Silver Quest Resources Ltd.
TSX VENTURE : SQI

Silver Quest Resources Ltd.

November 10, 2010 08:00 ET

Silver Quest Intersects Gold & Silver on Capoose Project, BC

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2010) - Silver Quest Resources Ltd. (TSX VENTURE:SQI) (the "Company") is pleased to report assay results for diamond drill holes D-10-126 and D-10-129 recently completed on the Capoose Project ("Capoose") located in north central British Columbia, 185 km southwest of Prince George. The assay results confirm that precious and base metal mineralization extends at depth on the eastern side of the west arm of the Capoose Deposit. Mineralization remains open in all directions and at depth.

The current NI43-101 inferred mineral resource estimate at a 0.40 grams per tonne (g/t) gold equivalent cut-off is 53.45 million tonnes grading 0.41 g/t gold and 23.93 g/t silver for 699,000 contained ounces of gold and 41,120,000 contained ounces of silver (see news release dated March 4, 2010). For more information and property maps see the Company's website at www.silverquest.ca

Gold and Silver Assay Intercepts  
Drill Hole From (m To (m )  Interval (m )  Gold (g/t )  Silver (g/t )  Gold Equivalent (g/t ) 
D-10-126 16   24   6   0.29   22.47   0.63  
D-10-126 36   48   12   0.25   19.87   0.55  
D-10-126 72   78   6   0.19   15.80   0.43  
D-10-126 132   278   146   0.49   20.25   0.79  
Incl. 168   188   20   1.11   42.10   1.74  
and 214   240   26   0.69   29.24   1.13  
D-10-129 28   194   166   0.30   27.00   0.71  
Incl. 120   154   34   0.64   46.45   1.33  
* Gold Equivalent cut-off grade of 0.40 g/t and a minimum interval length of 4 m. Gold equivalent (AuEq) is calculated as the sum of the gold content plus 0.015 times the silver content, based upon prices of US$1025/oz. for gold and US$15.50/oz. for silver. Interval values represent drill intersection lengths and may not represent true width.  
   
   
Zinc Assay Intercepts  
Drill Hole From (m )  To (m )  Interval (m )  Zinc (% ) 
D-10-126 136   254   118   0.39  
* Zinc cut-off grade of 0.30% and a minimum interval length of 4 m. Interval values represent drill intersection length and may not represent true width.  

Diamond drill hole D-10-126 was designed to test the horizontal extent of mineralization on the eastern side of the west arm of the Capoose Deposit. This hole was inclined to the east and drilled to a depth of 306 m. Drill hole D-10-129 was designed to test the continuity of mineralization within the west arm of the Capoose Deposit. This hole was vertical and drilled to a depth of 265 m. Both of these holes intersected mainly rhyolitic volcanic rock containing disseminated pyrite and other sulphide minerals.

Drill core analysis and assaying is being conducted by Eco Tech Laboratory in Kamloops, British Columbia, which is an International Standard ISO 9001:2000-certified laboratory. The core samples were analyzed using a 28-element ICPMS package with a 30-gm fire assay with AA finish for over limit (plus 1.0 g/t) gold, (plus 30 g/t) silver and (plus 10,000 g/t) zinc concentrations. The Company has implemented a quality assurance and quality control program to ensure that the sampling and analysis of all samples is conducted in accordance with the best possible practices.

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

SILVER QUEST RESOURCES LTD.

Randy Turner, President

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