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-- 2.44 grams gold per tonne over 7.00 metres at the Pistol Porphyry Target -- 2.00 grams gold per tonne over 6.17 metres at the Sako Target TORONTO, Dec. 23, 2011 /CNW/ - Northquest Ltd. (TSX.V-NQ) ("Northquest" or "the Company") announces that it has finally received all of the assays from 17 drill holes totalling 2,517 metres which tested three target areas of the Pistol Bay Gold Project, Nunavut, Canada. The project consists of approximately 1,100 square kilometres of mineral rights located approximately 60 kilometres south of Rankin Inlet, Nunavut. The Pistol Bay Gold Project is within a mineralized corridor of rocks in an analogous geological setting to the Meliadine Gold Project of Agnico Eagle Mines located 80 kilometres to the north of the Pistol Bay Gold Project. An airborne magnetometer survey of the Pistol Bay Gold Project was completed in April, 2011, ground geological exploration work, consisting of mapping, sampling, ground magnetometer surveying, was completed from July 1 to August 15(th), 2011, and diamond drilling commenced on August 12, 2011 and terminated on September 23, 2011. Summary of Diamond Drilling Results Three target areas, known as the Pistol Porphyry, Cooey, and Sako targets were tested by diamond drilling. Remarkably, these are the first holes ever drilled at these targets. The results of the drilling are summarized below and listed in detail in Tables 1 to 3 at the end of this press release. Pistol Porphyry Target: 2.44 grams gold per tonne over 7.0 metres Six drill holes totalling 1055.73 metres were drilled at the Pistol Porphyry target. The Pistol Porphyry target is a hydrothermally altered feldspar porphyry containing disseminated and stringer pyrite within pseudobreccia and heterolithic diatreme breccia. The mineralized zone has been traced for 700 metres on surface and has an apparent true width of up to 30 metres. The drill holes tested a 150 metre strike length of the mineralized zone. The best intersection was 2.44 grams gold per tonne over 7.0 metres in Hole 2. In addition, there were 15 other intersections containing greater than 1 gram gold per tonne over at least 1.0 metre along strike of the zone intersected in Hole 2. The detailed results are listed in Table 1. The highest grade part of the mineralized zone in Hole 2 is contained within a very large envelope of mineralized porphyry grading 0.53 grams gold per tonne over 51.3 metres. This very large body of lower grade rock was intersected in the other five drill holes as well. A rigorous interpretation of the geology and continuity of the gold-bearing rock in this target is underway. Cooey Target: 5.11 grams gold per tonne over 1.0 metre Seven holes totalling 828.6 metres were drilled at the Cooey target. The Cooey target consists of a single outcrop of deformed iron formation from which samples collected by the Company contain several grams gold per tonne. The magnetic survey indicates that this iron formation outcrop is within an area of deformed and dismembered iron formation over a strike length of several kilometres. The drill holes tested the mineralized outcrop and several covered magnetic anomalies over a strike length of 1.5 kilometres. In spite of the fact that some core samples contained up to 5.11 grams gold per tonne over 1.0 metre, continuity of mineralization could not be established and no further work is currently planned in this area. The detailed results from the Cooey target are listed in Table 2. Sako Target: 2.00 grams gold per tonne over 6.17 metres Four holes totalling 632.9 metres were drilled at the Sako target. The Sako target consists of several gold-bearing outcrops of deformed iron formation, and pyritic, quartz-sericite schists, within a regionally-extensive shear zone corridor which has a nominal width of 900 metres and a strike length of at least 20 kilometres. Drill Hole 13, a wildcat hole drilled under an outcrop from which a grab sample contained 1.55 grams gold per tonne, intersected 2.00 grams gold per tonne over a core length of 6.17 metres. The other three drill holes at Sako are 500 metres to the northwest of Hole 13. Hole 14 intersected 4.91 grams gold per tonne over 1.00 metre and is probably on strike of the structure intersected in Hole 13. No other holes were drilled at Sako, hence, the mineralized zone intersected in Hole 13, which looks very promising, needs to be further tested by additional drilling down-dip and in all directions. Bazooka Gold Target: High grade gold-bearing surface samples The Bazooka target is 20 kilometres west of the Sako target, within the same deformation corridor, and consists of a single, small outcrop of pyritic, sulphidized iron formation cross cut by numerous, discordant, quartz-pyrite-carbonate veins. The airborne magnetic survey indicates that this small outcrop is within a 4 by 9 kilometre area of intensely-folded iron formation which is covered by overburden. In a previous press release, the Company reported