Quartz Mountain Resources Ltd. reported unaudited consolidated earnings results for the first quarter ended October 31, 2012. For the quarter, the company reported loss before income tax of CAD 2,597,615 against CAD 100,270 for the same period last year. Total loss and comprehensive loss for the period was CAD 2,597,615 or CAD 0.11 per basic and diluted share against CAD 100,270 or CAD 0.01 per basic and diluted share for the same period last year.

Net cash used in operating activities was CAD 2,062,945 against CAD 30,504 for the same period last year. Acquisition of mineral property was CAD 50,000.