Great Quest Announces Private Placement

Great Quest Metals Ltd (the "Company") (TSX VENTURE:GQ) (FRANKFURT:GQM) today
announced that it intends to complete a non-brokered private placement of up to
850,000 units at a price of $0.60 per unit for gross proceeds of around
$500,000. Each unit will consist of one common share and one common share
purchase warrant. Each common share purchase warrant will be exercisable for one
common share at a price of $0.80 per share for a period of three years from the
date of issue, subject to the Company's right to accelerate the expiry of the
warrants if the daily volume weighted average trading price of the common shares
of the Company on the TSX Venture Exchange is equal to, or exceeds $1.20 for a
period of 20 consecutive trading days during the term of the warrant.


The terms and completion of the private placement are subject to TSX Venture
Exchange approval. The Company may pay finder's fees in connection with the
private placement. The net proceeds from the placement will be used by the
Company for operations and general working capital purposes.


About Great Quest

Great Quest Metals Ltd. is a Canadian mineral exploration company focused on the
development of African agricultural mineral projects for local production of
farm ready fertilizers. The Company's flagship asset is the Tilemsi Phosphate
Project, encompassing 1,206 km2 in northeastern Mali, containing high quality
phosphate resources amenable to use as direct application fertilizer. Great
Quest is listed on the TSX Venture Exchange under the symbol GQ, and the
Frankfurt Stock Exchange under the symbol GQM.


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

Jed Richardson, President, Chief Executive Officer and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release. 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. We seek safe harbor.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Great Quest Metals Ltd.
Jed Richardson
President, Chief Executive Officer and Director
1 416-566-8134