Conquest Closes Transactions With Detour Gold on Properties Adjacent to Detour Lake Gold Project

Conquest Resources Limited (TSX VENTURE:CQR) announces that it has closed
previously announced transactions with Detour Gold Corporation ("Detour Gold")
and with NVI Mining Ltd. ("NVI"), an indirect wholly-owned subsidiary of
Breakwater Resources Ltd. ("Breakwater") relating to Conquest's Aurora and
Sunday Lake properties located in the Detour Lake area of northeastern Ontario
adjacent to the Detour Lake Gold Project Pursuant to these transactions Conquest
has 




--  acquired from NVI the remaining 40% interest that it did not already own
    in the Aurora and Sunday Lake properties, together with NVI's 2% net
    smelter royalty interest in such properties, for $1.0 million which was
    satisfied through the payment by Conquest of $500,000 in cash and the
    issuance to NVI (Breakwater) of 3,125,000 shares of Conquest; and; 
    
--  sold to Detour Gold a 100% interest in the Aurora Property for $2.0
    million in cash and 100,000 shares of Detour Gold and has granted Detour
    Gold an option to acquire a 50% joint venture interest in Sunday Lake
    Property by incurring $1.0 million in exploration expenditures on the
    Sunday Lake Property over the next two years with a minimum of $500,000
    prior to September 30, 2011.  
    



The Sunday Lake Property lies immediately east of Detour Gold's Detour Lake
Project, along the eastern extension of the Sunday Lake Deformation Zone. The
joint venture option on the Sunday Lake Claims will allow Detour Gold to further
expand its interest in what is believed to be a prospective area of this
relatively under-explored portion of the Abitibi Greenstone Belt.


The Aurora Property lies south of Detour Gold's Detour Lake Project. Detour Gold
is acquiring the Aurora Property to accommodate the infrastructure requirements
for the development of its Detour Lake mine and to further expand its regional
exploration program.


The Aurora Property and the Sunday Lake Property each remain subject to a 7.5%
net profits interest held by Prism Resources Inc. which, in the case of the
Aurora Property, has been assumed by Detour Gold.


COMMENT 

"We are very pleased to have concluded these transactions with Breakwater and
Detour Gold which will be beneficial for all parties," said John Kearney,
Chairman of Conquest. "The deals have resulted in a transaction value to
Conquest of approximately $5.0 million of which $1 million offsets the
acquisition by Conquest from Breakwater of the outstanding 40% interest and 2%
royalty interest in the properties. We look forward to working with Detour Gold,
with its expertise and extensive geological knowledge and understanding of the
area, to further explore the Sunday Lake Property." added Mr. Kearney. 


About Detour Gold

Detour Gold is a Canadian gold exploration and development company whose primary
focus is to advance the development of its flagship Detour Lake gold project
located in northeastern Ontario towards production. 


ABOUT CONQUEST 

Conquest is exploring several gold projects in Ontario. These include the
Alexander Gold Project at Red Lake; the Aurora and Sunday Lake properties at
Detour Lake; the King Bay Gold Project at Sturgeon Lake (60% interest); and the
Smith Lake Gold Project at Missanabie. 


There are 86,838,637 shares of Conquest issued and outstanding after giving
effect to these transactions.


This news release may include certain "forward-looking statements". All
statements other than statements of historical fact, included in this release,
including, without limitation, statements regarding potential mineralization,
resources and reserves, exploration results, and future plans and objectives of
Conquest, are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual
results to differ materially from Conquest's expectations are exploration risks
detailed herein and from time to time in the filings made by Conquest with
securities regulators.