Q-Gold/Upper Canyon Joint Venture extends high-grade Mine Centre, Ontario
gold-silver zone

SEC 12g 3-2(b) Exemption No. 82-4931

FORT FRANCES, ON, Oct. 28 /CNW/ - Q-Gold Resources Ltd. (TSX VENTURE:QAU) (FRANKFURT:QX9) (http://www.qgoldresources.com) is pleased to announce on behalf of its Joint Venture with Upper Canyon Minerals Corp. (TSX VENTURE: UCM), the results of a 12-hole, 1,231 meter diamond drill program on their "Nipigon Area" Joint Venture Property located near Mine Centre, Ontario. The companies recently formed a $1.2 million option/joint venture agreement (refer to October 1, 2009 Press Release), covering 2,467.7 acres of gold prospects at Mine Centre.

The Phase I program consisted of 12 "fan" holes drilled from 5 closely spaced (15m) locations, utilizing NQ2 - thin wall sized core. The program evaluated and confirmed the northwest extension of the McKenzie-Gray quartz veined shear zone and related gold, silver and base metal mineralization between 15 and 60 meters northwest of an historic open cut. The McKenzie-Gray vein had been the subject of a 27-ton bulk sample taken in 1984 and diamond drilling in 1992 by the previous owners (see Q-Gold press release dated August 18 , 2009). Phase I results successfully confirmed and extended the mineralized zone indicated by previous drilling.

    
    DRILLING RESULTS
    ----------------
    

All 12 holes intersected the McKenzie-Gray shear zone. The program extended the mineralized portions of the vein an additional 60 meters to the northwest and to a 100 meter vertical depth, for a known total mineralized strike of 150 meters. Mineralization associated with the McKenzie-Gray vein widens at depth over a core width of 11.2 meters at a distance of 30 meters from the historic open cut. This compares favorably to the 1-2 meter wide vein that was bulk sampled on surface. The drilling has delineated a well-mineralized shoot which plunges 45 degrees - 50 degrees to the northwest. The structure remains open in all directions.

The McKenzie-Gray Vein was intersected in Hole QMG09-04 over a core width of 5.5 meters and yielded 11.39 g/t Au and 43.69 g/t Ag. This well-mineralized interval includes two samples that contain visible gold.

Hole QMG09-05 intersected the McKenzie-Gray Vein which returned 16.68 g/t Au, 20.80 g/t Ag and 2.06% Zn over a core width of 9.32 meters at a vertical depth of 55 meters. The hole was drilled in the vicinity of Hole NG92-04 (Nipigon Gold) that reported intersecting 2.92 meters grading 10.94 g/t Au, 90.17 g/t Ag and 2.68% Zn (this intersection is non-compliant with the requirements of NI 43-101 and therefore is not to be relied on for any purpose).

Drill Holes QMG09-09 and 12 tested the shear zone at a distance of 30 and 45 meters respectively to the northwest of Hole QMG09-05. Hole QMG09-09 returned 11.37 g/t Au, 68.0 g/t Ag and 16.96% Zn over a core width 0.62 meters at a vertical depth of 30 meters and Hole QMG09-12 returned 1.57 g/t Au, 15.45 g/t Ag and 1.09% Zn over a core width of 6.28 meters including 8.09 g/t Au, 50.27 g/t Ag and 2.88% Zn over a core width of 0.86 meters at a vertical depth of 75 meters.

All 12 holes, as shown in the Table below, encountered significant sulfide mineralization. Eleven of the 12 encountered significant gold values, with the exception of Hole QMG09-02. This hole, however, yielded 32.2 g/t silver over a core width of 11.2 meters from 62.5 to 73.7 meters and 10.39 g/t silver over a core width of 9.67 meters, including an interval with a core width of 2.15 meters, which ran 31.7 g/t silver.

