Great Quest Retains Javelin Partners as Corporate Development Advisors
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/08/10 -- Victor J.E. Jones, Chairman and CFO of Great Quest Metals Ltd. (TSX VENTURE: GQ)(FRANKFURT: GQM), is pleased to announce the commencement of a 12 month engagement with Javelin Corporate Development Partners Inc. ('Javelin' or 'Javelin Partners') to take on the role of development advisor to the Company and its international subsidiaries which direct and manage its exploration activities in Mali, West Africa. Services to be spearheaded by Javelin include: corporate strategy, forecasting, news flow planning, investor relations consulting, the creation of marketing materials and other corporate development duties targeting the mining sector. Such services will not include market making activities.
In consideration of the services to be provided, the Company has agreed to pay Javelin Partners a monthly retainer of C$10,000 over the term of the engagement from its working capital.
Jed Richardson, who is a director of Great Quest Metals Ltd., is also a major shareholder and director of Javelin, owns 265,000 shares of Great Quest Metals Ltd. and holds options to purchase an additional 300,000 shares of the Company, as previously announced. Mr. Richardson will continue as a director of Great Quest Metals Ltd.
About Javelin Partners
Javelin Corporate Development Partners is a Toronto based mining industry consulting firm that assists junior resource companies in effectively communicating their business strategies and activities to the market. Clients are selected in instances where Javelin has identified opportunities to unlock and expose previously unrealized shareholder value. Launched in October 2010, the Javelin Partners team is headed by Jed Richardson, Principal.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST METALS LTD.
Victor J.E. Jones, Chairman
12g3-2(b) Exemption #82-3116
Standard & Poor's Listed
The statements that are not historical facts and are forward-looking statements involving known and unknown risks and uncertainties could cause actual results to vary materially from the targeted results.
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Contacts:
Great Quest Metals Ltd.
George Butterworth
Investor Relations
604-689-2882 or Toll Free: 877-325-3838
604-684-5854 (FAX)
info@greatquest.com
www.greatquest.com