Record Annual Production Results From Robinson Mine

VANCOUVER, BC - Quadra Mining Ltd. reported the 2008 fourth quarter and annual production results from its 100% owned Robinson Mine located in Ely, Nevada.
In the fourth quarter 2008 copper production was 34.5 million pounds and gold production was 26,913 ounces. Copper production for the year totalled 159.7 million pounds in line with Quadra's revised 2008 guidance of 160 million pounds. Gold production for the year totalled 137,628 ounces, exceeding Quadra's revised 2008 guidance of 130,000 ounces.
Copper and gold production at Robinson was as planned for the fourth quarter with mill feed continuing to be a mixture of hypogene and supergene ore. The strong overall production results at Robinson in 2008 are a result of higher than planned head grades as well as the operating practices and blending strategies developed during the year that delivered higher than anticipated copper and gold recoveries. Annual production performance for 2008 exceeded all production results since the mine commenced operations under the ownership of Quadra and based on records at hand, of any previous operator over the long history of the mine.
Notwithstanding the excellent production record at Robinson, the commodity price collapse resulted in a quarter end copper price of $1.32/lb., a significant drop from the price of $2.91/lb. at the start of the quarter. The associated negative provisional pricing adjustments will have an adverse effect on earnings for the quarter.
Paul Blythe, President & CEO comments, "We are very pleased with the quarterly and annual results from Robinson where we were able to build on our expertise and deliver our best annual production numbers so far. While Carlota produced its first cathode in December, there were no cathode shipments in 2008 as analyses were not completed by year end."
"As previously announced, 2009 production at Robinson is estimated at 130 million pounds of copper and 125,000 ounces of gold, almost all from hypogene ore, which has a lower head grade than the combined supergene and hypogene ore encountered this year. The copper production estimate for Carlota in 2009 is 50 million pounds, as a result of the lower head grades encountered in this first year of operations."
The company's address is Suite 2414, Four Bentall Centre, 1055 Dunsmuir Street, P.O. Box 49185, Vancouver, BC V7X 1K8, 604-689-8550, fax: 604-689-8556.