Silver Quest Resources Ltd.
TSX VENTURE : SQI

Silver Quest Resources Ltd.

March 29, 2007 20:17 ET

Silver Quest Resources Ltd.: Santa Rosa Silver Update-Assays to +1,500 g/t Silver; Phase I Drill Program Planned

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 29, 2007) - Silver Quest Resources Ltd. (the "Company") (TSX VENTURE:SQI) is pleased to report positive exploration results from the Santa Rosa property located approximately 175 kilometres east of Hermosillo, in the state of Sonora, Mexico. Silver Quest has the right to acquire a 100% interest in the Santa Rosa property (see news release dated June 5, 2006). The Company recently completed an exploration program of geological mapping, surface chip sampling, prospecting, and road construction. Assay results from the recent program on the Santa Rosa property are tabled below, with peak values of greater than 1,500 grams per tonne silver (g/t Ag), 20.1 per cent lead (Pb), 6.20 per cent zinc (Zn), and 1.11 per cent copper (Cu). The recent sampling program was focused along a southeast trending ridge 1.2 kilometres in length, with three samples taken 500 to 600 metres west of this ridge.



Santa Rosa Property Sampling Program - March 2007

Width Ag Ag Pb Zn Cu
Sample # (m) (g/t) (oz/t) (%) (%) (%)
SR07-01 2.5 389.0 11.35 8.37 0.05 0.365
SR07-02 1.0 2.2 0.06 0.02 0.01 0.003
SR07-03 3.0 6.0 0.17 0.18 1.02 0.008
SR07-04 2.0 102.0 2.97 0.04 0.08 0.263
SR07-05 1.5 +1,500.0 +43.75 0.07 0.14 1.100
SR07-06 2.0 171.0 4.99 0.32 0.14 0.439
SR07-07 Float 275.0 8.02 6.82 1.89 0.682
SR07-08 5.0 108.0 3.15 7.45 0.03 0.094
SR07-09 4.0 19.7 0.57 0.65 0.06 0.130
SR07-10 5.0 256.0 7.47 5.48 0.15 0.333
SR07-11 2.0 102.0 2.97 3.33 0.20 0.169
SR07-12 2.0 30.7 0.90 4.28 6.20 0.105
SR07-13 1.0 18.7 0.55 0.11 0.03 0.193
SR07-14 20.0 31.8 0.93 0.09 0.13 0.069
SR07-15 4.0 689.0 20.10 0.70 0.11 0.996
SR07-16 1.5 163.0 4.75 5.00 2.04 0.062
SR07-17 1.0 3.4 0.10 0.02 1.31 0.011
SR07-18 3.0 11.9 0.35 5.82 0.53 0.010
SR07-19 1.5 1,260.0 36.75 20.10 0.06 0.699
Note: Sample SR07-07, +1,500 g/t Ag has been submitted for reassay


A total of 19 samples were taken in this program (one grab float sample and 18 chip samples). The eighteen chip samples returned a weighted average of 186.1 grams per tonne silver (range from 2.2 grams per tonne to +1500 grams per tonne silver); 2.66 per cent lead (range from 0.02% to 20.10% Pb), an average of 0.43 per cent zinc (range from 0.01% to 6.20% Zn), and an average of 0.225 per cent copper (range from 0.003 per cent to 1.100% Cu).

The Company plans an initial reverse-circulation (RC) drill program totaling 1,000-1,500 metres to commence in April 2007, with four to six short (150-200 metres length) drill holes to test geological and structural targets. A water well will also be drilled to provide a reliable water supply for diamond drilling, which is planned for the summer of 2007.

The property represents an early-stage exploration project with excellent potential to host bulk-tonnage silver-lead 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. Metal values vary along the strike of the mineralized ridge, with significant consistent assays of silver, lead, zinc and copper. Scattered anomalous values of gold, and antimony were also obtained.

The recent program uncovered an old, hand-driven underground decline along a southeast trending fault zone. Samples SR07-01 and SR07-19 were collected at this showing, and returned 389.0 g/t Ag, 8.37% Pb, 0.05% Zn and 0.365% Cu over 2.5 metres, and 1260.0 g/t Ag, 20.10% Pb, 0.06% Zn, and 0.699% Cu over 1.5 metres respectively. Sample SR07-14 was collected approximately 80 metres north of the decline; this 20 metre chip sample returned 31.8 g/t Ag, and indicates widespread mineralization in the area.

Although this recent program has returned encouraging indications of silver, lead, zinc and copper mineralization, sampling to date has not systematically tested the target areas. Additional exploration is required to determine the extent of the mineralization.

Sample preparation was completed by ALS Chemex in Hermosillo, Sonora, with analysis completed by ALS Chemex in Vancouver. Mr. Tom Evans (P.Geo-California) conducted the recent Santa Rosa exploration program. Robert Weicker, P.Geo, is the qualified person, as defined by National Instrument 43-101, for the Santa Rosa project and supervised the preparation of the technical information in this release and verified the scientific and technical information and opinions contained herein by reviewing the underlying data.

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.

Robert 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.

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