|October 18, 2005|
Great Quest Announces a New Investor Relations Agreement; $220,000 Private Placement Completed
|VANCOUVER, BC - Willis W. Osborne, President of Great Quest Metals Ltd. (TSX Venture Exchange: GQ), is pleased to announce the completion of an Investor Relations Agreement with George Butterworth. Mr. Butterworth will work for a minimum of three months for Great Quest during which he will be interfacing with shareholders and potential investors to inform them of the Company's activities and to explain the potential of the Company's projects. For his efforts, Mr. Butterworth will be receiving $1,500 per month from the Company. After the initial three month period, either Great Quest or Mr. Butterworth can cancel the arrangement at any time.|
Mr. Butterworth graduated from the University of Manitoba in 1966 with degrees in English and Economics. He worked in sales with IBM for 11 years and then he founded and worked for First Reserve Securities for 6 years where he raised funds for flow-through financings and tax shelters. He has worked in an administration and investor relations capacity for small cap companies for several years.
Great Quest also is announcing the completion of the $220,000, 400,000 unit, private placement announced on July 26, 2005. The private placement was done at $0.55 per unit with each unit consisting of one common share of the Company's capital stock and one half of a transferable share purchase warrant. Each full warrant entitles the holder to purchase one additional share at $0.65 for a two year period. A $2,860 commission was paid for a portion of the private placement and 9,750 broker's warrants were issued.
ON BEHALF OF THE BOARD OF DIRECTORS
"Willis W. Osborne"
Willis W. Osborne, President
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