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To: LoneClone who wrote (26993)	10/7/2008 9:11:48 PM
From: LoneClone	Read Replies (1) \| Respond to of 194034

Silver Quest Resources Ltd.: Exploration Update on the Capoose-Silver Trend Project, B.C. Tue Oct 7, 1:55 PM ca.news.finance.yahoo.com VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2008) - Silver Quest Resources Ltd. (TSX VENTURE: SQI.V) (the "Company") is pleased to report an exploration update on the Capoose-Silver project located approximately 185 kilometres west-southwest of Prince George, British Columbia. Exploration activities commenced in late May, continued throughout the summer, and will be completed and demobilized from site this week. The current program covered three known mineralized zones and a soil geochemical anomaly (known as the "Silver Trend"), extending for a strike length of 4.5 kilometres in a northeast direction, defined by a two ppm silver threshold. Activities since May included line cutting, prospecting, soil geochemistry, Induced Polarization (IP) geophysics, and geological mapping, cumulating in a ten hole, 1,441 metre diamond drill program. The current program is the first significant exploration activity on the property since 1984. Previous exploration by Granges Inc. and Cominco Ltd. (now Teck Cominco Limited "Teck") from 1978 to 1984 outlined three zones of low-grade, disseminated silver-gold mineralization at shallow depths, amenable to open pit mining. The mineralization is hosted in garnetiferous rhyolites and hornfelsed argillite. Historical resources (see Press Release January 17, 2008) on Zones 1 and 2 reported by Pan American Silver Corp. (1999 annual report dated April 17, 2000, on SEDAR), are stated to be 28.22 million tonnes averaging 36.0 grams per tonne silver and 0.34 grams per tonne gold (for contained metal of 32.66 million ounces of silver and 308,500 ounces of gold). This historical resource estimate completed by Pan American Silver Corp. was not compiled within the definitions and standards outlined in National Instrument 43-101, and the company cautions that these historic resource estimates cannot be relied upon. The Company is also pleased to announce the acquisition, from Teck, of a significant data package on the Capoose property. As consideration for the data package, the Company has granted Teck the right of first offer/right of first refusal to purchase any mineral properties, or rights thereto, that the Purchaser now holds or which it may acquire within a specified Area of Interest prior to August 31, 2012. The most significant component of the data package is detailed geologic logs, assays, and reports on fifty-four drill holes completed from 1980-1981. The data package will contribute significantly to the generation of the geologic model that will allow for improved exploration targeting, resource estimation and open pit optimization of the Capoose project. In addition, important assay data on the copper, lead and zinc contents may add significant byproduct credits to the value of the deposits. Geochemical analysis and assaying is conducted by Eco Tech Laboratory in Kamloops, with diamond drilling by Driftwood Drilling of Smithers. Mr. David Pawliuk, P.Geo is the qualified person, as defined by National Instrument 43-101, for the Capoose-Silver Quest project and Mr. Robert Weicker, P.Geo supervised the preparation of the technical information in this release and verified the scientific and technical information and opinions contained herein by reviewing the underlying data. Assay results from the recently completed drill program are pending and will be released when they become available. "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 and Sonora, Mexico. For Silver Quest property locations and information, visit the Company's web site at www.silverquest.ca." SILVER QUEST RESOURCES LTD. Robert F. Weicker, President The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. Contacts Robert F. Weicker Silver Quest Resources Ltd. President (604) 687-3959 (604) 408-0489 (FAX) Email: info@silverquest.ca Website: www.silverquest.ca