 - 3.1 g/t gold over 16.4 m (64.0-80.4 m) in Hole CVZ-020; 
 - 2.0 g/t gold over 20.2 m (30.0-50.2 m) in Hole CVZ-021; 
 - 1.4 g/t gold over 40.0 m (22.5-66.5 m) in Hole CVZ-022, and 
 - 4.2 g/t gold over 11.9 m (8.1-20.0 m) in Hole CVZ-016 
 - 7.9 g/t gold over 7.7 m (61.4-69 m) in Hole CVZ-015 
 

One of the things I find amazing about this stock is the volatility...you'd think there's something really big going on by the way the stock can double in a blink of an eye.

She ain't no laggard and I wouldn't be surprised to see some real action next week in anticipation of "whatever" announcement their going to make during their presentation.

I found their latest PR to be somewhat leading...

Regards,
Michael..........

Conference call Feb.5 -- Wed.
http://biz.yahoo.com/ccn/030131/ffb7819e503cf9c789fde759b9f316e8_1.html

QGX Ltd. Drilling Intersects Gold at Limestone Ridge

 
  
 Drill Hole    From - To (meters)      Results g/t au 
 DDH LR1       50.6 - 61               2.08 (including 2.4 m @ 7.45 g) 
               73 - 75                 5.13 
               94 - 95                 1.14 
  
 DDH LR2       150 - 158               1.2 
               175 - 177               1.62 
  
 DDH LR3       70.65 - 71              3.83 
               137 - 138               2.63 
               139.5 - 140             2.4