Silver Quest Resources Ltd.
TSX VENTURE : SQI

Silver Quest Resources Ltd.

August 14, 2007 20:48 ET

Silver Quest Resources Ltd.: Compliance

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 14, 2007) -

NOT FOR DISTRIBUTION TO THE US OR TO US WIRE SERVICES

Silver Quest Resources Ltd. ("Silver Quest") (TSX VENTURE:SQI), has been requested by the Compliance & Disclosure Department of the TSX Venture Exchange ("TSX-V") to announce that one of Silver Quest's directors and its President, Robert F. Weicker, recently entered into a "Settlement Agreement" with the BC Securities Commission regarding disclosure made in 2004 by Aberdene Mines Ltd. ("Aberdene"), an OTC (USA) traded issuer unrelated to Silver Quest, of which he was formerly a director and officer.

As Aberdene's senior geologist and director, Mr. Weicker signed three news releases in June and July 2004 that relied on historical mineral resource estimates which failed to meet the requirements set out in NI 43-101 Standards of Disclosure for Mineral Projects and therefore contained misleading scientific and technical information about a mineral property, made incorrect statements related to the economic viability of the property, and failed to disclose that he had an interest in the property held by Aberdene.

Under the Settlement Agreement, Mr. Weicker paid $30,000 to the BCSC and will not prepare or disseminate news releases containing scientific or technical information for any issuer for 12 months without supervision by a director or officer of that issuer. Silver Quest has procedures in place pursuant to it's public disclosure policy to provide compliance with the terms of this Settlement Agreement.

Silver Quest has been informed by the TSX-V that it is conducting a "Suitability Review" of Mr. Weicker.

SILVER QUEST RESOURCES LTD.

John A. McDonald, 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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