Vancouver, BC - Silver Quest Resources (TSX.V: SQI) ("Silver Quest" or "the Company") is pleased to report the discovery of a significant gold-in-soil anomaly, referred to as Rusty Creek, at the Capoose Project, located approximately 185 km southwest of Prince George, British Columbia. The Rusty Creek anomaly is 1.2 km long by 0.5 km wide and was identified during the 2010 geochemical soil sampling program. For more information please visit the Company's website at www.silverquest.ca.

The 2010 geochemical sampling program was conducted as a reconnaissance style program over part of the Capoose project property, located 18 km southwest of the Capoose Deposit (see news release dated January 20, 2011). The Capoose Project is comprised of 97 claims covering approximately 39,607 hectares. See the Company's news release dated March 2, 2011 for the updated NI 43-101 Indicated and Inferred mineral resource estimate for the Capoose Deposit. Sampling was completed in a grid orientation covering an area of 128 square km. A total of 826 soil samples were collected at 200 m intervals along lines spaced 500 m apart.

Gold concentrations in the 826 soil samples range from zero to 61 ppb gold, with 32 soils containing greater than 15 ppb gold (95th percentile). Using the 95th percentile value a 1.2 km by 0.5 km gold-in-soil anomaly has been identified with values ranging from 15 to 45 ppb gold. Further soil sampling is planned to better define this anomaly during the 2011 field season. Prospecting and geochemical rock sampling, followed by a diamond drill program, are also being planned for this area to test the mineralized bedrock source of the gold-in-soil anomaly.

Geochemical analysis of the soils and rocks was conducted by Stewart Group Global (Eco Tech Laboratory Ltd.) in Kamloops, British Columbia, an International Standard ISO 9001:2000-certified laboratory. The samples were analyzed using a 28-element ICPMS package, plus a fire assay geochemical analysis with an AA finish for gold.

David Pawliuk, P. Geo., Vice-President Exploration for Silver Quest is the Qualified Person, as defined by NI 43-101, for the Capoose Project and has reviewed the technical information in this release.


SILVER QUEST RESOURCES LTD.
"Randy Turner"
Randy Turner, President

April 12 2011
Silver Quest Resources agreement for WIT property

2011-04-12 16:29 ET - Property Agreement


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The TSX Venture Exchange has accepted for filing a property option agreement dated March 3, 2011, between Silver Quest Resources Ltd. and Bullrun Prospecting Inc. (Rauni Malhi, Amritpaul Dadwal) whereby the company has been granted an option to acquire 100-per-cent interest in the WIT property (304 claims, 6,340 hectares) located 30 kilometres north of Mayo, Yukon Territory. Consideration is $75,000 cash and 600,000 common shares payable over three years as displayed in the table.

Date Cash Securities
Within seven days of acceptance $75,000 200,000
Jan. 15, 2012 nil 100,000
July 15, 2012 nil 100,000
Jan. 15, 2013 nil 100,000
Dec. 1, 2013 nil 100,000
Total $75,000 600,000


Silver Quest agreement for YCS claims
2011-04-12 16:32 ET - Property Agreement

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The TSX Venture Exchange has accepted for filing a property option agreement dated March 15, 2011, between Silver Quest Resources Ltd. and Yukon Cornelius Syndicate (10 arm's-length shareholders) whereby the company has been granted an option to acquire a 100-per-cent interest in the YCS claims (80 claims, 1,670 hectares) contiguous with the Boulevard property located 135 kilometres south of Dawson City, Yukon Territory. Consideration is $100,000 cash and 300,000 shares issuable within five days following exchange acceptance of notice of the transaction. The property is subject to a 2.0-per-cent net smelter returns royalty (NSR) which the company can purchase one-half of for $1-million and the vendor will retain a 1.0-per-cent NSR subject to further exchange review and acceptance.