Quest Uranium Corporation

Quest Uranium Corporation

January 11, 2008 16:13 ET

Quest Uranium Grants Stock Options

MONTREAL, QUEBEC--(Marketwire - Jan. 11, 2008) - Quest Uranium Corporation (TSX VENTURE:QUC) announces that its Board of Directors today granted stock options in respect of an aggregate of 1,600,000 common shares to seven of Quest's directors and senior officers at an exercise price of $0.30 per share, representing the issue price per share of Quest's recently-completed private placement of "flow-through" shares. At the same time, the Board of Directors granted stock options in respect of an aggregate of 200,000 common shares to two of Quest's technical consultants, also at an exercise price of $0.30 per share. All of the stock options were granted pursuant to Quest's 2007 Stock Option Plan.

Quest Uranium was incorporated in June 2007 for the purpose of taking over the uranium assets and exploration activities previously carried on by Freewest Resources Canada Inc., so that Freewest can devote itself solely to exploration for precious and base metals. Quest Uranium acquired Freewest's portfolio of uranium exploration properties, consisting of: (i) the George River property, in respect of which a technical report has been prepared in conformity with National Instrument 43-101, "Standards of Disclosure for Mineral Projects"; and (ii) five uranium properties in Ontario and one uranium property in New Brunswick. Freewest has retained rights to precious metals and base metals with respect to the George River property and the six other uranium properties. Freewest holds 17.6% of the outstanding shares of Quest Uranium.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Quest Uranium Corporation
    Peter J. Cashin
    Technical Advisor and Director
    (416) 587-3220 or 1-888-878-3551
    (514) 878-4427 (FAX)