Silver Quest Resources Ltd. is providing an update for the 2011 exploration activities on its programs located in the Nechako plateau region of central British Columbia. For additional information, please visit the company's website.

3Ts project
The 3Ts project covers an epithermal quartz-carbonate vein system within which more than 12 individual mineralized veins, ranging up to 650 metres in strike length and up to 15 metres in true width, have been identified to date. The 3Ts project is located approximately 120 kilometres southwest of Vanderhoof and consists of 10 mineral claims covering approximately 3,164 hectares.

A total of 1,645 metres of diamond drilling have been completed in 10 holes with assay results pending.

Three of these holes were drilled in the Ted vein area. The best hole from previous drilling (by Phelps Dodge) on the Ted vein intersected 8.88 grams per tonne gold and 393.6 grams per tonne silver across a true width of 15.4 metres. The remaining seven holes were drilled in the area between the Mint vein and the Ringer target. Previous diamond drill holes on the Mint vein structure intersected up to 8.08 grams per tonne gold and 80.4 grams per tonne silver across 2.0 metres (see news release dated April 28, 2003). Previous results from the Ringer zone included eight samples collected from boulders which returned an average of 19 g/t gold and 140 g/t silver (see news release dated Sept. 24, 2003). Six new mineralized veins, ranging from four centimetres to 117 centimetres wide, were intersected in the latest seven drill holes.

Mineralized quartz-carbonate-vein boulders were discovered within the 3Ts property early in the 2011 field season (see news release dated July 26, 2011) and have led to the discovery of at least four new quartz-carbonate veins in outcrop. The company is continuing with additional prospecting, with follow-up drilling being contemplated.

Capoose project

An airborne (helicopter) geophysical survey of the Capoose project area has been completed by Aeroquest International Ltd. of Mississauga, Ont. Approximately 3,350 line kilometres were surveyed; the company is awaiting final, processed survey results from Aeroquest.

A Titan 24 induced polarization survey has been completed over the Capoose deposit area by Quantec Geoscience Ltd. of Toronto, Ont. Quantec surveyed six lines spaced 200 metres apart in an attempt to determine the electrical characteristics of the deposit at greater depth than can be achieved by a conventional IP survey. Chargeability anomalies resulting from the Titan survey will be drill tested during the fall.

Reconnaissance geochemical till sampling has been carried out across the project area with additional geochemical soil sampling to better define and extend a gold-in-soil anomaly 0.5 kilometre by 1.2 kilometres in the Rusty Creek area that was identified during 2010 exploration (see news release dated April 5, 2011).

Diamond drilling is in progress at the project to complete the planned 6,000-metre program. Approximately 3,000 metres have been drilled to date in 11 holes located in the Capoose deposit area. An additional 474 metres of diamond drilling have been completed in two holes at the Fawn area, located nine kilometres to the south. The Fawn holes tested a silver- and arsenic-in-soil geochemical anomaly overlying an electromagnetic conductor.

Sample analysis and assaying are being conducted by SGS Canada Inc., Vancouver, B.C. Assay results will be released by the company as soon as they are available.

David Pawliuk, PGeo, vice-president, exploration, for Silver Quest, is the qualified person, as defined by National Instrument 43-101, for the 3Ts and the Capoose projects and supervised the preparation of the technical information in this release.


SILVER QUEST APPROVES A 75 HOLE DIAMOND DRILL PROGRAM AT THE DAVIDSON JOINT VENTURE CLAIMS.
Silver Quest Resources Ltd. has seen the Davidson joint venture management committee approve a budget covering work to be completed over the next six to nine months. The planned activities include drilling on the Davidson joint venture claims (the "Claims"), together with the preparation of a Preliminary Economic Assessment Report ("PEA") and work on certain infrastructure items that will benefit both the Claims and the overall Blackwater Project. Silver Quest's share of the budget will be approximately $5.1 million.

A 26,250 metre diamond drill program comprised of 75 drill holes designed to expand the resources on the Claims has commenced. One drill rig is currently on-site with five rigs planned to be drilling on the Claims by the end of September. This drilling is anticipated to be completed by year-end.

This drill program will be a combination of in-fill and step-out drill holes designed to delineate resources for use in the PEA Report. An updated resource estimate is targeted for early 2012 and the PEA report is scheduled for completion in mid-2012. This drill program is a follow-on to the 20,000 metre drilling program completed on the Claims during the Second Quarter (for drill results, see news releases dated April 19, 2011, May 10, 2011, June 27, 2011 and August 9, 2011).