    
    SUMMARY OF 2009 MCKENZIE-GREY (MG) DRILL PROGRAM
    ------------------------------------------------

    -------------------------------------------------------------------------
    Drillhole   From       To    Width    Gold    Silver     Zinc
    No.           (m)      (m)      (m)   (g/t)     (g/t)     (%)    Target
    -------------------------------------------------------------------------

    QMG09-01   52.65    56.60     3.95    0.67      6.03    1.06
               56.75    58.04     1.29    6.61     33.15    3.47     MG Vein
               58.63    65.00     4.77    3.10     36.87   11.10
               72.20    74.62     2.42    0.37     28.70    0.03   East Vein

    -------------------------------------------------------------------------
    QMG09-02   62.50    73.70    11.20    0.06     32.30    0.03     MG Vein
               77.55    87.22     9.67    0.05     10.39   0.003   East Vein
               including
               77.55    79.70     2.15    0.15     31.70    0.01

    -------------------------------------------------------------------------
    QMG09-03   75.71    79.97     4.26    0.42     23.73    0.68     MG Vein
               Including
               77.96    79.97     2.01    0.44     46.10    1.36

    -------------------------------------------------------------------------
    QMG09-04   43.25    48.75     5.50   11.39     43.69    3.13     MG Vein
               56.85    57.40     0.55    4.24     29.60   16.82   East Vein

    -------------------------------------------------------------------------
    QMG09-05   62.60    71.92     9.32   16.68     20.80    2.06     MG Vein
               80.71    82.83     2.12    0.14  (greater   0.003   East Vein
                                                    than)
                                                     100

    -------------------------------------------------------------------------
    QMG09-06   79.27    87.12     7.85    0.68     21.82    0.40     MG Vein
               Including
               79.27    83.95     4.68    1.16     29.26    0.48

               94.14    94.96     0.82    2.21      4.30    1.07   East Vein

    -------------------------------------------------------------------------
    QMG09-07   46.88    57.58    10.70    1.41      8.98    0.36     MG Vein
               Including
               53.92    56.68     2.76    8.72     13.70    0.94

               66.75    67.46     0.71    0.54     37.76    0.01   East Vein

    -------------------------------------------------------------------------
    QMG09-08   61.37    67.77     6.40    1.40      4.56    0.89     MG Vein
               Including
               61.37    62.66     1.29    8.62     18.07    4.21

               71.45    75.30     3.85    0.02      4.10    0.01   East Vein

    -------------------------------------------------------------------------
    QMG09-09   47.28    47.90     0.62   11.37     68.00   16.96     MG Vein
               53.10    53.50     0.40    0.40      4.42   19.93   East Vein

    -------------------------------------------------------------------------
    QMG09-10   31.16    32.41     1.25    6.59     21.90    0.43     MG Vein
               53.70    57.60     3.90    0.43     17.48    1.34   East Vein
               Including
               53.70    55.90     2.20    0.44     30.40    2.37

    -------------------------------------------------------------------------
    QMG09-11   44.64    49.90     5.26    0.18     13.81    3.24     MG Vein
               Including
               44.64    46.86     2.22    0.37     31.90    7.64

    -------------------------------------------------------------------------
    QMG09-12   52.76    59.04     6.28    1.57     15.45    1.09     MG Vein
               Including
               55.60    56.46     0.86    8.09     50.27    2.88

               67.94    68.57     0.63    0.63      2.39   18.90   East Vein
    -------------------------------------------------------------------------
    

Analyses were carried out on sawn NQ-sized half core sections by TSL Laboratories Inc. (Saskatoon, SK). The TSL quality system conforms to requirements of ISO/IEC Standard 17025 guidelines. Vein samples containing appreciable sulphide content were analyzed using screened metallics analysis. All assays used for grade calculation are uncut and all grade calculations shown above are weighted averages.

