North Queensland Metals Limited

Conquest Mining Limited (ASX:CQT) (PINK:CQMLF) announces it intends to make an off-market takeover offer (the "Offer") for all of the shares in North Queensland Metals Limited (ASX:NQM). Under the terms of the Offer, Conquest will offer NQM shareholders 0.5 of a Conquest share plus 10 cents cash for every NQM share held, which values NQM at approximately A$58 million or A$0.29 per share.

FINANCE VIDEO: North Queensland Metals (ASX:NQM) CEO John McKinstry Speaks at Sydney RIU Resources Round-up in May 2010

Australian shares Monday extended the drops and hit a one-month closing low, as US President Barack Obama's plan to curb bank risk-taking raised concerns about US banks. At the close, the benchmark S&P/ASX200 index slid 32.7 points, or 0.7 per cent, at 4717.9 while the broader All Ordinaries index slipped 28.8 points, or 0.6 per cent, to 4743.1.

A continuing strong gold market helped North Queensland Metals Limited (ASX:NQM) to a A$2.2 million pre-tax profit for the quarter despite production constraints. An option has been secured over the Dotswood project to give the Company the potential to open a second gold mine, targeted for 2010.

A continuing strong gold market helped North Queensland Metals Limited (ASX:NQM) to a A$2.2 million pre-tax profit for the quarter despite production constraints. An option has been secured over the Dotswood project to give the Company the potential to open a second gold mine, targeted for 2010.

North Queensland Metals Limited (ASX:NQM) provides the opportunity to listen to an audio broadcast with Mr John McKinstry, Chief Executive Officer in a presentation titled "NQM - Secures Option to Purchase Gold Project".

North Queensland Metals Limited (ASX:NQM) announces that it has entered into an option agreement to purchase the Dotswood Gold Project (formerly known as Far Fanning), located 60km southwest of Townsville.

North Queensland Metals Limited (ASX:NQM) For the half year reported a net profit after tax of $6,379,359, a robust result only 12 months after acquiring the Pajingo gold mine.

In the interests of keeping investors informed, North Queensland Metals Limited (ASX:NQM) is providing this progress report on the impact of the extreme seasonal rain on production at NQM's 60% owned Pajingo Gold Mine The Townsville - Charters Towers region has been in the grip of one of the wettest seasons on record, and the impact on the Pajingo mine has now been assessed.

North Queensland Metals Limited (ASX:NQM) has acquired a suite of tin mining leases immediately to the north of NQM's EPM 14741 tenement at Herberton, in far north Queensland.