Quest Uranium Corporation
TSX VENTURE : QUC

Quest Uranium Corporation

November 19, 2009 08:00 ET

Quest Discovers a New Rare Earth Intrusive Complex South of Strange Lake, Quebec

Highlights: - Reconnaissance evaluation of a large, concentric magnetic feature 120 km south of the Strange Lake Project has led to the discovery of a large, rare earth bearing alkali intrusive complex - The ring feature is characterized as a 6-km diameter, compositionally-zoned ultramafic to granitic intrusive body - Grab sampling of the magnetic ring feature returned values of up to 8.56% Total Rare Earth oxides + yttrium oxide, 42.3 % iron oxide, 7.12 % phosphate, 4.85 % titanium oxide, 3.05 % zirconium oxide, and 2.72 % niobium oxide - The geology is analogous to the Lovozero Peralkaline Complex in Russia, the country's primary producing area for rare earths, niobium, tantalum, phosphate and zirconium

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2009) - Quest Uranium Corporation (TSX VENTURE:QUC) is pleased to report that a new rare earth (REE) discovery has been made on its Misery Lake property, approximately 120 km south of the Corporation's Strange Lake REE project area. A total of 73 grab samples were collected at Misery which ranged from trace to 8.56% TREO including yttrium (Y). Values of up to 8.56 % Total Rare Earth oxides (TREO) including Y, 42.3 % iron oxide (Fe2O3), 4.85 % titanium oxide (TiO2), 7.12 % phosphate (P2O5), 2.72 % niobium oxide (Nb2O5) and 3.05 % zirconium oxide (ZrO2) were returned from grab sampling of bedrock and locally-derived boulders. Individual rare earth analyses returned up to 1.38% neodymium oxide (Nd2O3), 1.57% yttrium oxide (Y2O3), 0.41% praseodymium oxide (Pr2O3), 0.144% dysprosium oxide (Dy2O3), 0.15% gadolinium oxide (Gd2O3) and 0.24% ytterbium oxide (Yb2O3). Values in excess of 0.97% TREO represent 40% of the total samples collected on the property. Mineralization is associated with magnetite-rich magmatic segregation layers and zones of iron-enrichment within the peripheral intrusive phase of the Misery Lake intrusive complex. The heavy REE (HREE) content represents 1% to 17.29% of the TREO+Y but recent sampling has identified a new area of REE enrichment returning upwards of 40.2% and 59.0 % HREE. The complex is manifested as a 6-km diameter airborne magnetic anomaly and translates into a target feature that has a potential strike length continuation of approximately 20 km. Identification of additional REE targets to the south and east of the Misery Lake discovery has recently led Quest to stake 1,500 additional mining claims covering an area of approximately 66,000 hectares.

"The discovery of an additional zone of rare earth mineralization underlines Quest's contentions that the Strange Lake (George River) area of Quebec and Labrador will continue to provide important rare earth resource opportunities going forward," said Peter Cashin, Quest's President & CEO. "The best known example of this geologic environment is at the Lovozero Complex in the Kola Peninsula of northern Russia, the country's most important producing area for rare earths, niobium, tantalum, phosphate and zirconium. The Misery Lake Alkali Intrusive Complex discovery now provides Quest with important supplementary REE potential to our significant heavy REE Strange Lake project to the north."

Misery Lake Reconnaissance Exploration Program - 2007 to 2009

The rare earth potential of the Misery Lake area was first recognized by Quest exploration crews August 2007 when reconnaissance bedrock sampling over a concentric magnetic feature (see Figure 2) returned grab sample results of up to 27% Fe2O3, 1.2% P2O5, 1.5% TiO2 and 2.25% TREO including Y. A total of 145 claims were staked to cover the anomalous feature in September 2007. In the spring of 2009 Quest undertook a detailed, 585 line-km airborne radiometric and magnetic survey over the Misery Lake feature. The airborne geophysics was completed by MPX Geophysics of Concord, Ontario. In addition, Quest compiled Government regional lake bottom and stream sediment geochemical data to supplement the geophysical data. Both data files were used as a guide to exploration crews to isolate the anomalous target areas on the property.

