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Northquest Ltd. (TSX VENTURE:NQ) ("Northquest") is pleased to announce that it
has entered into an agreement with NCP Northland Capital Partners Inc. ("NCP")
to act as agent in connection with a proposed private placement (the "Offering")
pursuant to which Northquest will issue (i) units ("Units") at a price of $0.80
per Unit; and (ii) "flow-through" units ("FT Units") at a price of $1.05 per FT
Unit, in any combination to raise aggregate gross proceeds of up to $6,000,000.
Each Unit will consist of one common share of Northquest and one-half of one
share purchase warrant, each whole such share purchase warrant entitling the
holder thereof to acquire one additional common share of Northquest for a period
of 24 months at an exercise price of $1.65 per share. Each FT Unit will consist
of one "flow through" common share of Northquest and one-half of one share
purchase warrant, each whole such share purchase warrant entitling the holder
thereof to acquire one additional common share of Northquest (which shall not be
a "flow through share") for a period of 24 months at an exercise price of $1.50
per share. 


Northquest has also granted to NCP an over-allotment option to increase the size
of the Offering to issue additional Units and FT Units in any combination to
raise additional gross proceeds of $900,000, exercisable in whole or in part at
any time up to the closing date. NCP will receive a cash commission and broker
warrants as compensation for acting as agent in the Offering. 


Closing of the Offering is anticipated to occur on or about April 29, 2011. The
Offering remains subject to the approval of the TSX Venture Exchange. 


Forward Looking Statements - Certain information set forth in this news release
may contain forward-looking statements that involve substantial known and
unknown risks and uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the control of
Northquest, including, but not limited to the impact of general economic
conditions, industry conditions, volatility of commodity prices, currency
fluctuations, dependence upon regulatory approvals, and the availability of
financing. Readers are cautioned that the assumptions used in the preparation of
such information, although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be placed on
forward-looking statements.