Great Quest Metals Ltd.

Great Quest Metals Ltd.

April 02, 2012 09:30 ET

Great Quest Appoints Mr. Joel Jeangrand as President and Chief Executive Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 2, 2012) - The Board of Directors of Great Quest Metals Ltd. (TSX VENTURE:GQ)(FRANKFURT:GQM) ("Great Quest" or the "Company") is pleased to announce that it has appointed Mr. Joel Jeangrand as President and Chief Executive Officer, as well as Director of the Company, effective April 2, 2012. Mr. Jeangrand will focus on corporate growth through the development stages of its phosphate and gold assets in Mali, West Africa.

Joel Jeangrand has more than 20 years of global experience in marketing, business and corporate development in the natural resource sector and renewable energy business. Prior to joining Great Quest, he held the role of President and CEO of Pan American Hydro Corporation from 2008 to 2012. Previously, Mr. Jeangrand served as Vice President Corporate Development of Spur Ventures Inc., a publicly traded Vancouver-based fertilizer company with a phosphate project in China. He also spent 11 years in roles of increasing responsibility with the Eramet Group and worked in locations such as Gabon, Paris, Hong Kong and Taipei. He holds an Executive MBA from Simon Fraser University in Vancouver, and earned a Bachelor of Commerce (equivalent) from Ecole Superieure de Commerce de Toulon, France.

Commenting, John A. Clarke, Chairman of Great Quest, said, "It is with great pleasure that we welcome Joel Jeangrand as the new CEO and President. Mr. Jeangrand's expertise in both developing countries and in the phosphate industry is of great value to Great Quest as we make important strides in the development of the Tilemsi Phosphate project in Eastern Mali. His experience in corporate development, and sales and marketing are an asset to the Company that we look forward to engaging in the months ahead." Mr. Clarke also added, "The situation in Mali continues to be a concern (see March 22, 2012, press release) and Great Quest is managing its operations with a view to the safety of its personnel. Scoping study work on the Tilemsi phosphate project continues unabated at MINTEK in South Africa. Great Quest strongly believes in the long-term investment attractiveness of Mali and, with this latest key appointment, we continue to strengthen our management team in order to deliver on our strategy."

Newly appointed CEO and President, Joel Jeangrand, commented, "I am very happy to accept the appointment with Great Quest, and look forward to working with the board and the management team to unlock the great potential of the Tilemsi Phosphate Project for the production of fertilizer for both domestic and international use."

The Board of Directors has approved the grant of share purchase options to Mr. Jeangrand totaling 400,000 options, at an exercise price of $2.10 per share, being the closing price of the shares on the trading day prior to the date of grant, for a term of five years. The options vest over two years, in accordance with the Company's Stock Option Plan, and are subject to TSX Venture Exchange approval.


John A. Clarke, Chairman of the Board

Great Quest Metals Ltd. is a Canadian mineral exploration company with assets in Mali, West Africa. The Company is focused on developing the Tilemsi Phosphate Project, encompassing 1,206 sq km in eastern Mali. The Company also holds several gold concessions in the productive Birimian gold belt in western Mali. Great Quest is listed on TSX Venture Exchange (GQ), and the Frankfurt Stock Exchange (GQM).

The statements that are not historical facts and are forward-looking statements involving known and unknown risks and uncertainties could cause actual results to vary materially from the targeted results.

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