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Onsino and Quia Provide Update on Quia-Samples Return Up to 106.5 g/t Au

16 Aug, 2010 @ 10:59 am EDT
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Onsino Capital Corporation (OS.H), Consulting, Finance, Finance

TORONTO, ONTARIO -- (Marketwire) -- 08/16/10 -- Onsino Capital Corporation (TSX VENTURE: OS.H) ("Onsino" or the "Company"), a capital pool company, and Quia Resources Inc. ("Quia"), a private Ontario based junior gold exploration company, are pleased to provide an update on the exploration activities of Quia and their proposed business combination, which will be Onsino's qualifying transaction (the "QT") pursuant to the policies of the TSX Venture Exchange (the "Exchange"). Details of the proposed Qualifying Transaction are available in the Company's press release dated March 25, 2010 on SEDAR at www.sedar.com.

Updated NI 43 - 101 Technical Report and Exploration Activities

A site visit was made to Quia's San Lucas property (the "San Lucas Property") by an independent geologist from Caracle Creek International Consulting, in order to update the NI 43-101 technical report (the "CCIC's 2010 Technical Report") on the San Lucas Property. During his visit, the geologist resampled an exposed vein in the Mina Neuva artisanal working. Sampling results confirmed earlier results of high grade gold mineralization. Four channel samples and one grab sample were collected. The analytical results of the five samples are summarized in the following table: 


------------------------------------------------------------------------
Sample      Width      Au      Ag       Cu     Pb      Zn     As      Bi
number        cm.     g/t     g/t      ppm    ppm     ppm    ppm     ppm
------------------------------------------------------------------------
SL-001      (i)28    49.6    36.2      599    119     439    291      53
SL-002      (i)34    49.9     102    4,320    649   3,070    208     114
SL-003       grab    57.4      86      584    556     105    362     116
SL-004      (i)28   106.5     224    9,850    344      93    165   2,870
SL-005      (i)58    2.27       4      759     21     326      9      35
------------------------------------------------------------------------

------------------------------------------------------------------------
(i) channel sample estimated true width (measured distance perpendicular to
vein strike)

Quia's properties straddle the Palestina fault, a major structural feature that defines the west contact of the Segovia batholith. Numerous artisanal workings are focused on the Palestina fault and on splays of that fault into the batholith. Earlier heliborne geophysical work demonstrated a high correlation between known workings and structural features, and also revealed potential for porphyry type targets.

Quia's exploration strategy at the San Lucas Property is to completely survey the surface of the property through stream sediment sampling, soil sampling, and geological mapping, in addition to sampling and mapping of known artisanal workings. The purpose of this initiative is to validate and further refine Quia's existing targets derived from artisanal workings, the previous geophysical survey and structural interpretation, as well to locate and prioritize new drilling targets for Quia's initial drill program. In particular, targets include potential extensions of the high grade veins exposed in artisanal workings, as well as the potential for widening of veins in dilational jogs, sheeted vein systems, and breccia systems. Potential porphyry targets will also be examined.

Entering the San Lucas Property to initiate work has required coordination with the local communities and government authorities. Developing a relationship with the local communities has been an ongoing process for the past months and is a priority for Quia. Government authorities and state armed forces have presence and are available to provide security support in the area . This first phase of ground work was commenced the week of August 9, 2010.

Federation Joint Venture

The new management team of Quia has determined that it was in the best interests of Quia to focus exploration activities on its 100% owned San Lucas Property. In light of this, management of Quia in Colombia is negotiating with the Federation (Fedeagromisbol) to reach a mutually agreeable termination or restructuring of the joint venture agreement.

Completed Financing and QT

Quia completed a private placement financing for approximately $3.7 million including participation from a number of significant institutional investors in April, 2010 in anticipation of its going public transaction through the QT with Onsino. The Company and Quia are working as diligently as possible to complete the QT, which they expect to close in the fall, and Quia believes it has sufficient funding to complete the QT without any further financing and to conduct its exploration program. Quia and the Company are making submission in this respect to the Exchange.

Chris Davie, the CEO of Quia, stated: "Quia, having made a transition to a new management team, is making progress in all areas of its activities - toward both a public listing through the QT with Onsino and in the field in Colombia through establishing positive relationships with the communities in the San Lucas area and preparations for field work in the next few weeks. We are looking forward to carrying out the first systematic exploration work in the San Lucas area and view the San Lucas gold belt as having immense potential and being one of the most prospective gold belts in Colombia."

A filing statement in respect of the proposed QT will be prepared and filed in accordance with Policy 2.4 of the Exchange on SEDAR at www.sedar.com no less than seven business days prior to the closing of the proposed QT. A press release will be issued once the filing statement has been filed as required pursuant to Exchange policies.

About Quia Resources Inc.

Quia is focused on exploring for gold in the San Lucas Orogenic Gold belt of Colombia, in particular its flagship San Lucas Property. Quia's strategy is to focus on Colombia and the San Lucas region since it believes the country and region are geologically prospective and vastly underexplored. Combined with a rapidly improving socio-political environment, Colombia represents a unique opportunity in the global mining landscape for the discovery of new gold deposits. Quia's management has extensive experience in the mining industry in Colombia and South America.

About Onsino Capital Corporation

The Company is a NEX listed company and was formerly classified as a Capital Pool Corporation as defined in the TSX Venture Exchange Policy 2.4. The Company's principal business is the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction within the meaning of Exchange policies.

In accordance with the Exchange policies, Onsino's common shares are currently halted from trading, and it is intended that they will remain halted until completion of the QT.

Sample Analysis

The rock samples collected for the CCIC's 2010 Technical Report were sent to ALS Chemex Labs Bogota, Colombia preparation facility and analysis was completed at ALS Chemex Labs in Lima, Peru.

Qualified Person

Iain Kelso, P.Geo., the Vice President - Exploration of Quia, has reviewed and confirmed the scientific and technical information contained within this news release in relation to the San Lucas Property and serves as the Qualified Person as defined in NI 43-101.

Other Information

Completion of the Qualifying Transaction is subject to a number of conditions including, but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the Qualifying Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Qualifying Transaction will be completed as proposed, or at all.

Investors are cautioned that, except as disclosed in the or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The information disclosed in this press release regarding Quia was provided by Quia without review or investigation by Onsino, and as such, Onsino does not accept any responsibility for the accuracy of such disclosure.

Forward-Looking Statements

This press release contains "forward-looking information", as such term is defined in applicable Canadian securities legislation. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information in this press release is made as of the date of this press release, and each of Onsino and Quia disclaim any intention or obligation to update or revise such information, except as required by applicable law.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.



Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Quia Resources Inc.
Chris Davie
Chief Executive Officer
(303) 888-5424
cdavie@fastmail.fm

Quia Resources Inc.
Adam K. Szweras
Director
(416) 564-5926
aszweras@foglers.com

Onsino Capital Corporation
Paul Lin
Chief Executive Officer
(416) 385-7285
plin@rogers.com

For more information, go to www.marketwire.com
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