Quadra Increases 2008 Production Guidance

VANCOUVER, BC - Quadra Mining Ltd. reported a new production record of 44.6 million pounds of copper and 42,348 ounces of gold from its 100% owned Robinson Mine for the second quarter of 2008. As a result of the continuing strong performance at Robinson, the Company is increasing its 2008 annual metal production guidance from 130 million pounds to 150 million pounds of copper and from 100,000 ounces to 115,000 ounces of gold.
In the second quarter 2008, Robinson continued to process ore primarily from the hypogene zone in the Veteran pit which contained higher than average head grades for both copper and gold. The higher associated recoveries, due to a head grade - recovery relationship, in conjunction with the blending and reagent strategies developed late in 2007, resulted in some of the highest recoveries so far to be achieved from the Veteran pit. As a result and following a look forward re-assessment, production guidance for 2008 has been increased to 150 million pounds of copper and 115,000 ounces of gold.
During the second half of the year, Robinson is scheduled to process more mill feed from the supergene ore which has typically resulted in lower metal production. While the operation now has significant experience with the supergene material, it will not be able to completely mitigate some of the challenges inherent in this complex ore zone. The revised guidance takes into consideration the variability in grades, recoveries and concentrate grade that is expected for the remainder of the year based on recent blast hole drilling and the existing block model.
Paul Blythe, President & CEO of Quadra, said, "We are very pleased with the exceptional year to date performance at Robinson and the continued success of the blending and other strategies that we have developed. Coupled with strong metal prices and the volume of sales, we are expecting to deliver another solid quarter when earnings are released in mid August. We have reviewed and updated our guidance to reflect results to date, our increased confidence in our operating strategies and the expected impact of the supergene zone as the year progresses."
The company's address is Suite 2000, 1177 West Hastings Street, Vancouver, BC V6E 2K3, 604-689-8550, fax: 604-689-8556.