SQI Silver Quest Resources Ltd

Silver Quest Resources (TSX VENTURE:SQI) ("Silver Quest" or "the Company") is
pleased to report that the Davidson Joint Venture Management Committee has
approved a budget covering work to be completed over the next six to nine
months. The planned activities include drilling on the Davidson Joint Venture
Claims (the "Claims"), together with the preparation of a Preliminary Economic
Assessment Report ("PEA") and work on certain infrastructure items that will
benefit both the Claims and the overall Blackwater Project. Silver Quest's share
of the budget will be approximately $5.1 million.


A 26,250 metre diamond drill program comprised of 75 drill holes designed to
expand the resources on the Claims has commenced. One drill rig is currently
on-site with five rigs planned to be drilling on the Claims by the end of
September. This drilling is anticipated to be completed by year-end.


This drill program will be a combination of in-fill and step-out drill holes
designed to delineate resources for use in the PEA Report. An updated resource
estimate is targeted for early 2012 and the PEA report is scheduled for
completion in mid-2012. This drill program is a follow-on to the 20,000 metre
drilling program completed on the Claims during the Second Quarter (for drill
results, see news releases dated April 19, 2011, May 10, 2011, June 27, 2011 and
August 9, 2011).


The Davidson Joint Venture Claims are located approximately 110 kilometres
southwest of Vanderhoof, BC. Silver Quest holds a 25% joint venture interest in
the Claims. New Gold Inc. holds a 75% joint venture interest in the Claims and a
100% interest in the overall Blackwater Project, and is the Operator of the
Davidson Joint Venture. Silver Quest funds 25% of the drilling and related costs
incurred on the Claims, and currently funds 12.5% of those expenditures that are
for the benefit of the Claims and the overall Blackwater Project.


David Pawliuk, P. Geo., Vice-President Exploration for Silver Quest is the
Qualified Person, as defined by NI 43-101, for the Claims and has reviewed the
technical information in this release.


SILVER QUEST RESOURCES LTD.

Randy Turner, President

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