Silver Quest Resources Ltd.
TSX VENTURE : SQI

Silver Quest Resources Ltd.

January 20, 2006 20:15 ET

Silver Quest Proposes Winter Drill Programs

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 20, 2006) -

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Silver Quest Resources Ltd. (the "Company") (TSX VENTURE:SQI) is pleased to announce plans for a winter drill programs on the Davidson and 3T's projects. Both projects, located approximately 110 kilometers southwest of Vanderhoof in central British Columbia, are focused on epithermal gold and silver mineralization.

Davidson project

Applications have been submitted for a diamond drilling program on the Davidson Project. Permits are expected by early February, with drilling planned to commence in mid-February. The initial focus of this program will be to follow-up the Company's drill hole DAV-05-02 (see news release dated November 3, 2005), which discovered a new zone of gold mineralization on the property and returned an intersection of 14.0 metres of 4.94 g/t gold and 17.1 g/t silver, within a much larger zone of 64.0 metres of 1.80 g/t gold and 6.5 g/t silver, to a depth of 160 metres.

Hole DAV-05-02 was targeted on a coincident northwest-southeast-trending gold-in-soil geochemical anomaly and geophysical conductors. The host rocks are strongly altered felsic volcanics. The 14-metre intersection is comprised of seven samples, each two metres in length, ranging from a high of 9.81 g/t Au to a low of 2.67 g/t Au.

3T's project

The Company is also proposing a drill program on its 3T's project. Work to date by the Company has defined a combined inferred resource of 176,000 gold equivalent ounces on the Tommy and the Ted veins. All resources to date are above a flat-lying microdiorite sill, although drilling has confirmed significant continuity of the veins below this unit.

Drilling on the Ted Vein will follow-up hole TT-04-37 which represented the only hole drilled below the sill, and intersected a strong zone of gold and silver mineralization returning 3.74 grams per tonne gold and 59.3 grams per tonne silver, or 4.73 grams per tonne gold equivalent using a 60:1 gold to silver ratio, over 11 metres (true width 6.5 metres) at a depth of 399.3 metres. This intersection greatly expands the size potential of the Ted Vein both along strike and up and down dip, and indicates a strongly developed, robust epithermal vein system. A long section showing the position of the TT-04-37 intersection in relation to previous drilling on the Ted Vein is posted on the Company's website.

Drilling will also be completed on the Ringer Boulder target where previous prospecting has resulted in the discovery of multiple high-grade boulder occurrences, including the Ringer Zone (eight samples averaging 19.01 grams per tonne gold and 140.1 g/t silver). This program will be conducted in an attempt to locate the in-situ source of these boulders.

The Qualified Person, as defined by National Instrument 43-101, for the Davidson and 3Ts work is David Pawliuk, P.Geo.

Silver Quest is an established Canadian junior exploration company with a focus on silver and gold projects, with nine mineral properties in B.C., Ontario and the Yukon. For Silver Quest property locations and information, visit the Company's web site at www.silverquest.ca.

SILVER QUEST RESOURCES LTD.

Robert Weicker, President

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

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