Silver Quest Resources Ltd.
TSX VENTURE : SQI

Silver Quest Resources Ltd.

July 13, 2010 08:00 ET

Silver Quest Defines New Anomalies at Boulevard and Increases Land Position, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 13, 2010) - Silver Quest Resources Ltd. (TSX VENTURE:SQI) (the "Company") is pleased to provide an update to its shareholders on the 2010 exploration programs on the Boulevard ("Boulevard") and Prospector Mountain ("Prospector Mountain") projects in Yukon Territory. For property location maps and detailed property information please see the Company's website www.silverquest.ca.

Boulevard Project

Three new geochemical soil anomalies have been discovered at Boulevard by using an X-Ray Fluorescence (XRF) analyzer in combination with mechanical trenching. The new anomalies are parallel, geochemically distinct and trend northwesterly. The anomalies have been named Sunset, Vegas and Hollywood.

  • Sunset is 1,600 m long and 40-120 m wide. It is defined by a coincident arsenic- and antimony-in-soil anomaly with elevated levels of gold, iron, barium and copper.

  • Vegas is 670 m long and 50 m wide. It is defined by a coincident arsenic- and antimony-in-soil anomaly with elevated levels of iron, barium and molybdenum.

  • Hollywood is 580 m long and 60-80 m wide. It is defined by an arsenic-in-soil anomaly with elevated levels of gold, antimony, calcium, barium and bismuth.

Work completed to date includes the testing of approximately 300 soil samples with an XRF, a 58 line km ground magnetic survey and nine diamond drill holes (total 1,187 m) aimed at testing the three new geochemical anomalies. Drill core has been logged, split and sent to the assay lab for analysis, results are pending. The Company has approximately 1,200 m of planned drilling still to complete at Boulevard this year. Boulevard is located 135 km south of Dawson City and 10 km southwest of Kaminak's Coffee Discovery.

Prospector Mountain Project

A preliminary exploration program has been carried out within the Bonanza area of the Prospector Mountain project to expand upon 2009 results. Rock samples collected in 2009 returned values up to 82.2 grams per ton (g/t) gold, up to 1,375 g/t silver and up to 11.65% copper throughout a 4 km structural trend. The preliminary 2010 program included geological mapping and prospecting, the collection of 82 rock samples and 220 soil samples for geochemical analysis, and a 28 line km ground magnetic survey. A phase II drill program is planned for later this season to test targets generated by 2009 and 2010 exploration results. Prospector Mountain is located 90 km northwest of Carmacks and 95 km southeast of the Company's Boulevard Project.

Dawson Range – Additional Land Acquisition

Silver Quest is also pleased to announce the staking of approximately 1,900 new claims in the Dawson Range. These claims were staked based on proprietary anomalous geochemical data. The Company now has a total land package of approximately 3,100 claims totaling approximately 64,790 ha in the Dawson Range.

Mr. David Pawliuk, P. Geo. is the qualified person as defined by National Instrument 43-101 and supervised the preparation of the technical information in this release. Exploration work in the Yukon has been conducted by Equity Exploration Consultants Ltd. on behalf of Silver Quest.

SILVER QUEST RESOURCES LTD.

Randy Turner, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

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