Mr. Warren Gilman reports

QUEEN'S ROAD CAPITAL ANNOUNCES SALE OF ALL QRC SHARES OWNED BY WYLOO

Queen's Road Capital Investment Ltd. has received notice from Wyloo Metals Pty. Ltd. that Wyloo has entered into binding agreements with a group of non-Canadian investors. The investors have agreed to purchase 107,770,605 common shares of Queen's Road, representing 100 per cent of the Queen's Road shares owned by Wyloo.

Warren Gilman, chairman and chief executive officer commented: "QRC would like to thank Wyloo for its support over the past four years. The Wyloo team believed in the vision we had when we created QRC and were rewarded with a superior return on their investment. The Wyloo sale completely eliminates the significant overhang that has weighed on our shares for many months. We look forward to seeing the share price catch up to the intrinsic value of the company which has seen a substantial upswing over the past several months due in large part to the bull market for uranium equities that represent more than 70 per cent of our current NAV. We would like to take this opportunity to thank current and new investors who have participated in the Wyloo Sale."

The Wyloo sale will be completed off-market and is expected to close in the next two weeks.

About Queen's Road Capital Investment Ltd.

Queen's Road is a dividend-paying, leading financier to the global resource sector. The company is a resource focused investment company, making investments in privately held and publicly traded companies.

We seek Safe Harbor.