Great Quest Metals Ltd.

Great Quest Metals Ltd.

December 16, 2010 18:57 ET

Great Quest Appoints New Director; Grant of Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2010) - Victor J.E. Jones, Chairman of Great Quest Metals Ltd. (TSX VENTURE:GQ)(FRANKFURT:GQM), is very pleased to announce that David Shaw has agreed to join the Company's Board of Directors. Since completing his doctorate 30 years ago, Mr. Shaw has worked both in the technical and financial communities within the resource industry. Seven years were spent with Chevron Resources in Calgary and Vancouver, employed initially as an in-house structural consultant on both metal and hydrocarbon exploration programs and then as a member of a hydrocarbon project financial evaluation team. Upon leaving Chevron, he initiated and developed the Resource Research Group at Charlton Securities Ltd., Calgary before assuming the position of Senior Mining Analyst, Corporate Finance, at Yorkton Securities Inc. in Vancouver. Throughout Mr. Shaw's career, he has built strong relationships with European financial institutions and the global mining community with valuable experience in West Africa, including work in the Birimian gold belt of western Mali where the Company holds gold concessions.

The Board has accepted the resignation of Robert Veitch, Director and Member of the Audit Committee, and wishes to thank Mr. Veitch for his service on the Board. Mr. Veitch remains a consultant to the Company on business development. The Company also announces that Mr. David Shaw and Mr. Keon Kwan, Accountant to the Company, have been appointed to the Audit Committee.

The Board has approved the granting of stock options, to a Director and a Consultant of the Company, for the purchase of up to 375,000 common shares of its capital stock for a period of five years at a price of $1.99 per share in accordance with the Company's Stock Option Plan and subject to regulatory approval.


Victor J.E. Jones, Chairman

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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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