Company Information for Great Quest Metals Ltd

TSX.V-GQ; BERLIN-GQM

www.greatquest.com

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TSX.V; GQ

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Company Statement

Great Quest Metals Ltd. is a Vancouver-based gold company focused on the acquisition, exploration and development of gold prospects in Mali, West Africa.

The company began focusing on Mali in 1998 and now holds concessions covering 350 square kilometres within a 25-kilometre by 200-kilometre belt in western Mali that hosts 30 million ounces of gold resources.

Great Quest aims to enhance shareholder value through the discovery of mineral deposits on carefully chosen, quality properties or concessions while at the same time improving the region in which it operates through policies of local hiring and environmentally-friendly exploration and development practices.

Current Operations

MALI
Mali is a stable, democratic country located in West Africa. Great Quest has the benefit of local expertise in the person of Mamadou Keita, one of the company's directors. Mr. Keita's has over 25 years of senior international mineral exploration experience that includes his role as chief geologist of the Kenieba Region for the Direction Nationale de la Geologie et des Mines of the Malian Ministere des Mines.

Over a period of eight years, Great Quest has optioned and currently holds 14 gold concessions in western Mali covering a total land area of 339 sq km. These concessions all lie within a mineral-rich 25- by 200-kilometre belt where 30 million ounces of gold resources have been discovered. Western Mali is considered a very favorable area for the discovery of additional gold deposits.

Great Quest's northern properties, the Sepola concession (108 sq km) and Bourdala gold concessions (86 sq km), are located approximately 45 kilometres southeast of the Sadiola gold mine. South of these concessions lie the Baroya gold concesion (8 sq km), the Kenieba gold concession (32 sq km) and the Manankoto gold concession (105 sq km). Great Quest also holds the Kenieti diamond concession in western Mali.

Kenieba-Baroya
The Kenieba concession is currently the feature property of Great Quest. The Kenieba and Baroya concessions share a 12.5 kilometre border with Nevsun Resources' Tabakoto and Segala concessions which cover the Tabakoto gold mine and Segala gold deposit. There is an old adage stating that the best place to look for one mine is in close proximity to another mine.

The Kenieba gold concession covers a variety of gold occurrences. These range from gold in quartz veins associated with rhyodacite and/or diorite dykes, to gold in quartz-breccia-quartz-vein zones, to gold in quartz vein systems.

Bourdala
The feature concession within the Bourdala concessions is the TD concession, located in the southwestern part of the block. It is an area of extensive historical orpaillage (the local form of hand mining) dating back 100 to 200 years. It is also an area of considerable recent work, with over 1,500 female orpailleurs active throughout the summer of 2006. The female orpailleurs work the surface terrain, whereas the men dig pits, to search for and recover gold. The women in this area have so far worked an area of nearly 50 by 340 metres.
North of the area of orpaillage is a diorite dyke approximately five metres wide that strikes north-south with the orpaillage covering its projection to the south. A large, very old pit occurs 15 metres west of this dyke, just north of the orpaillage. A 2003 drill hole, 02TD, intersected 5.5 metres of 2.91 g/t gold followed by 7.0 metres of 4.34 g/t gold directly below the pit.

A small pit was dug in this area during the 2006 program. A sample of diorite from its bottom assayed 438 ppb gold and three samples of schist, or siltstone, averaged 1.178 ppb or 1.18 g/t gold.

There is another area of old (100 to 150 years) orpaillage 250 metres east of this location where some highly weathered fragments of rhyodacite assaying 200 ppb gold have been discovered.

Because of the association of gold with rhyodacite and diorite in the Kenieba concessions, this area is clearly of further interest. A second area of interest is the Bourdala Sud Ouest zone where a 2003 drill hole, 06DM, intersected 10.0 metres of 3.92 g/t gold followed by 5.0 metres of 8.63 g/t gold.

A program of mapping, sampling and pitting currently underway in the TD concession is expected to conclude in October 2006. Drilling, if warranted, will begin in 2007.

