Queensberry Mining and Development Corp. Disposes of Stake in St. Augustine Gold and Copper Limited

LAS PINAS CITY, Philippines, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Queensberry Mining and Development Corp. ("Queensberry") is pleased to announce that on October 12, 2020 it disposed of 72,000,000 common shares (the "Shares") of St. Augustine Gold and Copper Limited ("SAU") a Philippines based mineral exploration company focusing on the acquisition, exploration and evaluation of mineral properties.

Queensberry has disposed of 72,000,000 of Shares representing approximately 9.9% of the presently issued and outstanding Shares. Immediately prior to the sale, Queensberry owned 290,500,000 Shares (representing approximately 39.97% of the issued and outstanding Shares). Immediately following the sale, Queensberry owns 218,500,000 Shares (representing approximately 30.07% of the issued and outstanding Shares). Queensberry's President and CEO, Manuel Paolo A. Villar, personally has ownership and control over an additional 218,500 Shares (approximately 0.03% of the issued and outstanding Shares).

The securities were disposed of in a private transaction at a price of $0.07 per Share for an aggregate sale price of $5,040,000. Queensberry has disposed of the Shares to liquidate a portion of its holdings to cash, and may, from time to time, increase or decrease its holdings of Shares or other securities of the Company.

Queensberry's head office is located at 3^rd Floor, Star Mall Las Pinas, CV Starr Avenue, Philamlife Village, Pamplona, Las Pinas City, Philippines. For further information please contact JO MARIE LAZARO-LIM at (+632) 32263552 local 0046. SAU's head office is located at 5^th Flr, Pryce Tower, H.P. Laurel Ave., Bajada, Davao City, Philippines, 8000. SAU is listed on the Toronto Stock Exchange under the symbol "SAU".