that three grab samples collected from this outcrop contained between 1.58 to 8.07 grams gold per tonne. The results of additional sampling from the Bazooka occurrence are listed below. Because this is a new discovery, this target was not permitted for drilling in 2011, however, the Company intends to complete a ground magnetometer survey and drilling at this target in 2012. Selected grab sample results from the Bazooka target _____________________________________________________________________ |Sample|Au g/t|Description | |______|______|_______________________________________________________| |891110|4.30 |quartz vein with 75% coarse grained pyrite | |______|______|_______________________________________________________| |891111|1.92 |30% pyrite in a 20 cm wide quartz vein | |______|______|_______________________________________________________| |891112|1.18 |as above | |______|______|_______________________________________________________| |891113|11.90 |75% pyrite in a 70 cm wide quartz vein | |______|______|_______________________________________________________| |891114|0.23 |5% pyrite and 1% pyrrhotite in a 20 cm wide quartz vein| |______|______|_______________________________________________________| |891115|0.57 |5% pyrite in a 20 cm wide quartz vein | |______|______|_______________________________________________________| |891116|14.50 |90% pyrite in 20 cm wide quartz vein | |______|______|_______________________________________________________| |891117|trace |Massive magnetite | |______|______|_______________________________________________________| |891118|0.13 |chloritic turbidite | |______|______|_______________________________________________________| |890870|1.58 |sulphidized iron formation with 10% pyrite | |______|______|_______________________________________________________| |890871|1.68 |20 cm wide quartz vein with 15% massive and stringer | | | |pyrite | |______|______|_______________________________________________________| |890872|8.07 |80% pyrite in a 20 cm wide quartz vein within | | | |magnetite-rich iron formation | |______|______|_______________________________________________________| Jon North, President and CEO of the Company stated that " Within 12 months the Pistol Bay gold project has evolved from being a great idea to a project where two out of three drilling targets have been validated with commercially interesting intersections. This is exactly what we set out to do a year ago, and in anticipation of this, we have stored the diamond drill on site so that we can complete Phase 2 drilling at the Pistol Porphyry and Sako targets as soon as possible. In addition, numerous, very high grade surface samples have been collected from the Bazooka target, which we intend to permit for drilling in 2012". Northquest is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of gold and other minerals.  Northquest has 25,290,823 shares outstanding (38,320,035 on a fully diluted basis).  For further information please visit www.northquest.biz. TABLES OF DETAILED DRILLING RESULTS Table 1. Detailed drilling results from the Pistol Porphyry target ____________________________________________________________________ |Hole # |Inclination|From (m)|To (m)|Length (m)|Au g/t|Total length| |_________|___________|________|______|__________|______|____________| |PB-11-1 | -50| 96.12|178.77| 82.60| 0.41| 285.67| |_________|___________|________|______|__________|______|____________| |including| | 110.70|111.70| 1.00| 1.08| | |_________|___________|________|______|__________|______|____________| |and | | 128.70|129.70| 1.00| 2.34| | |_________|___________|________|______|__________|______|____________| |and | | 157.90|159.70| 1.80| 1.27| | |_________|___________|________|______|__________|______|____________| |and | | 160.70|166.70| 6.00| 2.00| | |_________|___________|________|______|__________|______|____________| |and | | 171.70|172.70| 1.00| 2.02| | |_________|___________|________|______|__________|______|____________| |and | | 175.68|178.77| 3.09| 1.33| | |_________|___________|________|______|__________|______|____________| |PB-11-2 | -50| 71.30|122.60| 51.30| 0.53| 218.59| |_________|___________|________|______|__________|______|____________| |including| | 106.60|107.60| 1.00| 2.87| | |_________|___________|________|______|__________|______|____________| |and | | 113.60|120.60| 7.00| 2.44| | |_________|___________|________|______|__________|______|____________| |PB-11-3 | -50| 3.80| 76.17| 72.37| 0.31| 99.67| |_________|___________|________|______|__________|______|____________| |including| | 46.17| 53.17| 7.00| 1.05| | |_________|___________|________|______|__________|______|____________| |PB-11-4 | -50| 65.23|127.10| 61.87| 0.20| 127.10| |_________|___________|________|______|__________|______|____________| |including| | 72.23| 75.23| 3.00| 1.16| | |_________|___________|________|______|__________|______|____________| |PB-11-5 | -50| 35.17| 46.80| 11.63| 0.49| 139.30| |_________|___________|________|______|__________|______|____________| |including| | 