Manakoto
The 105 sq km Manankoto concession, located 10 kilometres southwest of Kenieba, is Great Quest's most recent acquisition. Its main feature is a 100- to 300-metre-wide diorite dyke that was traced for 5.5 kilometres across the region. Anomalous gold from 23 to 1,884 parts per billion was picked up in soils in and along the dyke on 10 of 13 lines. The soil samples were taken at 200-metre intervals along east-west lines 400 metres apart. Diorite is thought to be important in the region because it is associated with the gold in the Sadiola, Yatela and Tabakoto mines as well as the Segala deposit. One sample from an old pit in the Manankoto diorite assayed 13.03 g/t gold.

A second area of soils anomalous in gold occurs west of this dyke. This zone was traced for more than 4.5 kilometres across 12 soil lines with one to four anomalous soils per line along the trend. The anomalous gold ranges from 20 to 282 ppb gold. The anomolous soils overlie a dark quartzite with disseminated sulfides and quartz veins.

A program of mapping, pitting and sampling in the Manankoto concession is planned for 2007.

Sepola
The Sepola concession is west of and adjacent to the Bourdala concessions. This concession is important for several reasons:
It could cover a possible extension of the Bourdala Sud Ouest zone

Three areas of granitic rock - a possible source of all or some of the gold in western Mali - are found here

Mineral resources of gold are said to occur here in three areas
A total of 90,000 metres of reverse circulation drilling has been completed on the Sepola concession and Great Quest plans to review the drill results to confirm the possible mineral resources.

Kenieti Diamond Concession
Great Quest also holds the 2,149 sq km Kenieti diamond concession in western Mali. The concession covers three known kimberlite pipes: the 0.6 hectare Sakola, 3.0 hectare Dabora and the 5.0 hectare Orange River.

A 0.05 carat diamond was previously recovered from the Orange River kimberlite pipe and other diamonds have previously been discovered in alluvium in four separate locations within this concession, including five in one of the areas. All of the diamonds have been documented by the Bureau de Recherche Geologique et Minieres, a French Government agency.

The Kenieti concession covers part of the West Africa diamond corridor, which passes through western Mali. In western Mali, seven of the 30 known kimberlites are diamondiferous. Of the 95 diamonds previously found and documented in the district before 2006, from both alluvial sources and bulk sampling of kimberlite pipes, 19 were microdiamonds and 74 were macrodiamonds. Twenty-one of these macrodiamonds were one carat or greater. Eleven of the macrodiamonds ranged from 30 to 232 carats.

Great Quest's initial program In the Kenieti concession will consist of testing areas of small airborne-magnetic anomalies for diamond indicator minerals in order to locate possible kimberlite pipes.

BRITISH COLUMBIA
Great Quest holds a 100% interest in the 108-unit copper-gold-molybdenum Taseko Property located 225 kilometres north of Vancouver, British COlumbia.

Geographical Spread

Mali: A total of 14 concessions, gold and diamonds.
British Columbia: The gold-copper-molybdenum Taseko property.

Board of Directors and Key Management

Willis W. Osborne, MSc. Geol	(President and Director)
Victor J. E. Jones MBA	(Director)
Mahamadou Keita MSc. Geol	(Director)
Robert Veitch	(Director)
Jennifer Nestoruk	(Corporate Secretary)

Company Address

Suite 515
475 Howe Street
Vancouver, British Columbia, Cananda, V6C 2B3


Telephone:	(604) 689-2882
Facsimile:	(604) 684-5854
Email:	info[at]greatquest.com
Website:	http://www.greatquest.com

Capital

Shares outstanding* (basic): 18.5 million
Shares Fully Diluted: 21.3 million

Annual General Meeting

June

Year End

December 31

Major Shareholders

Company Directors and Officers own 19.6% of the issued shares.

Most Recent Statement

05/08/08 - Underground Infill Drilling at the Hollister Project Continues to Confirm Deposit Prospectivity
08/07/08 - Annual General Meeting - $360,000 Private Placement Closes
02/07/08 - Great Quest'S 2008 Drill Program On The Taseko Property To Start By July 7, 2008
08/04/08 - Update on the Kenieba Area
08/02/08 - Great Quest Strengthens its Land Position in the Kenieba Area in Mali, West Africa
28/01/08 - Great Quest Increases NI 43-101 Mineral Resource on Kenieba Concession to 324,000 Ounces of Gold

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