The airborne survey defined a concentric, magnetically-zoned ring feature measuring approximately 6 km in diameter. During July and August 2009, exploration crews prospected and sampled the exposed portions of the anomalous magnetic target (see Figure 3) over a strike distance of approximately 20 km. Mapping crews recognized that the Misery Lake Intrusive Complex, herein named, was zoned inwards from ultramafic to progressively more felsic (granitic) intrusive composition rocks. Crews located outcrops and locally-derived boulders of magnetite-REE-fluorite-apatite mineralized olivine monzonite and pyroxenite showing hyperalkaline chemical affinities within the Complex. Grab sampling of the mineralized occurrences returned strong values in TREO including Y, iron oxide (Fe2O3), titanium oxide (TiO2), phosphate (P2O5) and niobium oxide (Nb2O5) over coincident magnetic-radiometric geophysical features (see Table 1). A large portion of the magnetic ring was found to be covered by overburden and could not be evaluated at surface by exploration crews.

In addition, recent identification of new, high-priority REE targets to the south of the Misery Lake discovery has led to the staking of 1,500 mining claims covering approximately 60,000 hectares (see Figure 4). Currently, the property is composed of 1,776 claims covering 79,385 ha in Quebec and Labrador.

The closest geologic analogy to Misery Lake Complex is the Lovozero Alkaline Massif in the central part of the Kola Peninsula, Russia (in "The Khibina and Lovozero alkaline massifs: geology and unique mineralization, August 2008, IGC Excursion Guide No 47) and the Ilimaussaq Intrusion in western Greenland. The Lovozero Complex covers an area of approximately 490 km2 and is Russia's most important producer of zirconium, rare earth oxides, tantalum, phosphate and niobium. Production is derived principally from loparite (calcium-niobium-tantalum LREE oxide), eudialite (calcium-sodium-hafnium-LREE zirconium silicate) and apatite (calcium phosphate) in association with rhythmically-layered, medium- to coarse-grained alkali intrusive rocks.

Given the success of the reconnaissance work at Misery Lake, Quest intends to significantly expand the scope of exploration on the property in 2010. A program of airborne geophysics, prospecting, geological mapping, geochemical sampling, gridding and diamond drilling is currently in planning.

Quality Control

Mr. Peter Cashin, P. Geo., is the qualified person on the Strange Lake Project under National Instrument 43-101 and was responsible for this news release. Material for analysis has been obtained from grab samples from outcrop and boulders. A strict QA/QC program is followed which includes the use of elemental standards, duplicates and blanks. Analyses were performed by Activation Laboratory Limited of Ancaster, Ontario.

About Quest Uranium

Quest Uranium Corporation is a Canadian-based, exploration company focused on the identification and discovery of new world-class Rare Earth 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 Strange Lake area of northeastern Quebec, the Kenora area of northwestern Ontario and the Plaster Rock area of northwestern New Brunswick. Quest continues to pursue high-value 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".

NOTE:

To view Figure 1 - Misery Lake Project Location Map, George River area, Quebec, please visit the following link - http://media3.marketwire.com/docs/quc11119.pdf

To view Table 1 - Selected Grab Sampling Results, Misery Lake Rare Earth Project, Quebec, please visit the following link - http://media3.marketwire.com/docs/quc21119.pdf

To view Figure 2 - Misery Lake REE Discovery represented on Regional Airborne Magnetics Map, George River area, Quebec, please visit the following link - http://media3.marketwire.com/docs/quc31119.pdf

To view Figure 3 - Misery Lake Discovery Grab Sample Location Map on Airborne Magnetics, Quebec, please visit the following link - http://media3.marketwire.com/docs/quc41119.pdf

To view Figure 4 - Regional Geological Compilation with Regional REE + fluorine Anomalies, Radiometric eqThorium Base, Misery Lake Project, Quebec, please visit the following link - http://media3.marketwire.com/docs/quc51119.pdf

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 this release.

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