Quadra Mining Improves Robinson Mine Plan, Lowers Costs and Increases Production Guidance

Quadra Mining Ltd. (TSX:QUA) ("Quadra" or "the Company") is pleased to announce a revised mine plan and increased 2009 copper production guidance for its 100% owned Robinson Mine ("Robinson") in Ely, Nevada. The Company's guidance for its Carlota mine remains unchanged.

The Company has continued to evaluate alternate mine plans for Robinson that will allow for continuity of operations through the current global economic downturn and beyond. As a result, management has developed, and is proceeding with a new mine plan that is expected to result in significant cost savings and increased copper production in 2009 and 2010.

The new plan requires a copper price in the range of $1.50/lb to cover operating and capital costs, maintain an appropriate minimum cash balance and facilitate continuous production at Robinson going forward.

The new plan alters the sequencing with mining now transitioning from the existing Veteran pit to a small satellite pit ("Kimbley Wedge") in 2010 and then to Ruth at the end of 2010. The Ruth pit will be mined in two stages, in a way that defers dewatering as well as delivering the blending balance required for optimum metallurgical results. This plan was developed based on additional information acquired from recent hydrological drilling and piezometer testing which now suggests lower dewatering requirements at Ruth. The completion of the drilling and metallurgical program that commenced in 2007 supports the new plan, providing the appropriate ore sequencing for a blending strategy.

The previously announced Veteran extension (see Press Release: December 1st, 2008), which adds two years of additional reserves, will now be deferred until after the ultimate Ruth pit has been completed. This deferral significantly reduces stripping requirements in each of 2009 through 2011 together with the associated operating costs. Capital expenditures are also expected to be lower in 2009 due to lower dewatering requirements and reduced equipment purchase commitments. The following table shows the revised guidance for Robinson, and compares this to the previous guidance. Cost assumptions are based on the current environment for input costs. The previously stated production guidance for Carlota remains unchanged at 50 million lbs of cathode for 2009.

The Company cautions that there is currently very broad volatility in all aspects of its business and, accordingly, actual results may vary substantially from all guidance and forward-looking information in this press release. See the discussion of assumptions and risks underlying this forward looking information at the end of this release.

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                                                                      2009
                                                 2009       Prior Forecast
Robinson Mine:                           New Forecast   (December 1st 2008)
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Copper production                    140 million lbs.     130 million lbs.
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Gold production                        100,000 ounces       125,000 ounces
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Onsite Costs ($ millions) (2), (3)              $ 195                $ 220
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Offsite Costs ($ millions) (3)                  $  65                $  60
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Total onsite and offsite
 costs ($ millions)                             $ 260                $ 280
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Cash cost per pound of copper
 produced (C1) (1), (3)                         $1.30                $1.40
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Capital expenditures and
 bonding ($ millions)                           $  30                $  40
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(1) Cash cost per pound of copper produced in 2009 assumes gold by-product
    revenue at $800/oz.
(2) Onsite costs in 2009 assume a diesel price of $2.32/gallon.
(3) Non-GAAP financial measures (see section below).

The new plan is also expected to increase production of copper in 2010 to 140 - 150 million pounds and gold production to 100-110 thousand ounces. Capital expenditures in 2010 are forecasted to decrease to approximately $30 million.

An updated Technical Report on Robinson containing the details on the revised reserves will be filed on SEDAR shortly.

Quadra's President & CEO, Paul Blythe says, "As indicated in early December, we believe that the mid to long term fundamental drivers of the copper market remain in place but short term volatility demands that every viable option be evaluated. We have continued to search for a plan that will allow Robinson to continue operating through this economic downturn and participate in future copper markets. This new schedule is not only expected to keep us operating at current copper prices, but will also increase our annual copper production for this and the next two years."

"Planning at any time is based on the information at hand, and recent information has allowed us to pursue an option we had previously considered but were unable to support until we were confident that it could be executed. We are pleased that the Robinson team has come up with a solution that is expected to achieve our core objective of optimizing continuous production in the present metal price environment."

