Acorn Capital To Accept Conquest Mining Limited (ASX:CQT) Takeover Offer For North Queensland Metals (ASX:NQM)

Conquest Mining Limited (ASX:CQT) announces that it has received notice from Acorn Capital Limited ("Acorn") that Acorn has advised its custodians to accept Conquest's takeover offer for North Queensland Metals Limited ("NQM") for Acorn's entire shareholding in NQM totalling 22,123,821 shares (or 11.04% of all the NQM shares).

As disclosed in the Form 604 filed earlier this morning, Conquest currently has a relevant interest in 32.76% of all the NQM shares. This includes acceptances for 9.03% attributable to Acorn - acceptances from Acorn's custodians for the remaining 2.01% of Acorn's shareholding have yet to be received. Acorn's full acceptance, when aggregated with all acceptances received to date, will result in Conquest having a relevant interest in 34.77% of all the NQM shares on issue.

Conquest's takeover offer for NQM shares is currently scheduled to close at 7.00pm (Sydney time) on 1 October 2010.

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