Silver Quest Increases Boulevard Property, Yukon
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/01/10 -- Silver Quest Resources Ltd. (TSX VENTURE: SQI) (the 'Company') is pleased to announce that it has executed an option agreement to acquire a 100% interest in eight mineral claims (the 'Tiger claims') increasing the Company's Boulevard Property by approximately 165 hectares. The Tiger claims are strategically located along trend from the Company's Sunset gold-arsenic-antimony soil geochemical anomaly within the Boulevard Property which is 135 kilometres south of Dawson City, 35 kilometres south of Kinross' Golden Saddle gold deposit and 10 kilometres southwest of Kaminak's Coffee gold discoveries. For a location map and property details see the Company's website www.silverquest.ca.
Pursuant to the terms of the option agreement, the Company can acquire a 100% interest, subject to a 2% percent net smelter return royalty ('NSR'), in the Tiger claims by issuing an initial 250,000 common shares. To complete the option, the Company will be required to issue, on or before August 26, 2011, additional common shares having a value of $50,000. At any time following the completion of the option, the Company may purchase one-half of the NSR for a cash consideration of $2 million. The option agreement is subject to regulatory acceptance. All securities issued pursuant to the option agreement will subject to a four month hold period trading restriction.
SILVER QUEST RESOURCES LTD.
Randy Turner, President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Silver Quest Resources Ltd.
Investor Relations
604-687-3959
604-687-1448 (FAX)
info@silverquest.ca
www.silverquest.ca