Great Quest Corporate Update-Pursuing Routes to Restoring Value

Great Quest Metals Ltd (the "Company") (TSX VENTURE:GQ)(FRANKFURT:GQM) is
pleased to provide the following update for shareholders and interested
stakeholders. The Company has been reviewing its projects and objectives in
recent months in light of evolving market conditions and changes in management. 


Great Quest Gold Concession 

The Company completed an initial drill program in March 2011 on its wholly-owned
Sanoukou gold property, located in southwestern Mali. The exploration program
tested some of the mineralized dykes and subsequently received encouraging
results. Since that initial work the Company has noted a dramatic increase in
orpailleur activity (artisanal gold mining) on the property. Local hand miners
have exposed new structures and developed small open pits going to 10-15 metres
deep. This could indicate important gold anomalies. The Company is exploring
options to develop this property in light of limited capital and hostile equity
markets. Options include toll milling of orpailleurs' ore and joint venture
agreements. In July 2010, the Company reported results of grab samples taken
from orpailleur waste piles along a number of identified structures, the best of
which were 16 samples averaging 3.56 grams per tonne equivalent (g/t) over 2,086
metres (m), 4 samples averaging 10.61 g/t gold over 978 m and 31 samples
averaging 2.25 g/t over 2,474 m.


Direct Application Phosphate Demonstrations 

In preparation for Mali's planting season in September-October, following the
rainy season, Great Quest is collaborating with the Institut d'Economie Rurale,
Mali's main institution in agricultural research, and the Malian Ministry of
Agriculture, to develop a fertilizer that will be used on a test plantation.
Having a successful demonstration plantation will allow the Company's granulated
direct application phosphate fertilizer to get recommended for broad commercial
consumption in Mali. These tests will validate and augment the market
penetration assumptions of our preliminary economic assessment (Press releases
December 18, 2012 and February 7, 2013).


Semi-Commercial Phosphate Production Facility 

To accelerate the development of our Tilemsi phosphate project, the Company is
pursuing the development of a pilot plant in Segou, a city located in an
agricultural region, 200 km northwest of Bamako, Mali's capital. The objectives
are to produce enough granulated fertilizers to supply local blenders, large
scale farmers and agricultural development organizations, and to develop the
market ahead of planned full-scale operations. The Company is in the process of
receiving tenders from international engineering procurement and construction
groups, targeting 1,000-2,000 tonnes of phosphate granules per month. Great
Quest's management expect the plant will generate a small operating profit that
could fund continued development of the Tilemsi phosphate project. Segou is
located in south-central Mali, well outside any areas of instability, allowing
for immediate investment.


Malian Political Situation 

Mali's interim government has called for presidential elections in July. An
elected government could initiate the national reconciliation process, restore
constitutional order and security throughout the country, and allow
international aid to resume. Pockets of resistance are being eliminated in
remote parts of Mali's northern region, by French and African troops. It appears
that Malian authority and services are gradually returning to northern Mali's
main cities, including Gao, the major city close to our project. Last week
France's parliament voted to extend its military mission to ensure a smooth
transition to Malian forces. France will start scaling down its current 4,000
troops to 1,000 by the end of the year. On April 25th, the United Nations
Security Council approved the creation of a 12,600-strong peacekeeping force for
Mali to be deployed in July.


Jed Richardson, Interim President and CEO, commented, "The Company is committed
to pursue strategic business alternatives to accelerate paths to cash flow, and
secure the Company's position and viable long-term agricultural business in
Mali. The Tilemsi project is seen by many as ideally suited and located to
provide much needed economic opportunities in northern Mali, addressing issues
of food security and regional development. Our belief is, in coming months, this
will bring prominence to our project and restore value for our shareholders."


About Great Quest 

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 1,206 km2 in eastern Mali. To date, the Company has
published two resource reports with the total inferred resource now standing at
50 million tonnes at an average grade of 24.3% P2O5 (at 10% cut-off). Phosphate
rock from the Tilemsi Project displayed good characteristics for effective
beneficiation with assays ranging between 25% and 38% P2O5, and low level of
contaminants, especially Cadmium. The Company also holds several gold
concessions in the productive Birimian gold belt, in southwestern Mali. 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 - Interim President, CEO & Director

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.
Candice Font
Investor Relations
+1 604-689-2882 or Toll Free: 1 877-325-3838
www.greatquest.com
Great Quest Fertilizer (TSXV:GQ)
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