    
    GEOLOGY
    -------
    

The property is underlain by northwest and northeast trending shear zones that intrude both tonalite-trondhjemite rocks of the Bad Vermilion felsic intrusion as well as occupy a lithological contact between the felsic rocks mentioned above and layered gabbro-anorthosite rocks of the Bad Vermilion mafic intrusion. The McKenzie-Gray shear zone is a significant northwest trending structure that comprises the McKenzie-Gray Vein and the closely related East Vein. The East Vein is situated on the structural footwall of the McKenzie-Gray Vein. The shear zone trends 315 degrees and dips 65 degrees to 75 degrees to the southwest. It continues for about 200 meters along strike where it intersects the prominent northeast trending Finger Lake - Island Bay shear zone and associated Jolly Roger Vein . The intersection of these two major structures defines an excellent target for the concentration of mineralizing hydrothermal fluids.

    
    FUTURE PLANS
    ------------
    

Q-Gold, Operator for the Joint Venture, will propose to the Management Committee a ground geophysical (induced polarization) survey covering an area over an adjoining approximately 5,100 square meters, thought to contain the McKenzie-Gray, East and Jolly Roger veins. This will delineate additional targets for a Phase II drilling program, which will attempt to significantly expand the McKenzie-Gray gold/silver zone, as well as testing the East and Jolly Roger veins.

    
    SUMMARY
    -------
    

Bruce Carruthers , President and CEO of Q-Gold, said, "On behalf of the Joint Venture, we are extremely pleased with the results of Phase I drilling, which has extended the McKenzie-Gray gold and silver zone strike length to a total of 150 meters. We look forward to further exploration and the possible extension of this high-grade deposit in Phase II." The technical content of this release was reviewed and approved by Kevin Leonard , P.Geo., a Qualified Person as defined by National Instrument 43-101.

    
    About Q-Gold Resources Ltd.
    ---------------------------
    

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its net 29,000 acres of Ontario holdings in the historic Gold Camp at Mine Centre, including 5 historic gold mines. It also has options on 4,796 exploratory acres in Ontario's Rainy River Greenstone Belt. In addition, the Corporation holds options on seven historic gold and silver mines in the historic Arizona gold camp of Crown King, and two prospective copper porphyries and one copper/zinc prospect in Arizona.

    
    About Upper Canyon Minerals Corp.
    ---------------------------------
    

Upper Canyon Minerals Corp. is a growth oriented mineral-exploration resource company trading on the TSX Venture Exchange (Symbol: UCM). The objective of the Company is to enhance its value via high mineralization resource properties with a goal of advancing them into commercial production. The Company is currently exploring two properties: the Josefina Silver and Base Metals Project, located in the Huarochiri Province of Lima, Peru , which comprises 5600 hectares and includes the past producing Josefina Silver and Base Metals mine and the Brosner Gold property located near Val d'Or, Abitibi, in Quebec , Canada . The Brosnor property hosts gold bearing structures, striking east-west, in which quartz-pyrite-tourmaline veins. The most important structure identified to date hosts two main gold zones, namely the Adelemont and Norcourt zones.

    
    ON BEHALF OF Q-GOLD RESOURCES LTD. AND UPPER CANYON MINERALS CORP.

    "J. Bruce Carruthers"                      "Jatinder Bal"
    J. Bruce Carruthers II                     Jatinder (Jack) Bal
    President                                  President & Director
    Q-GOLD RESOURCES LTD.                      UPPER CANYON MINERALS CORP.
    

For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to [email protected] where they can also request addition to the investor email list to receive all future press releases and updates in real time.

For further information on Upper Canyon Minerals Corp., please contact Jack Bal at [phone], fax [phone] & toll free 1-800-667-1442, e-mail [email protected], or visit website www.uppercanyonminerals.com.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company's expectations and projections. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information: Corporate Inquiries, Q-Gold Resources Ltd., J. Bruce Carruthers II, President, 1-888-779-0166, http://www.qgoldresources.com; Investor Relations, AGORACOM Investor Relations, http://www.agoracom.com/IR/Q-Gold, [email protected]