Quest Uranium Corporation
TSX VENTURE : QUC

Quest Uranium Corporation

November 12, 2009 08:00 ET

Quest B-Zone Drilling Returns 1.22% Over 55.0 M and 1.27% Over 20.1 M Total Rare Earths, Continues to Expand Resource, Strange Lake Project, Quebec

Highlights: - B-Zone drilling continues to expand the resource potential of the property and confirms the intimate association of the best mineralization with anomalous airborne geophysics - Multiple, high-grade intersections of between 1.05% and 2.52% REE+Y over widths of 6.0 and 66.0 m characterize all holes drilled into the zone, within a larger, 92.0-135.2 m-thick, mineralized envelope grading between 0.9%-1.03% REE+Y - These new drillholes confirm the resource expansion potential of the B-Zone in all directions, particularly at depth and down-plunge to the northeast

TORONTO, ONTARIO--(Marketwire - Nov. 12, 2009) - Quest Uranium Corporation (TSX VENTURE:QUC) is pleased to report that additional assay results from diamond drilling of their B-Zone rare earth element (REE) deposit (see Press Release : September 23 and October 15, 2009, Figure1) continues to expand the significant resource potential of the zone. Quest's new drilling has now returned strong REE drill assay grades over a minimum strike of 1.1 km. The widths of the mineralized envelope have increased to at least 500 m and the mineralized envelope is at least 135.2 m in vertical thickness (up from 123.0 m). Lab results for holes BZ-09-009 to 014 returned multiple, high rare earth elements+yttrium (REE+Y) grade intersections of between 1.05 % and 2.52% over vertical thicknesses of 6.0 m to 66.0 m. Heavy REE (HREE) represents between 35.3% and 65.1% of the Total REE oxide (TREO) content intersected in the new drilling. Strong values of zirconium (Zr), niobium (Nb), hafnium (Hf) and beryllium (Be) continue to characterize the REE intercepts and have the potential to contribute important resource value to the mineralized zone. Mineralization continues to be open to resource expansion at depth and along strike towards the northeast. As reported for previous drill holes, the 6 drillholes reported today all were stopped in mineralization.

"New B-Zone drilling results continue to support management's view that Quest is drilling off a very large rare earth resource potentially amenable to open-pit mining," said Peter Cashin, Quest's President & CEO. "The intimate association of the B-zone mineralization with a strong 2.2 km-long airborne radiometric anomaly is an excellent indicator of the significant surface expression of the zone. We feel that there are strong indications for at least a doubling of the mineralization found to date. In addition, drill results continue to confirm an important northeast-plunge to the highest grades and thickest sections returned thus far and remains completely open in that direction."

B-Zone Definition Drill Program

Drill results have confirmed strong REE mineralization over 1.1 km of strike, over widths of at least 500 m and over vertical thicknesses of up to 135.2 m (see Figure 2). Hole spacing of between 100 m and 200 m was used in the definition drill program. Drilling has confirmed the mineralization to be relatively flat-dipping and is exposed at the outcrop surface (see Figure 3). Holes herein reported continue to intersect strongly mineralized pegmatites and intensely altered and mineralized granite. The surface footprint of the B-Zone mineralization is expressed as a two km-long, northeast-trending airborne radiometric anomaly northwest of the Strange Lake Main Deposit (historical resource estimate, pre-National Instrument 43-101; Venkatswaran, 1983 - 52 million tonnes @ 3.25% ZrO2, 0.56% Nb2O5, 0.66% Y2O3, 0.12% BeO and 1.30% TREO). The radiometric anomaly abuts to the northwest against Brisson Lake and may extend further under the lake. Historical IOC drilling indicates that mineralization continues further towards the northeast, past the limits of Quest drilling.

The best results returned from six additional vertical drillholes, totaling 747.2 m, are:



Borehole # From (m) To (m) Length (m) TREO + Y(%) HREE(%)
---------------------------------------------------------------------------

BZ-09-009 3.0 51.0 48.0 1.05 46.2
---------
including 3.0 10.45 7.45 1.15 47.1
and including 17.68 22.0 4.32 1.45 45.1
and including 40.85 51.0 10.15 1.31 51.9
65.0 69.0 4.0 1.97 55.2
82.0 89.0 7.0 1.30 38.7
113.0 118.0 5.0 1.50 42.5

BZ-09-010 62.9 83.0 20.1 1.27 45.5
---------
including 62.9 76.0 13.1 1.39 46.9

BZ-09-011 2.0 68.0 66.0 1.16 40.8
---------
including 2.0 57.0 55.0 1.22 42.6
and including 2.0 39.0 37.0 1.36 46.2
and including 4.0 10.0 6.0 2.52 65.1
and including 31.0 39.0 8.0 1.78 45.0

BZ-09-012 65.9 102.5 36.6 1.21 41.1
---------
including 65.9 77.0 11.1 1.68 47.5
and including 93.59 102.5 8.91 1.29 49.2