Paul Blythe concludes, "We will of course continue to review market conditions for copper and gold, as well as any positive impact of input costs which are under downward pressure. For now, we are confident that we will be able to continue to operate at both Robinson and Carlota in the current market conditions while maintaining our cash balance objectives and pursuing our corporate growth strategy."

Conference Call

Paul Blythe, Quadra's President and CEO will host a conference call to discuss this revised mine plan. The details are as follows:

Date: Thursday, January 29th, 2009 Time: 11.00 am (Eastern Time) Webcast: www.quadramining.com Dial in: 416-695-9757 or 866-542-4270 Replay: 416-695-5800 or 800-408-3053 Replay Passcode: 3281895

The conference call replay will be available until midnight (Eastern Time) on February 5th, 2009. An archived audio webcast of the call also will be available on Quadra's website.

Non-GAAP Financial Measures

The cash cost per pound of copper produced, and onsite costs and offsite costs are non-GAAP financial measures that do not have a standardized meaning under Canadian Generally Accepted Accounting Principles ("GAAP"), and as a result may not be comparable to similar measures presented by other companies. Management uses these statistics to monitor operating costs and profitability. Onsite costs include mining costs, equipment operating lease costs, mill costs, mine site general and administration costs, environmental costs and royalties. Offsite costs include the costs of transportation, smelting and refining of concentrate. The cash cost per pound of copper produced is the total of onsite and offsite costs less by-product revenues, divided by pounds of copper produced.

About Quadra Mining Ltd. (TSX:QUA)

Quadra is a mining company that owns and operates the Robinson copper mine ("Robinson Mine") near Ely, Nevada. In addition, Quadra holds a 100% interest in the Carlota copper mine ("Carlota"), a heap leach - SX/EW copper operation in Arizona. The Company also has a 100% interest in the Sierra Gorda project ("Sierra Gorda"), a late stage exploration property in northern Chile, and a 99% interest in the Malmbjerg molybdenum project ("Malmbjerg") in Greenland. The strategic plan of the Company includes growth by optimising operations, developing projects, and pursuing merger and acquisition opportunities.

This Press Release contains "forward-looking information" that is based on Quadra's expectations, estimates and projections as of the dates as of which those statements were made. This forward-looking information includes, among other things, statements with respect to Quadra's business strategy, plans, outlook, long-term growth in cash flow, earnings per share and shareholder value, projections, targets and expectations as to reserves, resources, results of exploration (including targets) and related expenses, property acquisitions, mine development, mine operations, mine production costs, drilling activity, sampling and other data, estimating grade levels, future recovery levels, future production levels, capital costs, costs savings, cash and total costs of production of copper, gold and other minerals, expenditures for environmental matters, projected life of Quadra's mines, reclamation and other post closure obligations and estimated future expenditures for those matters, completion dates for the various development stages of mines, availability of water for milling and mining, future copper, gold, molybdenum and other mineral prices (including the long-term estimated prices used in calculating Quadra's mineral reserves), currency exchange rates, debt reductions, timing of expected sales and final pricing of concentrate sales, the percentage of anticipated production covered by option contracts or agreements, anticipated outcome of litigation and personnel issues. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should", "scheduled", "will", "plan" and similar expressions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Quadra's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to:

- Uncertainties related to the accuracy of reserve and resource estimates and estimates of future production and future cash and total costs of production and the geotechnical or hydrogeological nature of ore deposits, diminishing quantities or grades of reserves and variable metallurgical performance of these reserves.

- Uncertainties related to expected production rates, timing of production and the cash and total costs of production and milling.

- Uncertainties relating to copper, gold, molybdenum and other mineral prices, which are beyond the Company's control.

- Provisional payments on concentrate material that the Company sells; uncertainty in the final metal prices used for the computation of final settlement exists such that final settlement could be less than the cost of production plus other liquidity requirements.

- Operating and technical difficulties in connection with mining development or production activities.

