QRS Signs Letter of Intent for Option to Acquire Aurum Copper Project in Chile

QRS Capital Corp. (TSX VENTURE:QRS) ("QRS" or the "Company") is pleased to
announce a Letter of Intent (LOI) to enter into an Option agreement to acquire
100% of the Aurum Copper project in the III Region of Atacama, Chile. 


Project Description 

The Aurum Copper (Aurum) project consists of 17 individual concessions located
in the III Region of Atacama, Huasco Province and Commune of Alto del Carmen,
Chile. Totalling an area of 3,560 ha, the property covers a 20 km2 northeast
elongate copper, silver and gold bearing zone hosted in skarned volcanics,
sediments and dacitic porphyry bodies. The project is located within the
regionally extensive north trending San Felix fault system that hosts numerous
copper and gold bearing systems and is located only 12km from Teck Resources
Ltd.'s 1,104 Mt @ 0.41% El Relincho copper-molybdenum deposit. There had been
extensive small scale high-grade copper mining throughout the property
historically, and modern exploration over the past 50 years including geological
mapping, soils geochemistry, surface trenching and a Induced Polarization (IP)
survey which delineated an open-ended northeast anomaly approx. 150-400 m wide
and 2.2 km long. A number of historic non-N1 43-101 resources have been
calculated with estimates as high as 20 Mt of 1% Cu oxide at surface around one
of the main anomalies. 


QRS's CEO, John Seaman, stated, "We are very excited to have signed an LOI on
the Aurum copper project. The Aurum project has only been partially explored
with some significant high grade copper deposits and intersections discovered to
date and there is every indication that it has the potential to host a large
tonnage copper deposit. The property is ideally situated at low elevation with
good road access, ready access to water, town, ports and power, and a year round
hospitable climate. The historic work and historic resources provide and
excellent foundation to build on and we look forward to rapidly advancing the
project and expanding the resources to their full potential." 


Historic Work 

The area is known to have been worked for silver and gold as far back as the
late 1800's with copper being high-graded in the 1930's through to the late
1960's. It is estimated that approximately 5,000 tonnes of high grade oxide ore
may have been extracted from extensive mine workings located in the centre of
the Carmen/Tabaco Mine vein system to a depth of 90 m, some of which was
reported to have run over 25 % copper, up to 12,500 g/t silver and from 1.5 to
30 g/t gold. 


From 1962 to 2006, significant historical exploration work was carried out on a
small part of the property and included geological mapping, chip and trench
sampling, soils geochemistry, shallow percussion drilling, geophysics and follow
up reverse circulation and diamond drilling. 


In 1962-1964 Minera Metalmine (Metalmine) completed 56 percussion drill holes
totalling 1,680 m to an average depth of 30 m on the Aurum property and
confirmed the presence of a shallow copper oxide deposit over an area of
approximately 170,000 m2. 


In 1992-1993 a small geochemical soils sampling program was carried out adjacent
to the deposit by Blue Ridge Resources.


In 2002 International PBX Ventures Ltd (IPBX) completed geological mapping,
soils geochemistry (785 samples), surface trenching and a 30 line km Induced
Polarization (IP) geophysical survey. The IP survey delineated an open-ended
northeast elongate anomaly some 150-400m wide and 2.2 km long flanking and
extending a further 700 m northeast and 800 m southwest of the Metalmine
drilling.


From 2003 to 2006 IPBX executed two drill programs (primarily diamond drilling)
totalling 92 holes (8,340 m) to investigate the source of the IP anomaly and to
provide the basis for a preliminary resource estimate of the copper oxide zone.
Holes drilled to test the IP anomaly intersected significant widths of copper
sulphides including 25 m grading 1.61% Cu and 144 m grading 0.43% Cu and
confirmed the source of the anomaly.


Historic Resource 

In 1964 Metalmine estimated a copper resource of 18 Mt of approx. 1% soluble
copper to a vertical depth of 30 m, covering some 750 m of the 2,200 m of strike
of the main copper bearing skarn zone which is one of three such zones on the
property. In 1993 Blue Ridge Resources estimated, within the same area and to a
depth of 25 m, a resource of about 20 Mt of similar copper grade. 


In 2006, International PBX Ventures Ltd. contracted SRK Consulting to estimate a
copper resource based on 74 out of the 92 holes (6,637 m) drilled and reported
an indicated resources of 1.827 Mt of 0.59% Cu oxides with a secondary enriched
zone 1.743 Mt of 0.70% Cu and an inferred resources of 0.836 Mt of 0.59% Cu
oxides with a secondary enriched zone of 1.193 Mt of 0.49% Cu as stated in the
unpublished January 25, 2007 technical report.


