Silver Quest Resources Ltd.

Silver Quest Resources Ltd.

August 05, 2009 09:30 ET

Silver Quest Resources Ltd.: Drill Permitting on Capoose-Silver Trend Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 5, 2009) - Silver Quest Resources Ltd. (the "Company") (TSX VENTURE:SQI) is pleased to report on exploration activities on the Capoose-Silver Trend project and the Davidson project, both located approximately 185 kilometres west-southwest of Prince George, British Columbia.

On the Capoose-Silver Trend property, the Company has recently submitted drill permits to government agencies for a 1,500 metre diamond drill program proposed for early September. The proposed program will follow-up last year's successful drill program that was highlighted by hole D-91 which returned a 240.0 metre intercept averaging 0.76 g/t (0.02 opt) gold, and 45.4 g/t (1.32 opt) silver. Included in this intercept were two upper zones of higher grade silver mineralization, including an 18.0 metre intercept from 3.7 to 21.7 metres averaging 0.59 g/t (0.02 opt) gold and 157.5 g/t (4.59 opt) silver; and a 34.0 metre intercept from 45.7 to 77.7 metres averaging 0.96 g/t (0.03 opt) gold and 81.8 g/t (2.39 opt) silver. These zones were followed by a gold mineralized intercept over 114.0 metres from 111.7 to 225.7 metres averaging 1.0 g/t (0.03 opt) gold and 34.3 g/t (1.00 opt) silver.

Hole D-91 was drilled on the west flank of Zone 1 and, at 326.0 metres depth, was the deepest hole and the best hole drilled to date on the Capoose-Silver Trend property. Note that all of the intersections are drill-hole intercepts, and may not represent true widths. The mineralization is disseminated in character, and the mineralized zones have gradational boundaries. Most of the core samples are 2 metres in length.

The program for the fall 2009 will expand on the D-91 mineralization along strike to the north and south, to investigate anomalous gold geochemical values returned on the south-west flank of Zone 1 (1.16 g/t (0.03 opt) gold in soils), and follow-up the gold intercept returned in hole D-91 (39.9 metres from the collar, averaging 1.14 g/t (0.03 opt) gold and 4.5 g/t (0.13 opt) silver) at the south end of Zone 2.

The Company has also mobilized a geochemical sampling crew to complete a limited program to further investigate and define the numerous anomalies from last year's extensive sampling program. These results will be received prior to the fall drill program.

Previous geochemical analysis of the soils and the drill core was conducted by Alex Stewart - Eco Tech Laboratory in Kamloops, B.C., which is an International Standard ISO 9001:2000-certified laboratory. The samples were analyzed using a 35-element ICPMS package. The Company has implemented a quality assurance and control program to ensure that sampling and analysis of all samples is conducted in accordance with the best possible practices. Robert Weicker, P.Geo., is the qualified person, as defined by National Instrument 43-101, for the Capoose-Silver Trend project and supervised the preparation of the technical information in this release.

The Company's Davidson Property was optioned to Richfield Ventures Corp. ("Richfield") whereby Richfield can earn a 75% interest over 4 years. Richfield has received the drill permit from the Ministry of Energy, Mines and Petroleum Resources and have initiated drilling. Their reported planned program consists of 15 diamond drill holes totaling 2,550 metres. The first two holes are vertical, to 300 metre depth, and located within the central part of the Gold Zone. These holes are designed to test continuity of gold mineralization at depth.


Robert Weicker, President

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

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