Silver Quest Resources Ltd.

Silver Quest Resources Ltd.

November 25, 2008 13:23 ET

Silver Quest Resources Ltd.: First Drill Results From the Capoose-Silver Trend Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 25, 2008) - Silver Quest Resources Ltd. (the "Company") (TSX VENTURE:SQI) is pleased to report the first assay results from two diamond drill holes from the October diamond drill program on the Capoose-Silver Trend Project located approximately 185 kilometres west-southwest of Prince George, British Columbia. Multiple targets were tested during the recently completed ten hole, 1,441-metre drill program. This drill program is the first significant exploration activity on the property since 1984. Previous exploration by Granges Inc. and Cominco Ltd. (now TeckCominco Ltd.) from 1978 to 1984 outlined three zones of low-grade, disseminated silver-gold mineralization at shallow depths. These zones are amenable to open-pit mining.

Significant results received to date from the first two holes include:

Hole # Zone-Target From To Width Au g/t Ag g/t Cu % Pb % Zn %
D - 89 Zone 1 - 19.0 29.4 10.4 m 0.42 80.4 0.47 0.03 0.22
East Flank
Within a larger zone 19.0 35.4 16.4 m 0.32 57.3 0.34 0.03 0.21

D - 97 Zone 2 - 69.0 127.0 58.0 m 0.18 50.8 0.01 0.31 0.47
North Extension
Within a larger zone 39.0 127.0 88.0 m 0.20 40.3 0.01 0.24 0.36

Hole D - 89 was located on the east flank of Zone 1 and intersected mineralization in weakly altered andesite. Current results correlate with nearby historic drill hole D - 24 which was drilled in 1980 and returned 0.86 g/t gold, 58.0 g/t silver, 0.16 % copper, 0.12 % lead and 0.48% zinc over 23.0 meters, from a depth of 19.3 metres to 42.3 metres.

Hole D - 97 tested the northern extension of Zone 2 and returned a wide interval of mineralization hosted in rhyolite flow and lapilii tuff units. The intersection in Hole D - 97 is located 60 metres north of an intercept in historic hole D - 09 which was drilled in 1979 and returned 0.19 g/t gold, 36.6 g/t silver, (copper not assayed) 0.23% lead and 0.17% zinc over 66.0 metres, from a depth of 45.0 metres to 111.00 metres.

Note that the above intersections are drill hole intercepts, and may not represent true widths.

Historical resources within Zone 1 and Zone 2 on the Capoose property (see Press Release January 17, 2008) are stated to be 28.22 million tonnes averaging 36.0 g/t silver and 0.34 g/t gold (for contained metal of 32.66 million ounces of silver and 308,500 ounces of gold) as reported by Pan American Silver Corp. (1999 annual report dated April 17, 2000, on SEDAR). This historical resource estimate by Pan American Silver Corp. was not compiled within the definitions and standards outlined in National Instrument 43-101 and the Company cautions that these historic resource estimates cannot be relied upon.

Drill core analysis and assaying is conducted by Eco Tech Laboratory in Kamloops, with diamond drilling by Driftwood Drilling of Smithers. David Pawliuk, P. Geo. is the qualified person, as defined by National Instrument 43-101, for the Capoose-Silver Trend project and supervised the preparation of the technical information in this release. Pending assay results from the eight remaining drill holes, and pending results from the concurrent geochemical soil sampling survey on the property will be released when they become available.


Robert F. Weicker, President

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