Silver Quest Resources Ltd.
TSX VENTURE : SQI

Silver Quest Resources Ltd.

November 27, 2007 09:30 ET

Silver Quest Resources Ltd.: Initial Drill Results from the Santa Rosa Property Return Significant Silver Intercepts

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 27, 2007) - Silver Quest Resources Ltd. (the "Company") (TSX VENTURE:SQI) is pleased to report significant initial assay results from its recently completed twenty hole reverse-circulation ("RC") drill hole program at the Santa Rosa silver-lead property located approximately 175 kilometres east of Hermosillo in the state of Sonora, Mexico. The Company has a right to earn a 100% interest in the property (see June 14, 2006 news release).

Assay results from the first four holes submitted to the lab (sampled on 1.5 metre intervals) have been received and results to date indicate encouraging silver and base metal values over sizable intercepts, including:



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Hole SR07-08 returned 22.86 metres averaging 99.7 grams per tonne (g/t)
silver (2.91 oz/t) and 0.160 percent (%) copper from 19.81
to 42.67 metres; and another zone of 4.57 metres averaging
315.0 g/t silver (9.19 oz/t) and 0.504% copper, from 56.39
to 60.96 metres
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Hole SR07-10 returned 7.62 metres averaging 223.0 g/t silver (6.50 oz/t),
0.677% lead and 0.300% copper, from 42.67 to 50.29 metres
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Hole SR07-11 returned 6.10 metres from surface, averaging 87.0 g/t silver
(2.54 oz/t) and 0.267% copper; plus a second zone of 6.10
metres averaging 121.8 g/t silver (3.55 oz/t) and 0.175%
copper from 48.77 to 54.86 metres
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The Company is encouraged by these initial assay results as they represent significant silver, copper and lead values over considerable widths at shallow depths. These holes also indicate a south-east trending mineralized zone over a drilled strike length of approximately 110 metres. At this early stage of exploration it is not possible to accurately estimate the true width, geometry, or extent of the mineralized zones. However, results do indicate the potential to host bulk-tonnage, silver-lead-copper mineralization. Sulphide mineralization including galena, tetrahedrite and minor pyrite, together with barite, occurs in a carbonate breccia unit within interbedded sedimentary and volcanic (andesite) units.

Additional results from the remaining fourteen holes are expected over a period of three to four weeks, and will be issued as they become available.



More detailed assay information from the four holes reported includes:

Hole SRO7-08

------------------------------------------------------------------------
From To Interval Ag Ag
m m m g/t oz/t Pb % Cu %
------------------------------------------------------------------------
7.62 10.67 3.05 m 29.5 0.86 0.010 0.067
------------------------------------------------------------------------
and
------------------------------------------------------------------------
19.81 71.63 51.82 m 91.6 2.67 0.103 0.165
------------------------------------------------------------------------
including 19.81 25.91 6.10 m 114.8 3.35 0.028 0.079
------------------------------------------------------------------------
including 25.91 32.00 6.10 m 26.3. 1.02 0.005 0.034
------------------------------------------------------------------------
including 32.00 38.10 6.10 m 187.5 5.47 0.011 0.391
------------------------------------------------------------------------
including 38.10 42.67 4.57 m 60.3 1.76 0.222 0.125
------------------------------------------------------------------------
including 42.67 48.77 6.10 m 11.8 0.34 0.075 0.025
------------------------------------------------------------------------
including 48.77 56.39 7.62 m 40.6 1.18 0.350 0.146
------------------------------------------------------------------------
including 56.39 60.96 4.57 m 315.0 9.19 0.066 0.504
------------------------------------------------------------------------
including 60.96 65.53 4.57 m 15.7 0.46 0.018 0.024
------------------------------------------------------------------------
including 65.53 71.63 6.10 m 94.0 2.74 0.086 0.170
------------------------------------------------------------------------
and
------------------------------------------------------------------------
lower zone 103.63 108.20 4.57 m 75.7 2.21 0.785 0.111
------------------------------------------------------------------------

