Northquest Ltd.

Northquest announces additional drilling results from the Pistol Bay Gold Project, Nunavut, Canada. The project consists of 675 square kilometres of mineral rights covering a 50 kilometre strike length of a 2 kilometre wide alteration zone known as the Pistol Bay Corridor, which contains numerous gold occurrences. The results herein are from the Vickers Target. The Company has completed 4,580 metres of drilling [...]

Northquest today announced that it has raised gross proceeds of $4,999,700 by way of a brokered private placement of 3,470,500 units and 3,658,500 flow-through units at a price of C$0.65 per Unit and C$0.75 per Flow-Through Unit. Each Flow-Through Unit is comprised of one flow-through share in the capital of the Company and one half of one common share purchase warrant. Each full Flow-Through Unit warrant entitles [...]

Northquest announces that it has commenced a high-resolution airborne magnetometer survey at the Pistol Bay Gold Project. The Pistol Bay Gold Project consists of approximately 673 square kilometres of staked claims and prospecting permits covering the Pistol Bay Corridor which is a deformation zone containing numerous gold occurrences including the Vickers Target. The Pistol Bay Corridor has a nominal width of 2 [...]

Northquest is pleased to announce that it has entered into an agreement with Clarus Securities Inc. and PowerOne Capital Markets Limited as co-lead agents, and including Fraser Mackenzie Limited and Toll Cross Securities Inc. (collectively, the "Agents"), whereby the Agents will raise up to C$5,000,000 (the "Offering") through a combination of flow-through units (the "Flow-Through Units") offered at a price of C$0.75 [...]

Northquest announces that it has staked and filed recording applications for thirteen claims comprising an additional 98 square kilometres (24,250 acres) of mineral rights at the Pistol Bay Gold Project. The newly-staked claims tie on to the west side of the current 575 square kilometre claim block bringing the total area of the project claims to approximately 673 square kilometres.

Northquest announces that a second drill has commenced drilling at the Pistol Bay Project. It is anticipated that the drill will complete two or three additional drill holes at the Vickers Target before the end of the 2012 drilling season. Northquest is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of gold and other minerals. Northquest has [...]