Silver Quest Resources Ltd.
TSX VENTURE : SQI

Silver Quest Resources Ltd.

December 11, 2008 17:35 ET

Silver Quest Resources Ltd.: New Drill Results from the Capoose-Silver Trend Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 11, 2008) - Silver Quest Resources Ltd. (the "Company")(TSX VENTURE:SQI) is pleased to announce new assay results, including drill hole D-91, which returned a 222.0 metre intersection averaging 0.77 gram per tonne (g/t) gold, 47.4 g/t silver, 0.03 percent (%) copper, 0.52% lead and 0.58% zinc.

This hole was part of the recently completed ten hole, 1,441 metre drill program on the Capoose-Silver Trend Project located approximately 185 kilometres west-southwest of Prince George, British Columbia.

Results recently received for holes D-91 and D-99 include:



---------------------------------------------------------------------------
Hole # Zone-Target From To Width Au g/t Ag g/t Cu % Pb % Zn %
---------------------------------------------------------------------------
D - 91 West flank 3.7 225.7 222.0 m 0.77 47.4 0.03 0.52 0.58
of Zone 1
---------------------------------------------------------------------------
Including 3.7 21.7 18.0 m 0.59 157.5 0.04 0.83 0.32
---------------------------------------------------------------------------
Including 45.7 77.7 32.0 m 0.96 81.8 0.07 0.99 1.03
---------------------------------------------------------------------------
Including 111.7 155.7 44.0 m 1.31 53.4 0.05 0.63 0.71
---------------------------------------------------------------------------
Including 155.7 225.7 70.0 m 0.81 22.3 0.02 0.36 0.65
---------------------------------------------------------------------------

---------------------------------------------------------------------------
D - 99 Zone 2-S 6.10 46.0 39.9 m 1.14 4.5 nsv(i) 0.01 nsv(i)
Extension
---------------------------------------------------------------------------
Including 6.1 28.0 21.9 m 1.23 6.0 nsv(i) 0.01 nsv(i)
---------------------------------------------------------------------------
Including 36.0 46.0 10.0 m 1.14 4.5 nsv(i) 0.01 nsv(i)
---------------------------------------------------------------------------

(i) no significant values


Hole D-91 was drilled on the west flank of Zone 1, and east of the north end of Zone 2, drilled due west at an inclination of -75 degrees to a depth of 326.0 metres. D-91 is the deepest hole drilled to date on the Capoose property. The initial target was a near surface gold-silver intercept in historic drill hole D-32 (drilled in 1981) which returned 57.0 metres averaging 0.96 g/t gold, 45.2 g/t silver, (copper not assayed), 0.62% lead and 0.48% zinc. This zone was confirmed in hole D-91. D-91 was extended beyond its target depth of 110 metres because of the presence of persistent and widespread visible sulphide mineralization in the drill core.

Robert F. Weicker, President and CEO states: "Hole D-91 is interpreted to represent the convergence of Zones 1 and 2 and significantly expands the resource potential of the Capoose deposit. Based only on gold and silver values and width, D-91 is the best hole drilled to date on the Capoose deposit. Additional drilling is required to define the geometry and extent of the mineralization intercepted in hole D-91."

Hole D-99 tested a near surface gold-only target at the southern end of Zone 2 and returned a wide interval of mineralization hosted in rhyolite flow and lapilii tuff units. Hole D-99 was drilled at -55 degrees inclination due west from the same collar location as historic drill hole D-70. Hole D-70 was drilled at -50 degrees inclination to the east, and returned an intersection 29.3 metres, from 3.7 to 33.0 metres depth averaging 0.96 g/t gold, 3.2 g/t silver, (copper not assayed), 0.01% lead and 0.01% zinc.

Note that the above intersections are drill hole intercepts, and may not represent true widths. The mineralization is disseminated in nature and most samples are 2 metres in length.

Historical resources within Zone 1 and Zone 2 on the Capoose property (see Press Release January 17, 2008) are stated to be 28.22 million tonnes averaging 36.0 g/t silver and 0.34 g/t gold (for contained metal of 32.66 million ounces of silver and 308,500 ounces of gold) as reported by Pan American Silver Corp. (1999 annual report dated April 17, 2000, on SEDAR). This historical resource estimate by Pan American Silver Corp. was not compiled within the definitions and standards outlined in National Instrument 43-101 and the Company cautions that these historic resource estimates cannot be relied upon.

Drill core analysis and assaying is conducted by Alex Stewart - Eco Tech Laboratory in Kamloops, which is an International Standard ISO 9001:2000 certified laboratory. All sample analyses is a 35 multi-element ICPMS with a 30-gram fire assay AA finish for over limit gold (+1.00 g/t) and silver (+30.0 g/t) values. The Company has implemented a quality assurance and control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. David Pawliuk, 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.

Detailed drill information and a drill plan map will be posted on the Company's website when all the data is received and compiled. Pending assay results from the six remaining drill holes and the bottom portion of D-91 (from 225.7 to 326.0 metres), will be released as they become available.

SILVER QUEST RESOURCES LTD.

Robert F. 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.

Contact Information