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Great Quest Announces $550,000 Private Placement

By Great Quest | 

VANCOUVER, BC - Willis W. Osborne, President of Great Quest Metals Ltd. (TSX Venture Exchange: GQ), is pleased to announce a private placement of 1,000,000 units at $0.55 per unit for total proceeds of $550,000, subject to regulatory approval. Each unit consists of one common share and one half of a transferable share purchase warrant. Each full warrant entitles the holder to purchase one additional share in the Company's capital stock at $0.65 for a period of two years from closing. All shares issued under this private placement are subject to a four month hold period from closing. The proceeds of the private placement will be used for drilling on the Djambaye 2 gold zone in the Kenieba concession, western Mali, West Africa, concession option payments, administration and investor relations.

Great Quest will be presenting its projects at Booth #819 in the upcoming 2006 Vancouver Resource Investment Conference being held January 22 and 23, 2006.

ON BEHALF OF THE BOARD OF DIRECTORS

"Willis W. Osborne"
Willis W. Osborne,
President