Conquest Resources Limited

Conquest Resources Limited

February 28, 2005 11:13 ET

Conquest Resources Limited: Incentive Share Options Granted


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CONQUEST RESOURCES LIMITED

TSX VENTURE SYMBOL: CQR

FEBRUARY 28, 2005 - 11:13 ET

Conquest Resources Limited: Incentive Share Options
Granted

TORONTO, ONTARIO--(CCNMatthews - Feb. 28, 2005) - Conquest Resources
Limited (TSX VENTURE:CQR) announces that a total of 1,600,000 incentive
share options have been granted to directors and a consultant pursuant
to its Share Option Plan, subject to regulatory approval. The share
options will be valid for a period of five years at an exercise price of
$0.10 per share.

The grant to directors replaces 1,430,000 incentive share options
previously issued of which 1,200,000 expired unexercised on February 10,
2005.

ABOUT CONQUEST

Conquest is exploring several gold projects in Ontario. These include
the Alexander gold project at Red Lake, the King Bay gold project at
Sturgeon Lake, the Smith Lake gold project at Missanabie, and the
Aurora, Sunday Lake and Nash Creek gold projects at Detour Lake.

At King Bay, Conquest is conducting an initial winter drill programme
and at Aurora, located immediately south of the former Detour Gold Mine,
joint venture partner Tradewinds Ventures Inc. (TSXV:TWD) is conducting
a winter diamond drill programme comprising an initial 2,000 metres in 8
planned drill holes.

Cash and short-term investments at December 31, 2004 amounted to
approximately $1.6 million. There are currently 59,971,677 shares of
Conquest issued and outstanding.

WARNING: The Company relies upon litigation protection for
"forward-looking" statements.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Conquest Resources Limited
    Terence N. McKillen
    President & CEO
    (416) 362-8243
    or
    Conquest Resources Limited
    D. Brett Whitelaw
    Vice-President
    (604) 699-2320
    or
    Conquest Resources Limited
    John F. Kearney
    Chairman
    (416) 362-6686
    info@conquestresources.net
    www.conquestresources.net
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.