Quest Uranium Corporation

Quest Uranium Corporation

June 26, 2009 08:30 ET

Quest Announces New $600,000 Flow-Through Private Placement

TORONTO, ONTARIO--(Marketwire - June 26, 2009) - Quest Uranium Corporation (TSX VENTURE:QUC) announces that it intends to effect a private placement of "flow-through" common shares to "accredited investors" in Quebec and Ontario, in a maximum amount of $600,000, by issuing a maximum of 1,714,285 "flow-through" common shares at a price of $0.35 per share.

The proceeds from the private placement will be used for exploration and development of Quest properties in Quebec.

There are currently 28,301,739 common shares of Quest issued and outstanding. The shares to be issued in the private placement will be subject to a four-month "hold period" under applicable securities legislation.

About Quest Uranium

Quest Uranium Corporation is a Canadian-based, exploration company focused on the identification and discovery of new world-class uranium and REE deposit opportunities. The company is publicly-listed on the TSX Venture Exchange as "QUC" and is led by a highly-respected management and technical team with a proven mine-finding track record. Quest is currently advancing several high-potential projects in Canada's premier exploration areas: the George River Belt of northeastern Quebec, the Kenora area of northwestern Ontario and the Plaster Rock area of northwestern New Brunswick. Quest also has a clear route to 50% ownership of a large uranium property in the James Bay area, Quebec under option from Midland Exploration Inc. Quest continues to identify new, high-potential project opportunities throughout North America.

This press release may contain "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward looking statements".

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

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