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Silver Quest Expands Capoose-Silver Trend Property
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Silver Quest Resources Ltd. (the "Company") is pleased to announce that
it has entered into an option agreement with Mr. Piotr Lutynski (the
"Vendor') to acquire 100% of the JAG Property (comprising claims
557495, 667496, 534364, 534365, 534366, 534367 and 552497). The JAG
Property is comprised of seven claims located directly northeast of
Silver Quest's current Capoose-Silver Trend property in the Omineca
Mining District, British Columbia.
Subject to regulatory acceptance, the Company will have the right to
acquire 100% of the JAG Property by making cash payments totaling
$875,000 and issuing 200,000 shares to the Vendor over a ten (10) year
period. The vendor will retain a 1.5% NSR, with the Company having the
option to buy-back 1.00% for $1,000,000 leaving the Vendor with the
remaining 0.50% NSR.
Mr. Robert Weicker, the Company's President & CEO states: "The
expansion of the Capoose-Silver Trend Property to the Northeast is an
excited step in this year's exploration program. Previous soil samples
in the new area have yielded geochemical anomalies that are of
interest. We hope to be able to expand the historical resource in the
area now that we have secured the entire five kilometer long Silver
Trend".
Silver Quest is working on an extensive exploration program at
Capoose-Silver Trend this season, including a soil sampling grid
covering 150 line-kilometres, an IP survey covering 70 line-kilometres
and a drill program scheduled (permits pending) for September.
"Silver Quest is an established Canadian junior exploration company
with a focus on silver and gold projects, with 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"
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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Copyright (c) 2008 SILVER QUEST RESOURCES LTD. (SQI) All rights
reserved. For more information visit our website at
http://www.silverquest.ca/ or send mailto:info@silverquest.ca
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