Silver Quest Acquires WIT Gold Property, Yukon

Silver Quest Resources (TSX VENTURE:SQI) ("Silver Quest" or "the Company") is
pleased to announce that it has entered into an option agreement with Bullrun
Prospecting Incorporated, a private company controlled by Rauni Malhi and Paul
Dadwal, (the "Vendors") in an arm's length transaction to acquire a 100%
interest in 304 quartz mineral claims covering approximately 6,340 hectares
located in the central Yukon, approximately 30 kilometres north of Keno City,
known as the WIT property (the "Property").


Under the terms of the agreement, the Company can acquire a 100% working
interest in the Property by making aggregate cash payments of $75,000 and
issuing an aggregate of 600,000 common shares to the Vendors over a three year
period. 


The Vendors have retained a 2% net smelter return ("NSR") royalty on the
Property, with the Company having the right to buy-back one-half of the royalty
for a cash payment of $1,000,000 at any time after exercising the option.


The option agreement is subject to regulatory acceptance. All securities issued
pursuant to the option agreement will be subject to a four month hold period
trading restriction.


The WIT claims cover an area of Carboniferous age Keno Hill Quartzite underlain
by granitic schist. These rock units have undergone regional-scale folding, and
also have been intruded by prospective volcanic rocks. The WIT claims area is
drained by five streams. Geochemical stream sediment samples from these
drainages contain anomalous metal concentrations: up to 23 parts per billion
(ppb) gold, 7.4 parts per million (ppm) silver, 40 ppm tungsten, 210 ppm copper
and up to 640 ppm zinc. 


Property-scale geological mapping and geochemical sampling are planned for the
2011 exploration program.


David Pawliuk, P. Geo., Vice-President Exploration for Silver Quest is the
Qualified Person, as defined by NI 43-101, for the property and has reviewed the
technical information in this release.


SILVER QUEST RESOURCES LTD.

Randy Turner, President

Silver Quest Resources Ltd (TSXV:SQI)
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