QGX is a Canadian based mineral exploration company that has been exploring for mineral deposits in Mongolia since 1994. Mongolia may be considered one of the "last frontiers" for mineral exploration. The geology is highly prospective for large-scale mineral deposits but the country is vastly under-explored.

QGX was the first western company to acquire a mineral exploration license in Mongolia following the country's transition from Soviet control to a democracy in the early 1990's. The Company has an extensive knowledge base of the geology of Mongolia, having operated several large-scale as well as detailed exploration programs in the country since 1994. QGX is also very well known and respected in Mongolia, having maintained an active presence in the country since 1994 and having spent over $20 million on it's Mongolian exploration programs to date.

QGX currently holds exploration licenses covering over 40,000 sq. km. throughout Mongolia that are prospective for a wide variety of mineral targets. The Company's primary objective is the discovery of one or more world-class gold deposits with attractive economics. QGX is currently conducting exploration on multiple properties throughout Mongolia and has joint venture agreements in place on two advanced prospects that are being explored by Ivanhoe Mines Ltd.

  1994

July
QGX (or the “Company”) was formed by four mining professionals to pursue mineral exploration opportunities in Mongolia. The Company’s objective is to identify one or more “world-class” gold deposits.

December
QGX is the first foreign company to acquire a mineral exploration license under the new mineral laws adopted by Mongolia as part of the country’s conversion to a democracy after many years of Soviet control. The Harteeg license covers 4,000 sq. km. in the south Gobi desert of Mongolia.

  1995

June
QGX raises $900,000 to fund initial exploration at Harteeg.

September
QGX raises $5,625,000 for further exploration based on encouraging results from initial programs at Harteeg.

February
QGX acquires its second major license in Mongolia. The Shuteen license covers 4,000 sq. km. approximately 100 km west of Harteeg.

August
QGX completes its second major field season in Mongolia, including drill programs on several targets. Best results are obtained at Kharmagtai prospect where one hole returned consistent mineralization over 72 metres grading 3.08 g/t gold and 1.89% copper.

September
QGX raises $3,375,000 to fund continuing exploration in Mongolia.

August
QGX completes its third field season in Mongolia. Limited program fails to produce any significant new results. As a result of the downturn in gold markets following the Bre-X scandal, Company begins the process of reducing acreage held under license and places all properties on a care and maintenance basis.

March
QGX enters into joint venture agreements with Ivanhoe Mines Ltd. (“Ivanhoe”) that provide for IVN and QGX to jointly explore and develop the Kharmagtai, Ovoot Hyar (Turquoise Ridges) and Shuteen properties in Mongolia. IVN will be the operator for all programs and will be responsible for all future expenditures on these properties through to production with QGX retaining a 20% carried interest in Shuteen and Ovoot Hyar and a 10% carried interest in Kharmagtai. See the Ivanhoe Joint Venture section of our website for a description of these properties and recent exploration results.

April
QGX enters into a letter of intent with Emerging Ventures Corp. (“EVS”) whereby QGX will effect a reverse takeover of EVS through a merger of QGX and EVS. Each QGX share and special warrant is to be exchanged for one share of the combined company and each EVS share is to be exchanged for 0.4 shares. QGX shareholders will own approximately 96% of the combined company, which is to be called QGX Ltd.

June
QGX completes a $3,000,000 financing as a condition to closing the merger with EVS.

August
The merger with EVS is completed and QGX Ltd. begins trading on the TSX Venture Exchange on August 13, 2002 under the trading symbol QGX.

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