Mr. Saf Dhillon reports

QUESTCORP MINING ENGAGES CONTRACTOR FOR COMMENCEMENT OF NORTH ISLAND COPPER IP SURVEY

Questcorp Mining Inc. has chosen Peter W. Walcott and Associates Ltd. of Coquitlam, B.C., to undertake the permitted 10-to-15-line-kilometre induced polarization (IP) survey at the company's 1,168-hectare North Island copper project near Port Hardy on Vancouver Island, British Columbia.

The IP survey will concentrate on the historic Marisa zone, a porphyry copper target last explored in the 1990s. Surface sampling and a preliminary 12.3-line-kilometre IP survey identified an interesting chargeability anomaly that was followed up by a five-hole, 376.43-metre diamond drilling program. Two of the five holes hit interesting copper values, including downhole intervals of 0.078 per cent copper over 56.39 metres in DDH92-01 and 0.041 per cent copper over 70.71 metres in DDH92-03 in an altered quartz diorite. Copper grades were increasing with depth in DDH92-03. The company plans to follow up these historic results (source: geophysical and diamond drilling report on the Marisa property by G.J. Allen and P.G. Dasler dated Feb. 29, 1992, for Great Western Gold Corp.).

"As copper prices continue to climb due to demand and supply issues, the importance of the North Island Copper project increases," commented Questcorp president and chief executive officer Saf Dhillon. "We feel the 1992 preliminary drill results demand further exploration, especially with copper grades increasing with depth to the bottom of one of the historic drill holes. Our setting in the right rocks between the historic Island copper mine and NorthIsle Copper and Gold Inc. further attests to the potential of Questcorp's North Island copper project."

The 2026 IP survey will run lines at the same azimuth, spaced midway between the 1973 IP survey lines, to tighten the coverage over the area. Walcott hopes to incorporate the historic IP with the 2026 data to generate new chargeability and resistivity subsurface elevation plans, along with the 2026 pseudosection lines. The plans and sections will be utilized to generate drill targets for a follow-up drill program. Walcott is expected to mobilize to the property mid-February, with completion anticipated prior to month-end.

Questcorp cautions investors that a qualified person has not verified the historical exploration data and further cautions the presence of copper mineralization on the NorthIsle copper and gold property and the BHP property is not necessarily indicative of similar mineralization on the North Island copper property.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, PGeo (British Columbia), a director of the company and a qualified person under National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Questcorp Mining Inc.

Questcorp is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metal properties of merit. The company holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 1,168.09 hectares comprising the North Island copper property on Vancouver Island, British Columbia, subject to a royalty obligation. The company also holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 2,520.2 hectares comprising the La Union project, located in Sonora, Mexico, subject to a royalty obligation.

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