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Press release from Marketwire

Great Quest Metals Ltd.: Tilemsi Phosphate Shows Excellent Potential for Low Cost Direct Application

Monday, April 23, 2012

Great Quest Metals Ltd.: Tilemsi Phosphate Shows Excellent Potential for Low Cost Direct Application09:20 EDT Monday, April 23, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 23, 2012) - Joel Jeangrand, CEO of Great Quest Metals Ltd. (TSX VENTURE:GQ)(FRANKFURT:GQM) ("Great Quest" or the "Company"), is pleased to announce the successful completion of solubility tests carried out on the Tilemsi Phosphate Project in Eastern Mali by MINTEK South Africa and the Company's consultant Gaya Resources Development ("Gaya"). The results from the solubility tests indicated that the phosphate rock from the Project has high potential as direct application fertilizer, as compared to the R.B. Diamond Rock Phosphate Classification. The high solubility of the non-beneficiated phosphate rock indicates the rock could be used as a very low cost phosphate component for high value NPK blends.Acid Solubility Tests on Four Selected Samples and Blended CompositeThe following is a summary of the results obtained from the acid solubility test, which measures how much phosphate is made immediately available to plants when the fertilizer is applied. This is the metric many farmers will use to compare Tilemsi's rock phosphate against high cost fully soluble phosphate fertilizers. Citric and formic solubility tests were conducted on the composite at both ambient temperature and at 30ºC. These mild acids are good indicators of how the fertilizers will behave in the soil because they mimic the acids produced by plant roots to take up nutrients from the soil. Table 3 below summarizes the acid solubility results. Table 3: Acid Solubility Results Summary of the 4 Selected Samples and CompositeSolubility method% of Rock Soluble in% of total P2O5Soluble inHead Sample P2O5Analysis, %Sample2% Citric Acid2% Formic Acid2% Citric Acid2% Formic Acid600316.613.464.151.925.87600516.214.663.257.225.59602918.614. Composite @ ambient temp19.216.971.162.526.97Blended Composite @ 30°c20.617.576.464.826.97The composite sample reported higher solubility in both acid mediums than the individual samples tested. It is also noted that the solubility of the composite sample is higher at 30ºC (76.4% in citric and 64.8% in formic) than at ambient temperature (71.1% in citric and 62.5% formic). This is an important characteristic given the proposed product will be a composite blend of the material. All samples tested show lower solubility in formic acid than in citric acid. The samples with lower P2O5 head grade demonstrated the highest solubility of total P2O5 in both citric and formic acid. Given the high solubility of the total rock higher grade samples may have been impacted by the solution nearing full saturation due to uptake of other components. All of the samples showed an acceptable and high level of solubility. Based on a system proposed by R.B. Diamond, the Company believes that the potential for use of the rock as direct application fertilizer is high. Table 4: Classification of Phosphate Rock for Direct Application by Solubility - R.B. Diamond, 1979.Rock potential% of Rock Soluble in2% Citric acid2% Formic acidHigh> 9.4> 13.0Medium6.7-8.47.0-10.8Low< 6.0< 5.8Solubility tests were also conducted on the granulated product obtained from granulation tests (see Great Quest news released on March 7, 2012). By definition granulation should reduce solubility because it reduces the available surface area for the nutrient to dissolve, however, the results show that granulation does not have a significant effect on the solubility as tested.Table 5: Solubility of the Granulated ProductsSampleParticle size/Temperature% Soluble P2O5 in2% Citric acid2% Formic acidGranulated - 5% KCl-4mm + 1mm68.458.7-1mm67.055.9Granulated - 10% KCl +2.5% Bacteria-4mm + 1mm72.257.0-1mm72.062.0Granulated - 15% Peat-4mm + 1mm64.255.9-1mm64.853.1Granulated - 15% Peat + 2.5% Bacteria-4mm + 1mm64.255.4-1mm68.155.4Ungranulated sampleAmbient temp.71.162.530 deg C76.464.8"We are very excited by the results from the initial processing work conducted by MINTEK and Gaya. The strong solubility test results strengthen management's belief that the Tilemsi Phosphate rock can be used both as a direct application fertilizer and as a component in blended NPK fertilizers. As part of advancing towards a PEA, we are also currently assessing the product mix for the agricultural markets in Mali, other West African countries and export," said Joel Jeangrand, President and CEO of the Company. Qualified Person Jed Diner (M.Sc., P. Geol.) is the Qualified Person responsible in accordance with NI 43-101 for the content, review and approval of this News Release. Mr. Diner completed his M.Sc. in Applied Earth Science at Stanford University and works internationally on mineral exploration and resource development projects. He has consulted on other phosphate projects in Uzbekistan, Peru and Angola.ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST METALS LTD.Joel Jeangrand, President & CEOGreat Quest Metals Ltd. is a Canadian mineral exploration company with assets in Mali, West Africa. The Company is focused on developing the Tilemsi Phosphate Project, encompassing 1206 sq km in eastern Mali. The Company also holds several gold concessions in the productive Birimian gold belt in western Mali. Great Quest is listed on TSX Venture Exchange (GQ), and the Frankfurt Stock Exchange (GQM).12g3-2(b) Exemption #82-3116Standard & Poor's ListedThe statements that are not historical facts and are forward-looking statements involving known and unknown risks and uncertainties could cause actual results to vary materially from the targeted results.FOR FURTHER INFORMATION PLEASE CONTACT: George ButterworthGreat Quest Metals Ltd.Investor Relations604-689-2882 or Toll Free: 877-325-3838604-684-5854 (FAX)info@greatquest.comwww.greatquest.comNeither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.