Queenstake Announces First Quarter 2006 Results Conference Call

DENVER, May 9  /PRNewswire-FirstCall/ -- Queenstake Resources Ltd. (TSX: QRL; Amex: QEE) will announce its first quarter 2006 results on Wednesday, May 10th and will hold a conference call hosted by President and Chief Executive Officer Dorian (Dusty) Nicol to review the quarter highlights at 1:00 p.m. Eastern Daylight Time that day.

  The conference call may be accessed by telephone:

  United States and Canada (Toll-Free): 1-866-672-2663
  International (Toll): 1-973-582-2822



The conference call may also be accessed via the Queenstake web site at http://www.queenstake.com/, under the Audio Webcast Link on the homepage.

  A replay of this call will be available for a limited time on the
  Queenstake web site or by calling:

  United States and Canada (Toll Free): 1-877-519-4471
  International (Toll): 1-973-341-3080
  Replay Pin Number: 7360912



Queenstake Resources Ltd. is a gold mining and exploration company based in Denver, Colorado.  Its principal asset is the wholly owned Jerritt Canyon gold operations in Nevada.  Jerritt Canyon has produced over seven million ounces of gold from open pit and underground mines since 1981.  Current production at the property is from underground mines.  The Jerritt Canyon District comprises 119 square miles (308 square kilometers) of geologically prospective ground, controlled by Queenstake, representing one of the largest contiguous exploration properties in Nevada.

  For further information call:
  Wendy Yang 303-297-1557 ext. 105
  800-276-6070
  Email --    web -- http://www.queenstake.com/



Cautionary Statement -- This news release contains "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995.  All statements, other than statements of historical fact, included in this release, and Queenstake's future plans are forward-looking statements that involve various known and unknown risks and uncertainties. Such forward-looking statements include, without limitation, (i) estimates and projections of future gold production and cash operating costs, (ii) estimates of savings or cost reductions and (iii) estimates related to financial performance, including cash flow.  Forward-looking statements are subject to risks, uncertainties and other factors, including gold and other commodity price volatility, political and operational risks, mine development, production and cost estimate risks and other risks which are described in the Company's most recent Annual Report on Form 40-F on file with the Securities and Exchange Commission (SEC), as it may be updated in subsequent filings. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on forward-looking statements.  The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 

DATASOURCE: Queenstake Resources Ltd.



CONTACT:  Wendy Yang of Queenstake Resources Ltd., [phone],

Ext. 105, or [phone], 



Web site:  http://www.queenstake.com/ 

Copyright