BZ-09-013 13.49 19.0 3.51 1.10 39.4
---------
37.0 45.0 8.0 1.47 48.3
99.0 102.0 3.0 1.61 47.1
125.0 132.0 7.0 1.41 47.1
including 125.0 127.65 2.65 1.79 49.5
and including 129.64 132.0 2.36 1.66 47.2

BZ-09-014 47.95 48.24 1.05 1.32 49.0
---------
51.83 55.43 3.6 1.02 38.1
105.0 111.0 6.0 1.02 30.8
including 105.0 105.83 0.83 1.92 25.9


Where: Be equals beryllium, Zr equals zirconium, Y equals yttrium, Nb equals niobium, La equals lanthanum, Ce equals cerium, Nd equals neodymium, Sm equals samarium, Pr equals praseodymium, Eu equals europium, Gd equals gadolinium, Tb equals terbium, Dy equals dysprosium, Lu equals lutetium, Tm equals thulium, LREE equals light rare earth elements, HREE equals heavy rare earth elements, TREE equals Total Rare Earth metals, TREO equals Total Rare Earth Oxides.

The better grades of mineralization appear to be related to the pegmatitic phases of the host granite (see Figure 4). The highly-altered granite hosting the pegmatites continues to carry elevated grades of REE over the entire length of the drilling. Strong bulk-grade intersections were returned from drillholes BZ-09-011 (1.05% REE+Y over 110.0 m) and BZ-09-013 (0.91% REE+Y over 135.2 m). In addition to REE, the mineralized zone has elevated concentrations of zirconium, niobium, beryllium, and hafnium which could add to the resource value of mineralization on the property. As an example, the section on Hole BZ-09-011 from 2.0 m to 39.0 m down the hole (37.0 m core length) grades 0.30 % niobium oxide (Nb2O5).

Preliminary mineralogical work on the B-Zone mineralization by Hazen Research, Inc. of Golden, Colorado has commenced. The B-Zone rocks are characterized as highly hematite and specularite-altered and fluorite-mineralized Strange Lake alkali granite. The principal rare earth minerals observed in the core are Zircon (Zr, Hf, silicate), Gittinsite (Zr, HREE silicate), Kainosite (Y, LREE, silicate), Pyrochlore (Nb, Ta, hydroxide), Gadolinite (Y, HREE silicate) and Allanite (LREE silicate). The B-Zone appears to be mineralogically similar to the Main IOC deposit to the southwest and may exhibit similar metallurgical characteristics to the IOC REE zone. The remainder of the bulk sample collected from the zone will be used for pilot metallurgical testing during the winter period.

43-101 Preliminary Resource Estimate

An inferred resource estimate for the B- and Main zones will be calculated once all of Quest's diamond drilling and core analysis work is completed and all exploration data from the 2009 program is compiled. The data will be handed over to Wardrop Engineering Inc., of Toronto, Ontario, in December for commencement of the work. It is anticipated that this resource estimate will be completed sometimes in the Q2 2010.

Quality Control

Mr. Peter Cashin, P. Geo., is the qualified person on the Strange Lake Project under National Instrument 43-101 and was responsible for this news release. Material for analysis has been obtained from drill core which was cut in half using a diamond saw. Half of the core was sent to the lab for analysis, with the remaining half left on-site for future reference. A strict QA/QC program is followed which includes the use of elemental standards, duplicates and blanks. Analyses were performed by Activation Laboratory Limited of Ancaster, Ontario.

The 1983 historical mineral resource estimate referred to in this press release was prepared before the introduction of National Instrument 43-101. No qualified person has undertaken sufficient work to classify this historical resource estimate as current mineral resources or mineral reserves. Accordingly, Quest is not treating the historical resource estimate as current mineral resources or mineral reserves, as defined in National Instrument 43-101, and the historical resource estimate referred to in this press release should not be relied upon.

About Quest Uranium

Quest Uranium Corporation is a Canadian-based, exploration company focused on the identification and discovery of new world-class Rare Earth deposit opportunities. The Company is publicly-listed on the TSX Venture Exchange as "QUC" and is led by a highly-respected management and technical team with a proven mine-finding track record. Quest is currently advancing several high-potential projects in Canada's premier exploration areas: the Strange Lake area of northeastern Quebec, the Kenora area of northwestern Ontario and the Plaster Rock area of northwestern New Brunswick. Quest continues to pursue high-value project opportunities throughout North America.

This press release may contain "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward looking statements".

To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/Quest1.pdf

To view Figure 2, please visit the following link:
http://media3.marketwire.com/docs/Quest2.pdf

To view Figure 3, please visit the following link:
http://media3.marketwire.com/docs/Quest3.pdf

To view Figure 4, please visit the following link:
http://media3.marketwire.com/docs/Quest4.pdf

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

Contact Information