Silver Quest Resources Ltd.
TSX VENTURE : SQI

Silver Quest Resources Ltd.

March 30, 2010 08:00 ET

Silver Quest Approves $2.2 Million for Capoose Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2010) - Silver Quest Resources (TSX VENTURE:SQI) ("Silver Quest" or "the Company") is pleased to announce that its Board of Directors has approved a $2.2 million budget for the Capoose Project ("Capoose") located on the Nechako Plateau, 185 km southwest of Prince George. See the Silver Quest website at www.siliverquest.ca for property location and project detail information. The Capoose project is a joint venture with Bearclaw Capital Corp. (40%) with Silver Quest (60%) acting as Operator.

Silver Quest is planning extensive diamond drilling at Capoose to enhance and further define the NI 43-101 inferred resource of 1.32 million ounces of gold equivalent or 53 million tonnes at a grade of 0.77 g/t gold equivalent. This season's program will include over 10,000 metres of resource definition drilling, consisting of approximately 35 drill holes with depths ranging between 250 and 300 metres. Drilling will be completed in a grid pattern across the south end of the deposit, to infill the central portion of the deposit area and test for extensions of the deposit to the south. Silver Quest also plans on drill testing several geophysical and geochemical targets in other areas on the property.

Silver Quest's President and CEO, Randy Turner states, "This is an exciting and busy year for the Capoose Project with significant growth potential. We are looking forward to increasing the resource and to testing several of the targets defined over the past couple of years."

David Pawliuk, P. Geo. is the qualified person, as defined by National Instrument 43-101, for the Capoose project and supervised the preparation of the technical information in this release.

Additionally, the Company wishes to announce the donation of 100,000 shares to the Britannia Mining Museum in British Columbia.

SILVER QUEST RESOURCES LTD.

Randy Turner, President

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the British Columbia Securities Act. This includes statements concerning the Company's plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the ability of the Company to continue to be able to access the capital markets for the funding necessary to acquire and maintain exploration properties and to carry out its desired exploration programs; inability to fund the Company's share of costs incurred under joint venture agreements to which it is a party, and reduction or elimination of its joint venture interest as a result; competition within the minerals industry to acquire properties of merit, and competition from other companies possessing greater technical and financial resources; difficulties in executing exploration programs on the Company's proposed schedules and within its cost estimates, whether due to weather conditions in the areas where it operates, increasingly stringent environmental regulations and other permitting restrictions, or other factors related to exploring in the north, such as the availability of essential supplies and services; factors beyond the capacity of the Company to anticipate and control, such as the marketability of minerals, government regulations relating to health, safety and the environment, the scale and scope of royalties and taxes on production; unusually mild winter conditions affecting or delaying the opening of the winter roads and resulting difficulties in transporting materials needed to support various exploration projects and resulting increased costs of transport by air; the availability of experienced contractors and professional staff to perform work in a competitive environment and the resulting adverse impact on costs and performance and other risks and uncertainties, including those described in each management discussion and analysis. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

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

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