- Uncertainties and costs related to Quadra's exploration and development activities, such as those associated with determining whether copper, gold, molybdenum or other mineral reserves exist on a property.

- Uncertainties related to feasibility studies and other studies that provide, among other matters, estimates of expected or anticipated costs, expenditures and economic returns from a mining project.

- Uncertainties related to the completion, start-up and ongoing production at Carlota, including costs associated with the construction of the Pinto Creek Diversion.

- Uncertainties related to capital cost estimates for mine construction activities.

- Uncertainties relating to the availability of adequate water resources for mining and milling operations and uncertainties related to whether the Company will be able to pump water in the expected quantities from the properties on which it holds water rights.

- Uncertainties related to the ability to obtain and retain or renew necessary licences, permits, and other government authorizations, including the necessary permits to complete the dewatering of the Ruth pit, at operating and development projects.

- Uncertainties related to the ability to obtain necessary electricity, surface rights, water rights and title for operating and development projects and project delays due to third party opposition.

- Uncertainties in obtaining additional financing that may result in delay or postponement of development projects.

- Uncertainties related to the future development or implementation of new technologies, research and development and, in each case, related initiatives and the effect of those on our operating performance.

- Uncertainties related to judicial or regulatory proceedings, including whether the permits required for development and operating activities will be obtained and whether existing permits will be challenged.

- Changes in, and the effects of, the laws, regulations and government policies affecting Quadra's mining operations, particularly laws, regulations and policies relating to:

-- mine expansions, environmental protection and associated compliance costs arising from exploration, mine development, mine operations, reclamation and mine closures;

-- expected effective future tax rates or royalties in jurisdictions in which Quadra's operations are located;

-- the protection of the health and safety of mine workers; and

-- mineral rights ownership in countries where Quadra's mineral deposits are located.

- Changes in general economic conditions, the financial markets and in the demand and market price for copper, gold, molybdenum and other minerals, diesel fuel, petroleum, steel, concrete, sulphuric acid, explosives, truck tires and other operating supplies, refining and treatment costs, transportation charges, electricity and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar and Canadian dollar.

- The effects of derivative instruments to protect against fluctuations in copper, gold and other metal prices, exchange rate movements, fuel price changes, and the associated mark to market risks.

- Uncertainties related to the collectibility of amounts owed to the Company by contract counter-parties including, but not limited to, sales contracts and derivative contracts.

- Unusual or unexpected formations, seismic activity, cave-ins, flooding, pressures, pit wall failures and other similar incidents (and the risk of inadequate insurance or inability to obtain insurance to cover these risks).

- Changes in accounting policies and methods used to report Quadra's financial condition

- Uncertainties associated with critical accounting assumptions and estimates.

- Environmental issues and liabilities associated with mining including processing and stock piling ore.

- Geopolitical uncertainty and political and economic instability in countries in which Quadra operates.

- Labour strikes, work stoppages, or other interruptions to, or difficulties in, the employment of labour in markets in which Quadra operates mines, or extreme weather conditions, environmental hazards, industrial accidents or other events or occurrences, including third party interference that interrupt the production of minerals in Quadra's mines or interrupt the delivery of Quadra's product to customers.

- Uncertainties relating to development projects, including whether the Sierra Gorda project and the Malmbjerg molybdenum project can be brought into production.

- Quadra's reliance on a single producing property and on a start-up property.

- Uncertainties related to potential future breaches of covenants and undertakings contained in agreements, by Quadra or its suppliers, that could result in a significant loss to Quadra

A discussion of these and other factors that may affect Quadra's actual results, performance, achievements or financial position is contained in the filings by Quadra with the Canadian provincial securities regulatory authorities, including Quadra's Annual Information Form. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Quadra disclaims any intent or obligations to update or revise publicly any forward-looking statements whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law.

SOURCE: Quadra Mining Ltd.

Quadra Mining Ltd. Sophie Taylor Manager, Investor Relations (604) 689-8550 Quadra Mining Ltd. Paul Blythe President (705) 444-1316 Website: www.quadramining.com