Silver Quest Resources Ltd.
TSX VENTURE : SQI

Silver Quest Resources Ltd.

November 08, 2007 09:30 ET

Silver Quest Resources Ltd.: Drill Program Completed on the Santa Rosa Property, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2007) - Silver Quest Resources Ltd. (the "Company") (TSX VENTURE:SQI) reports on exploration activities at the Company's Santa Rosa silver-lead property, located approximately 175 kilometres east of Hermosillo, in the state of Sonora, Mexico.

The previously announced program of reverse-circulation ("RC") drilling at Santa Rosa commenced in early October 2007 and has been completed on budget and on time by Layne de Mexico S.A. de C.V. based in Hermosillo. Initial assay results are expected in the coming weeks and will be announced as they become available. The program focused on drilling multiple targets located along the top of a low, southeast trending ridge 1.2 kilometres in length where previous surface sampling on the flank of the ridge had returned significant values of silver, lead, and copper. In addition, a limited program of prospecting and sampling over the remainder of the property area was completed.

The drill program comprised twenty shallow, angled RC holes, totaling 1,821.2 metres within a four hundred by four hundred metre area. Nineteen holes were collared from four drill pad locations on top of the mineralized ridge; one hole was collared in the valley directly below the ridge. Drilling focused within an area where previous surface sampling of eighteen chip samples (see March 29, 2007 news release) returned a weighted average of 186.1 grams per tonne silver (range from 2.2 grams per tonne to 1760 grams per tonne silver); 2.66% lead (range from 0.02% to 20.10% Pb); an average of 0.43% zinc (range from 0.01% to 6.20% Zn); and an average of 0.225% copper (range from 0.003% to 1.100% Cu). This RC drill program indicates that geology and style of mineralization encountered is consistent with a carbonate replacement deposit ("CRD") type model.

Contingent upon assay results, the Company will evaluate the potential and timing of a follow-up drilling program for the project. The Santa Rosa property represents an early stage exploration project with the potential to host bulk-tonnage silver-lead mineralization. Sampling and initial RC drilling performed in June 2007 by the Company, returned significant silver, lead and copper values from the project (see July 4, 2007 news release) including, a chip sample over 1.5 metres along the mineralized ridge, which returned 1,760 g/t Ag and 1.10% copper (Cu), and a RC drill intersection, which returned 9.1 metres averaging 134.7 g/t Ag and 0.45% Cu. Sulphide mineralization including galena, tetrahedrite and minor pyrite, together with barite, occurs in a carbonate breccia unit within interbedded sedimentary and volcanic (andesite) units.

Sample preparation to date has been completed by ALS Chemex in Hermosillo, Sonora, with analysis completed by ALS Chemex in Vancouver, British Columbia. Mr. Tom Evans, P.Geo (California) supervised this recent program. Mr. Robert Weicker, P.Geo and President of the Company, the qualified person as defined by National Instrument 43-101 for the Santa Rosa project, verified and supervised presentation of the scientific and technical information in this release.

"Silver Quest is an established Canadian junior exploration company with a focus on silver and gold projects, with ten mineral properties in B.C., Ontario, Yukon, Nevada, USA and Sonora, Mexico. For Silver Quest property locations and information, visit the Company's web site at www.silverquest.ca."

SILVER QUEST RESOURCES LTD.

Randy C. Turner, Director

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

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