Victor J.E. Jones, President and CFO of Great Quest Metals Ltd. ("Great Quest"
or the "Company") (TSX VENTURE:GQ)(FRANKFURT:GQM), is pleased to announce that
the Company has received an NI 43-101 compliant mineral resource estimate based
on the first phase drill results within small portions of the company's 737 km2
Tilemsi Phosphate Project located in Eastern Mali, West Africa. The report from
Jed Diner, (M.Sc., P.Geol.) provides an Inferred Mineral Resource estimate of 32
million tonnes at a grade of 23.4% P2O5 (at a cutoff of 5% P2O5) using a
specific gravity of 2.1.




Inferred Resources: 
Summary of the resources at various cutoff grades 

---------------------------------------------------------------------------
                                                                           
                                                                           
                    Tin Hina            Alfatchafa              Total      
---------------------------------------------------------------------------
                         Average              Average               Average
Cutoff          Tonnes     grade     Tonnes     grade     Tonnes      grade
grade %         1000's     P2O5%     1000's     P2O5%     1000's      P2O5%
---------------------------------------------------------------------------
                                                                           
15              19,280     24.66     11,639      22.8     30,919      23.96
---------------------------------------------------------------------------
                                                                           
12              19,995     24.25     12,497     22.19     32,492      23.46
---------------------------------------------------------------------------
                                                                           
10              20,000     24.24     12,550     22.14     32,550      23.43
---------------------------------------------------------------------------
                                                                           
5               20,000     24.24     12,664     22.01     32,664      23.38
---------------------------------------------------------------------------



The Tilemsi resource model is based on 176 drill holes completed in the Phase 1
drilling program carried out in the second quarter 2011 on the two initial
target areas within the 737 km2 large project area. The phosphate bodies are
stratabound, located near surface in gently rolling plateaus, and outcropping
where the plateaus are cut by wide dry river beds. This should allow for a low
strip ratio and minimal pre-stripping requirements. The overburden and phosphate
material is soft unconsolidated silts and sand, which should be amenable to free
digging, minimizing mining costs. 


The report acknowledged that there is considerable additional untested
exploration potential on the Tilemsi concessions, especially adjacent to the
drilled areas, east of Tin Hina and SW of Alfatchafa. The report concludes that
other areas within the concessions exhibit phosphate outcrops which have not
been drill tested at all and which could increase the potential considerably.
Continued exploration and drilling is recommended. The map given in Figure 4 of
the report is presented below indicating the location of the drilling to date. 


Mr. Ehud Levy, a Director of Great Quest Metal and international consultant on
commercial phosphate deposit development stated, "The Company is pleased with
the initial resource estimate for Tilemsi as it confirms the quality of the
deposit and the potential for Mali as a source of high grade phosphate. We
believe that the current inferred resource is conservative and that drilling of
the target areas and other hills within the Tilemsi concessions will show
greater reserves and increase the project potential."


The Company has mobilized geologists to the project site for continued sampling
and geological reconnaissance. Eleven pits have been completed for a bulk sample
for metallurgical test work and field work is in progress in preparation for
drilling programs scheduled over the coming months.


Resource Estimation Methodology

The majority of the drill holes used were on the 320km2 Tin Hina Concession,
with the area of the polygons used for the calculation of resource set at
6.75km2 for Tin Hina and 6.7 km2 for Alfatchafa, representing just over 13.4km2
of the expansive 320 km2 Tin Hina area in a total project area of 737 km2.


Based on the average thicknesses of the phosphate seams, weighted average grade
of the intersections, and using a specific gravity of 2.1, the preliminary
estimate of tonnage represented by the Phase 1 drilling is approximately 32.6
million tonnes of phosphate rock at a weighted average grade 23.4% P2O5 of high
quality. Geochemical analysis of the phosphate samples indicates that the
deposit is free of deleterious elements (Cd less than 1 ppm, U less than 10 ppm)
but rich in Fe2O3 and Al2O3 (about 11% combined).


Based on the drill hole spacing and sample quality issues, the report classifies
the resources as inferred. The Phosphate field was divided into two different
areas: Tin Hina and Alfatchafa, each of which was modelled independently by seam
modeling. An Inverse Distance Squared (IDS) algorithm was used to obtain
resource estimates. A detailed statistical analysis was completed according to
the geological model. Each element assayed was included in the analysis. A two
dimensional (2D) estimate as defined by the ore layer surfaces was undertaken.
The block model size was based on drill-hole spacing and thickness of the
mineralised unit. The estimation of P2O5 for the main phosphate layer was
undertaken using the IDS method. On Alfatchafa, presence of good variograms
allowed calculation of resources using Kriging, while in Tin Hina, only IDS
estimation was possible. 


The statistical analysis comprised comparing the block average grades from the
Inverse Distance Squared (IDS) to that of the raw drill hole data. The Kriged
Alfatchafa model grades compare very well to the IDS model grades with less than
1% variation between the two models. The area is not structurally complex and so
no geological losses were applied.


To view the map accompanying this press release please visit the following link:
http://media3.marketwire.com/docs/GQMap118.pdf


Qualified Person

Jed Diner (M.Sc., P.Geol.) is the Qualified Person responsible in accordance
with NI 43-101 for the content, review and approval of this News Release. Mr.
Diner completed his MSc in Applied Earth Science at Stanford University in 1983
and works internationally on mineral exploration and resource development
projects. He has consulted on other Phosphate projects in Uzbekistan, Peru and
Angola.


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

Victor J.E. Jones, President

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 737 km2 in eastern Mali. The Company also holds several
gold concessions in the productive Birimian gold belt in western Mali. Great
Quest is listed on TSX Venture Exchange (GQ), and the Frankfurt Stock Exchange
(GQM).


12g3-2(b) Exemption #82-3116

Standard & Poor's Listed

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.
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