Great Quest Granted Permit for Tarkint Est Concession, Tilemsi Phosphate Project

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/27/13 -- Great Quest Metals Ltd. (the "Company") (TSX VENTURE: GQ) is pleased to report that it has received the official decree from the government of Mali, granting its Malian subsidiary a Research Permit ("Permis de Recherche") for the Tarkint Est concession. This concession is adjacent to the north of the Tilemsi and Aderfoul concessions and covers an area of 589 km2.

The decree ("Arrete") #20130551/MM-SG granted by the Malian Ministry of Mines is effective February 20, 2013.

Interim President and CEO, Jed Richardson commented: "We are pleased with the continued function of the Malian government during this period of conflict, as Great Quest and the government alike prepare for the return to business as usual when fighting ends in the region. We see the advancement of the Permit as an expression of confidence and support for our efforts in the country."

The Tilemsi Phosphate Project comprises three concessions and covers a total land package of 1,206 km2 situated in eastern Mali. To date, Great Quest has completed the first two phases of the exploration program and has drilled 26 km2. In 2012, the Company filed two NI 43-101 Technical Reports indicating a total inferred resource of 50 million tonnes at a high natural grade of 24.3% P2O5.

In addition to the Tilemsi Project, Great Quest holds several gold concessions in southwestern Mali. Mining companies operating in this gold-prolific region remain mostly unaffected by the current crisis in the north and are to date functioning normally.

About Great Quest

Great Quest Metals Ltd. is a Canadian mineral exploration company with assets in Mali, West Africa. The Company is focused on developing the Tilemsi Phosphate Project, encompassing 1,206 km2 in eastern Mali. The Company also holds several gold concessions in the productive Birimian gold belt, in southwestern Mali. Great Quest is listed on the TSX Venture Exchange under the symbol GQ, and the Frankfurt Stock Exchange under the symbol GQM.

ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST METALS LTD.

Jed Richardson - Interim President, CEO & Director

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. We seek safe harbor.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Great Quest Metals Ltd

Candice Font

Investor Relations

+1 604-689-2882 or Toll Free: 1 877-325-3838

604-684-5854 (FAX)
www.greatquest.com