Hole SR07-09

------------------------------------------------------------------------
From To Interval Ag Ag
m m m g/t oz/t Pb % Cu %
------------------------------------------------------------------------
0.00 4.57 4.57 m 37.3 1.09 0.008 0.087
------------------------------------------------------------------------
including 1.52 3.05 1.52 m 65.0 1.90 0.004 0139
------------------------------------------------------------------------
and
------------------------------------------------------------------------
19.81 21.34 1.52 m 125.0 3.65 0.017 0.066
------------------------------------------------------------------------
and
------------------------------------------------------------------------
32.00 38.10 6.10 m 16.0 0.47 0.003 0.027
------------------------------------------------------------------------

Hole SR07-10

------------------------------------------------------------------------
From To Interval Ag Ag
m m m g/t oz/t Pb % Cu %
------------------------------------------------------------------------
21.34 54.86 33.53 m 69.6 2.03 0.238 0.112
------------------------------------------------------------------------
including 21.34 27.43 6.10 m 56.3 1.64 0.012 0.150
------------------------------------------------------------------------
including 27.43 42.67 15.24 m 4.3 0.130 0.006 0.012
------------------------------------------------------------------------
including 42.67 50.29 7.62 m 223.0 6.50 0.677 0.300
------------------------------------------------------------------------
including 50.29 54.86 4.57 m 49.3 1.44 0.582 0.084
------------------------------------------------------------------------

Hole SR07-11

------------------------------------------------------------------------
From To Interval Ag Ag
m m m g/t oz/t Pb % Cu %
------------------------------------------------------------------------
0.00 6.10 6.10 m 87.0 2.54 0.031 0.267
------------------------------------------------------------------------
and
------------------------------------------------------------------------
32.00 60.96 28.96 m 52.3 1.53 0.204 0.082
------------------------------------------------------------------------
including 32.00 39.62 7.62 m 23.6 0.69 0.047 0.024
------------------------------------------------------------------------
including 39.62 42.67 3.05 m 107.5 3.14 0.017 0.238
------------------------------------------------------------------------
including 42.67 48.77 6.10 m 17.8 0.52 0.019 0.033
------------------------------------------------------------------------
including 48.77 54.86 6.10 m 121.8 3.55 0.049 0.175
------------------------------------------------------------------------
including 54.86 60.96 6.10 m 25.8 0.75 0.832 0.031
------------------------------------------------------------------------


Hole SR07-08 is the most northerly hole located near the edge of the mineralized ridge, angled -50 degrees, at an azimuth of 025 degrees (NE). Hole SR07-09 is drilled close to the same collar at -80 degrees, at an azimuth of 025 degrees (NE). Hole SR07-10 is collared 57 metres southeast of hole SR07-08 and is drilled at -45 degrees at an azimuth of 115 degrees (ESE). Hole SR07-11 is collared 12 meters northeast of hole SR07-08, and drilled at -45 degrees, at an azimuth of 070 degrees (ENE). Holes SR07-06 and SR07-07 respectively located approximately 180 and 210 metres south of SR07-08 on a different target, encountered massive limestone, and were not sampled.

Complete tables of these drill holes and a location map of the drilling will be made available on the Company's website. Sample preparation to date has been completed by ALS Chemex in Hermosillo, Sonora, with analysis completed by ALS Chemex in Vancouver, reported in parts per million (ppm). Tom Evans, PGeo. (California), supervised the recent program. Robert Weicker, PGeo. is the qualified person as defined by National Instrument 43-101 for the Santa Rosa project, and verified and supervised preparation of the scientific and technical information in this release.

In other matters, the Company is also pleased to report that the TSX-Venture Exchange has completed their Suitability Review with respect to the Company's President and CEO, Mr. Robert Weicker, and report that: "Having considered Mr. Weicker's response to our concerns, TSX Venture Exchange (the "Exchange") will not be taking further action against Mr. Weicker at this time and we do not object to his current involvement with Exchange listed issuers."

"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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