Silver Quest Resources Ltd.
TSX VENTURE : SQI

Silver Quest Resources Ltd.

January 30, 2008 15:38 ET

Silver Quest Resources Ltd.: Additional Drill Results from the Santa Rosa Property, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 30, 2008) - Silver Quest Resources Ltd. (the "Company") (TSX VENTURE:SQI) is pleased to report remaining analytical results from the reverse-circulation ("RC") drill program completed last fall on the 2,000 hectare Santa Rosa silver-lead-copper property located approximately 175 kilometres east of Hermosillo in the state of Sonora, Mexico. The Company has a right to earn a 100-per-cent interest in the property (see news release dated June 14, 2006).

The Company previously announced (see news release dated November 26, 2007) results from the first four holes (SR07-08 to SR07-11) of a 20 hole, 1,821.2 metre RC drill program. Results from the remaining holes have now been received and results indicate multiple encouraging silver and base metal zones over sizable intercepts. Key intervals from the remaining holes include:



SOUTHEAST ZONE

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From To Interval
Hole No. m m m Ag g/t Ag oz/t Pb % Zn % Cu %
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SR07-23 85.34 103.63 18.29 151.8 4.43 0.91 0.39 0.37
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including 97.54 103.63 6.10 251.0 7.32 2.72 1.07 0.49
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RIDGE ZONE

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From To Interval
Hole No. m m m Ag g/t Ag oz/t Pb % Zn % Cu %
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SR07-12 Surface 3.05 3.05 115.0 3.35 0.03 0.10 0.37
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And 71.63 86.87 15.24 111.9 3.26 0.04 0.05 0.16
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including 74.68 79.25 4.57 181.7 5.30 0.09 0.06 0.24
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including 82.30 85.35 3.05 167.5 4.89 0.02 0.07 0.27
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SR07-13 99.06 109.73 10.67 32.7 0.95 0.19 0.03 0.09
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SR07-14 57.91 64.01 6.10 111.8 3.26 0.05 0.07 0.20
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And 85.34 129.54 44.20 32.1 0.94 0.19 0.05 0.11
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including 85.34 89.91 4.57 64.3 1.88 0.09 0.14 0.47
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including 117.35 121.92 4.57 93.3 2.72 0.32 0.05 0.21
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UPPER DECK ZONE

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From To Interval
Hole No. m m m Ag g/t Ag oz/t Pb % Zn % Cu %
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SR07-15 12.19 18.29 6.10 87.8 2.56 2.33 0.07 0.13
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SR07-16 1.52 9.14 7.62 49.6 1.45 0.41 0.09 0.08
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SR07-17 4.57 10.67 6.10 77.5 2.26 0.76 0.07 0.11
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SR07-21 6.10 15.24 9.14 76.2 2.22 2.04 0.71 0.12
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SU ZONE

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From To Interval
Hole No. m m m Ag g/t Ag oz/t Pb % Zn % Cu %
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SR07-23 6.10 9.14 3.05 31.5 0.92 1.36 0.66 0.08
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SR07-25 10.67 15.24 4.57 49.0 1.43 3.74 0.05 0.07
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OTHER HOLES

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From To Interval
Hole No. m m m Ag g/t Ag oz/t Pb % Zn % Cu %
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SR07-18 no significant mineralization
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SR07-19 19.81 30.48 10.67 76.3 2.22 0.04 0.06 0.18
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SR07-20 intersected massive limestone, with only minor mineralization
observed
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SR07-22 no intersect significant mineralization
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SR07-24 22.86 27.43 4.57 61.0 1.78 0.02 0.02 0.09
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And 44.20 48.77 4.57 23.0 0.67 0.52 0.02 0.05
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A detailed table of results and a drill hole location map will be made available on the Company's website.

The Santa Rosa property represents an early-stage exploration project with the discovery of near-surface, potentially bulk-tonnage silver-lead-copper mineralization. Results to date indicate multiple zones of mineralization, with the geology and style of mineralization consistent with a carbonate-replacement-deposit (CRD) model. Sulphide mineralization, including galena, tetrahedrite and minor pyrite, together with barite, occurs in a carbonate breccia unit within interbedded sediments cut by volcanic (andesite) units. At this early stage of exploration, it is not possible to estimate the true width of the mineralized zones, their geometry, nor their extent. Additional drilling is required to determine these parameters. Prior to initiating the next exploration program, the Company is awaiting analysis from the surface sampling and prospecting program completed in late 2007.

Sample preparation to date has been completed by ALS Chemex in Hermosillo, Sonora, with analysis completed by ALS Chemex in Vancouver, British Columbia, an ISO 9001:2000 and ISO 17025 accredited laboratory. Samples are crushed, pulverized and digested in a four-acid solution and all elements were analyzed by ICP methods, and reported in parts per million (ppm). Over limits (+200 ppm silver) are assayed by a four-acid digestion with conventional ICP-AES analysis (ME-OG62). Mr. Thomas Evans, PGeo (California), supervised the recent programs and Robert Weicker, PGeo, the qualified person as defined by National Instrument 43-101 for the Santa Rosa project, verified the scientific and technical information in this release and supervised its preparation.

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

SILVER QUEST RESOURCES LTD.

Randy C. Turner, Director

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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