QGX Announces a Financing Update



    TSX - QGX

    WATERDOWN, ON, Sept. 25 /CNW Telbec/ - QGX Ltd. (TSX: QGX) announces that
it is in discussions with JUST Group Industries regarding an extension to the
closing date for the financing announced on July 24, 2007.

    About QGX

    QGX is a Canadian-based company that has been exploring for mineral
deposits in Mongolia since 1994. QGX's two most advanced properties are the
Baruun Naran and the Golden Hills projects. In July 2007 QGX announced that an
independent 43-101 preliminary economic analysis for Baruun Naran showed a net
present value (discounted at 10%) of US$481 million on an after-tax basis. QGX
announced in August 2007 an independent NI 43-101 resource for coking and
thermal coal at Baruun Naran comprised of 93.3 Mt of measured and 159.6 Mt of
indicated (252.9 Mt contained in measured and indicated) and 11.1 Mt of
inferred resources. QGX filed in April 2007 an independent NI 43-101 report
outlining a positive preliminary economic assessment for its
copper-gold-silver project at Golden Hills. Barrick Gold Corp. holds an
approximate 9% equity interest in QGX as part of a strategic relationship
between the two companies.

    The TSX has not reviewed and does not accept responsibility for the
    adequacy or accuracy of this release.
    %SEDAR: 00013803E




For further information:

For further information: David Anderson, Executive Chairman, (905)
689-9442; Paul Zweng, President/CEO, (925) 855-0505; visit our website at
www.qgxgold.com; Renmark Financial Communications Inc.: John Boidman:
jboidman@renmarkfinancial.com; Maurice Dagenais:
mdagenais@renmarkfinancial.com; Media: Adam Ross, aross@renmarkfinancial.com;
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com

Organization Profile

QGX LTD.

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