The data used to estimate the above historic resources no longer exists either
whole or in part. Hence at this time they cannot be verified by a qualified
person as current mineral resources and the Company is not treating them as
such. Re-logging, check assaying of the mineralised intervals and rock density
studies on the IPBX drill core, which is still stored on site, will need to be
done by a qualified person, as a minimum to verify and validate the 2007
historic resources.


Location and Access to Infrastructure 

The Aurum property is located approximately 85 km east-southeast of the city of
Vallenar, and is reached from Vallenar by paved (27 km) and gravel roads
constructed and maintained by Teck to service its El Relincho Project.
Industrial use water is available in the Corral de Pirca creek within the
property limits and water rights to several claims in the creek valley are
included with the mining title. The site is located 12 km from the town of Alto
del Carmen and the main Chilean northern electrical grid. The favourable climate
provides year-round working conditions and there is cell phone coverage in the
area for communications. 


Terms of Agreement 

Pursuant to the LOI signed on October 19, 2012, QRS will have the right to
acquire 100% interest in the Aurum Project by making the following payments to
the vendor as follows:




--  US$50,000 on signing of LOI 
--  US$300,000 upon signing of the definitive option agreement (the
    "Definitive Option Agreement"), which must be signed no later than 75
    days from the date of LOI 
--  US$350,000 within 6 months of the date of the Definitive Option
    Agreement 
--  US$400,000 within 12 months of the date of the Definitive Option
    Agreement 
--  US$450,000 within 18 months of the date of the Definitive Option
    Agreement 
--  US$500,000 within 24 months of the date of the Definitive Option
    Agreement 
--  US$550,000 within 30 months of the date of the Definitive Option
    Agreement 
--  US$550,000 within 36 months of the date of the Definitive Option
    Agreement 
--  US$900,000 within 42 months of the date of the Definitive Option
    Agreement 
--  US$900,000 within 48 months of the date of the Definitive Option
    Agreement 
--  US$3,050,000 within 51 months of the date of the Definitive Option
    Agreement



Under the terms of the option agreement, the Company is also committed to an
eight semester Exploration Work program totalling US$12 million over a 4 year
period.


Upon satisfying the above option payments and work program, the Company will
have the right to acquire 100% of the Aurum project by making a payment of
US$0.02/lb of recoverable copper contained in resources up to 80,000,000 tons as
demonstrated by a Bankable Feasibility Study. US$0.01/lb will be paid for any
recoverable copper contained in resources in excess of 80,000,000 tons. The
recoverable contained copper will be determined by applying a formula of tons of
Proven and Probable Mineral Reserves (as defined by the CIM Definition Standards
on Mineral Resources and Mineral Reserves) multiplied by the average copper
grade multiplied by a fixed 80% recovery factor. Additionally, the vendors will
maintain a 1.5 % Net Smelter Royalty (NSR) on the production of any metallic and
non-metallic resource.


Qualified Person 

Mr. Terence Walker, M.Sc., P.Geo., a qualified person within the meaning of
National Instrument 43-101 has reviewed and approved the contents of this news
release. Mr. Walker is an independent consultant to the Company.


About QRS Capital Corp. 

QRS is a mineral exploration company actively seeking exploration stage copper
and gold targets in South America, particularly in Chile, Colombia, Brazil, and
Ecuador.


ON BEHALF OF THE BOARD OF DIRECTORS

Diego Benalcazar, President and Director

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release
includes certain information that may constitute "forward-looking information"
under applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements about future acquisitions and
objectives, exploration results relating to the Aurum-Copper property, expected
time of completion of the definitive option agreement, exploration plans for the
Aurum-Copper property and the completion of the acquisition of the Aurum-Copper
property by QRS. Forward-looking information is necessarily based upon a number
of estimates and assumptions that, while considered reasonable, are subject to
known and unknown risks, uncertainties, and other factors which may cause the
actual results and future events to differ materially from those expressed or
implied by such forward-looking information, including the risks identified in
the Company's disclosure documents. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking information. All
forward-looking information contained in this press release is given as of the
date hereof and is based upon the opinions and estimates of management and
information available to management as at the date hereof. The Company disclaims
any intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, except as
required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Apex Capital Inc.
Brett Allan
416-907-4148
[e-mail]