VANCOUVER, BC -- Willis W. Osborne, President of Great Quest Metals Ltd. (TSXV: GQ; Frankfurt: GQM), would like to inform investors of a temporary cease trade order on the Company's stock by the BC Securities Commission as a result of a delay in filing the Company's audited 2006 year-end financial statements. The audit has been substantially completed, but there has been a late response in sending supporting documents from Mali. This has been exacerbated by what amounted to a 5-day weekend in Mali and delivery time of essentially a week.
The documents are in transit and once they have been received and examined, the audit will be completed; the financial statements will be filed; and the Company will be reinstated for trading.
In the meanwhile, the Company's projects will be unaffected by the cease trade. Drilling continues on the Kenieba concessions, western Mali, West Africa. Great Quest has completed the current phase of drilling on its feature Djambaye 2 gold zone and plans next to test the Sansanto and the Djambaye 3 gold zones. These tests will be followed by drilling the Djambaye 1 gold zone. So far 24 drill holes have been completed on the Djambaye 2 zone during the 2007 program. The Company will be reporting on the results of either 3 or 6 holes, depending on the availability of results, before the Company's stock resumes trading.
ON BEHALF OF THE BOARD OF DIRECTORS
"Willis W. Osborne"
Willis W. Osborne
For additional information please contact:
Investor Relations: Great Quest Metals Ltd.
George Butterworth: +1 604-689-2882
Toll Free: 1 877-325-3838
Ascenta Capital Partners Inc.
Jamie Mathers: 604-684-4743, ext 236
Toll Free: 866-684-4209
The TSX Venture Exchange has neither approved nor disapproved the information enclosed in this release.