Silver Quest Resources Ltd.
TSX VENTURE : SQI

Silver Quest Resources Ltd.

September 15, 2010 08:00 ET

Silver Quest Intersects Gold Mineralization on Boulevard, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 15, 2010) - Silver Quest Resources Ltd. (TSX VENTURE:SQI) (the "Company") is pleased to announce that gold mineralization has been intersected during the 2010 drill program on the Boulevard Project ("Boulevard"), located in the White Gold District, Yukon.

The 2010 drill program was the Company's first diamond drill program on the Boulevard property and was designed to test for bedrock mineralization beneath 3 anomalous gold-arsenic-antimony soil geochemical zones referred to as Vegas, Sunset and Hollywood (see news release July 13, 2010). Six drill holes (900.5 m) completed on Vegas tested only the central portion (approximately 50%) of the zone's strike length (670 m in length and 50 m in width).

Significant Gold Assay Intercepts from the Vegas Zone
Drill Hole From (m) To (m) Interval (m) Gold (g/t)
BV10-21 17.07 20.60 3.53 0.19
BV10-21 45.68 46.28 0.60 0.65
BV10-22 56.00 75.20 19.20 0.36
  including 72.60 75.20 2.60 1.02
BV10-23 62.00 85.90 23.90 0.79
  including 62.00 68.26 6.26 2.11
BV10-24 63.05 64.09 1.01 0.93
BV10-24 81.14 85.14 4.00 0.48
BV10-24 95.00 96.40 1.40 3.52
BV10-25 43.00 48.20 5.20 0.15
BV10-27 148.65 151.29 2.64 0.45
*Note: True widths are estimated to be 80 to 90% of the mineralized intervals

All reported drill holes were drilled northeast at minus 50 degrees, except for BV10-23 which was drilled at minus 70 degrees from the same collar location as BV10-22. Gold mineralization in Vegas occurs within a quartz-carbonate vein stockwork and the adjacent chlorite-biotite schist wall rock. The gold bearing veins are planar, un-deformed and range from 0.5 to 4 cm in thickness. The vein stockwork zone is 25 to 35 m wide and dips approximately 45 degrees to the southwest. Drilling to date has traced this veined zone for 330 m of the 670 m strike length.

Assays from 14 diamond drill holes completed on Sunset and Hollywood are pending, and will be released as received by the Company. The Boulevard Project is located 135 km south of Dawson City and 10 km southwest of Kaminak's Coffee gold discovery. For a property details and a location map please see the Company's website www.silverquest.ca.

Drill core analysis and assaying is being conducted by ALS Laboratory Group in Vancouver, BC, which is an ISO/IEC 17025:2005-accredited laboratory. Core samples were analyzed using a 51 element combination ICP-MS and ICP-AES package and a 30g fire assay for gold. Samples returning >1.0 g/t Au were reanalyzed using a 30g fire assay with gravimetric finish. The Company has implemented a quality assurance and quality control program (including insertion of standard and blank samples into the sample stream) to ensure that the sampling and analysis of all samples is conducted in accordance with the best possible practices.

Darcy Baker, P.Geo., President of Equity Exploration Consultants Ltd. is the Qualified Person, as defined by National Instrument 43-101, for the Prospector Mountain Property 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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