VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 6, 2010) - Silver Quest Resources Ltd. (TSX VENTURE:SQI) (the "Company") is pleased to report assay results for diamond drill holes D-10-116 and D-10-118 recently completed on the Capoose Project ("Capoose") located in north central British Columbia. Drill holes D-10-116 and D-10-118 have confirmed that precious and base metal mineralization extends approximately 100 metres (m) west of the eastern arm of the deposit. The current NI 43-101 inferred mineral resource is 1.32 million ounces of gold equivalent or 53 million tonnes at a grade of 0.77 grams per tonne (g/t) gold equivalent, including 699,999 ounces of gold at a grade of 0.41 g/t and 41.1 million ounces of silver at a grade of 23.93 g/t (see news release dated March 4, 2010). Mineralization remains open in all directions and at depth. Capoose is located 185 km southwest of Prince George, British Columbia. For further details and property maps, please visit the Company's website www.silverquest.ca.

Drill holes D-10-116 and D-10-118 were designed to test the extent of mineralization on the west side of the eastern arm of the deposit. These two holes were drilled to the northeast at minus 70 degrees and to depths of 301 m and 252 m respectively.

Significant Gold and Silver Assay Intercepts from D-10-116 and D-10-118

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                                                                       Gold
                                                                 Equivalent
Drill Hole From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)        (g/t)
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D-10-116     215.0  279.0         64.0       0.25        54.85         1.07
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including    215.0  256.0         41.0       0.36        76.00         1.50
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including    228.6  234.0          5.4       1.04       237.65         4.60
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D-10-118       4.5   68.0         63.5       0.31        17.17         0.56
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including     22.0   30.0          8.0       0.80        20.70         1.11
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D-10-118     201.0  205.0          4.0       0.35         9.05         0.49
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D-10-118     226.0  232.0          6.0       0.36        14.40         0.57
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(i) Gold Equivalent cut-off grade of 0.41 g/t and a minimum interval length
    of 4 m. Gold equivalent (AuEq) is calculated as the sum of the gold
    content plus 0.015 times the silver content, based upon prices of
    US$1025/oz. for gold and US$15.50/oz. for silver, which approximate the
    average prices for these metals over the last two years. (Note: total
    contained AuEq values may not add exactly because of rounding). Interval
    values represent drill intersection length and may not represent true
    width.

Drill hole D-10-116 also exhibited multiple semi-massive sulphide bands each approximately 2 to 3 cm wide. These bands generally indicate elevated levels of base metals.

Significant Zinc Assay Intercepts from D-10-116

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Drill Hole   From (m)     To (m)     Interval (m)      Zinc (%)
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D-10-116        12.0       38.0             26.0          0.36
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including       18.0       26.0              8.0          0.44
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D-10-116        60.0       68.0              8.0          0.41
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D-10-116        80.0       90.6             10.6          0.39
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D-10-116       224.0      229.1              5.1          0.82
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D-10-116       252.3      273.2             20.9          0.35
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(i) Zinc cut-off grade of 0.30% and a minimum interval length of 4 m.
    Interval values represent drill intersection length and may not
    represent true width.

A total of 26 drill holes have been completed at Capoose this year. Pending assays will be reported as they are received by the Company.

Drill core analysis and assaying is being conducted by Eco Tech Laboratory in Kamloops, BC, which is an International Standard ISO 9001:2000-certified laboratory. The core samples were analyzed using a 28-element ICPMS package with a 30-gm fire assay with AA finish for over limit (plus 1.0 g/t) gold, (plus 30 g/t) silver and (plus 10,000 g/t) zinc concentrations. The Company has implemented a quality assurance and quality control program to ensure that the sampling and analysis of all samples is conducted in accordance with the best possible practices.

David Pawliuk, P.Geo., Vice President Exploration for Silver Quest is the Qualified Person, as defined by National Instrument 43-101 and supervised the preparation of the technical information in this release.

SILVER QUEST RESOURCES LTD.

Randy Turner, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:
        Silver Quest Resources Ltd.
        Investor Relations
        604-687-3959
        Fax: 604-687-1448(FAX)
        info@silverquest.ca
		www.silverquest.ca

Source: Silver Quest Resources Ltd.