Annual General Meeting & Grant of Options
VANCOUVER, BC -- Willis W. Osborne, President of Great Quest Metals Ltd. (TSXV: GQ; Frankfurt: GQM), reports that the Company held its Annual General Meeting on May 25, 2007, at which time Willis W. Osborne, Victor J.E. Jones, Scott B. Hean, Mahamadou Keita, and Robert Veitch were elected to the Company's board of directors. The following persons were appointed as officers: Victor J.E. Jones as Chairman and Chief Financial Officer, Willis W. Osborne as President and Chief Executive Officer, Mahamadou Keita as Vice President, Exploration and Jennifer Nestoruk as Secretary. The Company's Stock Option Plan received the approval of the shareholders, pursuant to which the directors may, from time to time, authorize the issuance of options to directors, officers, employees and service providers of the Company and its subsidiaries to a maximum of 10% of the issued and outstanding common shares at the time of the grant, with a maximum of 5% of the Company's issued and outstanding shares being reserved to any one person on a yearly basis.
In further news, Great Quest is granting an option to a director to purchase up to 100,000 common shares of the Company at $0.64 per share, for a term of five years. This stock option grant is subject to the Company's Stock Option Plan and regulatory approval.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST METALS LTD.
"Willis W. Osborne"
Willis W. Osborne
Jamie Mathers, Ascenta Capital Partners Inc.
T: 604.684.4743 ext. 236