40.80| 43.80| 3.00| 1.39| | |_________|___________|________|______|__________|______|____________| |and | | 87.80| 99.99| 11.19| 0.84| | |_________|___________|________|______|__________|______|____________| |including| | 88.80| 92.49| 3.69| 1.89| | |_________|___________|________|______|__________|______|____________| |and | | 98.49| 99.99| 1.50| 1.49| | |_________|___________|________|______|__________|______|____________| |PB-11-17 | -85| 14.47|140.28| 125.81| 0.27| 185.4| |_________|___________|________|______|__________|______|____________| |including| | 19.47| 21.47| 2.00| 1.64| | |_________|___________|________|______|__________|______|____________| |and | | 84.82| 85.82| 1.00| 1.01| | |_________|___________|________|______|__________|______|____________| |and | | 114.19|117.19| 3.00| 1.08| | |_________|___________|________|______|__________|______|____________| |and | | 138.28|140.28| 2.00| 1.35| | |_________|___________|________|______|__________|______|____________| Note: Au g/t means grams of gold per tonne. Selected higher grade intersections listed are based on a 1 g/t cut off grade over an interval of at least 1 metre. Sample intervals reflect drill core length and do not necessarily represent the true width of the mineralized body of rock. Table 2. Detailed drilling results from the Cooey target ___________________________________________________________________ |Hole # |Inclination|From (m)|To (m)|Length (m)|Au g/t|Total length| |________|___________|________|______|__________|______|____________| |PB-11-6 |-50 | | | | NSV| 69.20| |________|___________|________|______|__________|______|____________| |PB-11-7 |-65 | | | | NSV| 139.00| |________|___________|________|______|__________|______|____________| |PB-11-8 |-50 | 106.04|107.04| 1.00| 5.01| 151.50| |________|___________|________|______|__________|______|____________| |PB-11-9 |-50 | 57.21| 58.21| 1.00| 5.11| 136.30| |________|___________|________|______|__________|______|____________| |PB-11-10|-50 | | | | NSV| 130.20| |________|___________|________|______|__________|______|____________| |PB-11-11|-50 | | | | NSV| 87.50| |________|___________|________|______|__________|______|____________| |PB-11-12|-50 | | | | NSV| 114.90| |________|___________|________|______|__________|______|____________| Table 3. Detailed drilling results from the Sako target ___________________________________________________________________ |Hole # |Inclination|From (m)|To (m)|Length (m)|Au g/t|Total length| |________|___________|________|______|__________|______|____________| |PB-11-13|-50 | 41.32| 47.49| 6.17| 2.00| 175.90| |________|___________|________|______|__________|______|____________| |PB-11-14|-50 | 45.09| 46.59| 1.50| 3.44| 212.00| |________|___________|________|______|__________|______|____________| |and | | 82.04| 83.04| 1.00| 4.91| | |________|___________|________|______|__________|______|____________| |and | | 97.34| 98.34| 1.00| 1.08| | |________|___________|________|______|__________|______|____________| |PB-11-15|-70 | | | | NSV| 121.00| |________|___________|________|______|__________|______|____________| |PB-11-16|-50 | | | | NSV| 124.00| |________|___________|________|______|__________|______|____________| Note: Au g/t means grams of gold per tonne. Sample intervals reflect drill core length and do not necessarily represent the true width of the mineralized body of rock. NSV means no significant values. Rock samples were analyzed by ALS Chemex analytical laboratory in Vancouver, Canada, by ALS method Au-GRA-21 which is fire assay with a gravimetric finish on a 30 gram sample charge.  For analytical quality control, blank samples and commercially prepared and certified gold control standards with a range of grades are inserted at a frequency of one standard for every 10 samples and one blank for every 20 samples. Information in this press release relating to exploration results is based on data collected under the supervision of Dwayne Car, P.Geo., who holds the position of Vice President, Exploration and is a Qualified Person within the meaning of National Instrument 43-101. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These statements relate to future events or future performance and reflect the Company's expectations regarding the future growth, results of operations, business prospects and opportunities.  In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology.  These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, metallurgical test results and that the resource potential will be achieved on exploration projects, currency fluctuations, dependence upon regulatory approvals, political and country risk, and the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.  The Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.     Northquest Ltd. CONTACT: Dr. Jon NorthPresident and Chief Executive OfficerTel. (416) 306-0202Tanya MahadeoInvestor RelationsTel. (416) 306-0486

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