Quinto Mining Corp.: Corporate update

    TSX.V: QU

    DELTA, B.C., Jan. 30 /CNW Telbec/ - Quinto Mining (TSX-V: QU) - Quinto
Mining Corporation would like to update our shareholders on the progress of
the company. During the past 12 months we have raised more than $6.5 million
dollars. This money has been utilized primarily to advance our two main
projects, Peppler Lake iron and Lac Gueret graphite. In the past year we have
demonstrated that both of these projects are on their way towards either a
pre-feasibility or feasibility study. As per a previous news release, the goal
of the 2006 work program at Peppler Lake iron was to confirm the results
achieved by U.S. Steel and Quebec Cartier Mining in the 1960's. We have
accomplished this, now the immediate goal for Peppler Lake iron in 2007 is to
explore the satellite iron properties near to Peppler Lake in order to develop
a much larger iron property in the area. Management is confident that we will
be able to increase both the size and the profile of the Peppler Lake iron
project. The work programs on these satellite properties are scheduled to
begin this week.
    In respect to our Lac Gueret graphite property, the 2006 drilling results
were extremely encouraging. Management and consultants have believed for the
past few years that Lac Gueret graphite offered the potential to become a
world class property both in size and quality. The results of the recent drill
program served as confirmation for us. We are now in a position to begin a
feasibility study on this project.
    In addition to these two advanced stage projects, Quinto had a number of
other exciting properties in our portfolio. We do not have the requisite
financial or manpower needs to adequately explore these projects on our own,
as a result Quinto has decided to option some of our more promising properties
and to drop those that failed to deliver on their early promise. In late 2006
and early 2007 Quinto Mining has optioned our Bornite Hill copper, B-100
nickel, Lumby mica, and most recently our Godbout uranium property. To earn
their interest in our properties, our partners are required to spend money
exploring the potential of each project. On both the Bornite Hill copper and
the B-100 nickel our partner will have to spend $1 million on each property
over a five year period in order to earn a 50% interest. As for the recently
acquired Godbout uranium our partner can earn a 75% interest by spending    
$1.3 million over two years or a 50% interest by spending $325,000 in the
first year. The Lumby project is still in the due diligence phase, details
will be released when finalized.
    As you can see the company has two outstanding projects, a number of
exciting projects joint ventured and is well financed to bring our goal of
becoming a producing mining company to fruition. The management and Board of
Directors would like to thank you for your continued support. We trust that
this update will serve as a reminder of Quinto Mining Corporation's progress.

    This press release was prepared by the Management of the Company, who
take full responsibility for its contents. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release.

    On Behalf of the Board of Directors

    Tyrone Docherty

For further information:

For further information: Head Office : Frank Chaid, (604) 952-0900,
quinto@dccnet.com; www.quintomining.com; Investor Relations: Renmark Financial
Communications Inc., Henri Perron, hperron@renmarkfinancial.com; Danielle
Velez:, dvelez@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717;

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