Silver Quest Resources Ltd.
TSX VENTURE : SQI

Silver Quest Resources Ltd.

July 26, 2011 08:00 ET

Silver Quest Discovers Mineralized Vein Float on the 3Ts Project, BC

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 26, 2011) - Silver Quest Resources (TSX VENTURE:SQI) ("Silver Quest" or "the Company") is pleased to announce initial results from the 2011 prospecting program on its 3Ts Project in central British Columbia, located approximately 120 km southwest of Vanderhoof. For additional information please visit the Company's website www.silverquest.ca.

The 3Ts Project covers an epithermal quartz-carbonate vein system within which 12 individual mineralized veins, ranging up to 650 metres in strike length, have been identified to date. The 3Ts Project consists of five contiguous properties located in the Nechako Plateau region of central British Columbia. Collectively, the project consists of ten mineral claims totalling approximately 3,164 hectares.

Prospecting has been completed over an area north of the Mint Vein, which is located in the eastern part of the project area. Previous diamond drilling on the Mint Vein intersected up to 4.15 grams per tonne ("g/t") gold and 45.8 g/t silver across 4.9 metres.

A total of 55 quartz-carbonate vein samples have been analyzed. One vein float boulder contains 8.31 g/t gold with 56.3 g/t silver, and another contains 4.02 g/t gold with 90.2 g/t silver. Seven of the 55 samples contain greater than 1.0 g/t gold.

The sampled boulders are rounded to angular, and range up to 30 cm by 47 cm across. The quartz-carbonate vein material usually contains about 20% to 30% calcite with 70% to 80% quartz. In addition, the vein material generally contains traces of hematite, limonite and/or manganese oxides. No sulphide minerals have yet been identified.

Glacial transport within the 3Ts Project area was from west to east, and the mineralized float boulders are located north of the surface limit of Mint Vein outcrop. The Mint Vein is unlikely to be the bedrock source of the mineralized boulders. The bedrock source of the mineralized float boulders is therefore as yet undiscovered, quartz-carbonate veins located within the overburden-covered area to the west. Prospecting is continuing within this area.

Sample analysis and assaying is being conducted by SGS Canada Inc., Vancouver, BC.

A 2,000 metre diamond drilling program commenced on the 3Ts Project on June 8, 2011. The program was designed to test several of the known veins, including the Ted Vein. The best hole from previous drilling (by Phelps Dodge) on the Ted Vein intersected 8.88 g/t gold and 393.6 g/t silver across a true width of 15.4 metres.

David Pawliuk, P.Geo., Vice President Exploration for Silver Quest is the Qualified Person, as defined by National Instrument 43-101, for the 3Ts Project and supervised the preparation of the technical information in this release.

SILVER QUEST RESOURCES LTD.

Randy Turner, President

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

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