VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 2, 2011) - Silver Quest Resources (TSX VENTURE:SQI) ("Silver Quest" or "the Company") is pleased to announce that a National Instrument 43-101 compliant resource estimate has been prepared on the Davidson Property, located 100 km south of Vanderhoof in central British Columbia, Canada. The Davidson property covers the northern portion of Richfield Ventures Corp.'s ("Richfield") (TSX.V:RVC) Blackwater Gold Project. Richfield has earned a 75% interest in the Davidson Property and acts as operator of the project.

Richfield has reported the results of an independent resource estimate for the Davidson Property (see Richfield News Release dated March 2, 2011). At a cut-off grade of 0.40 grams per tonne (g/t) gold, the Davidson Property is estimated to contain 331,000 tonnes at an average grade of 0.92 g/t gold, for 10,000 ounces of gold in the Indicated category. The Property also contains 46.27 million tonnes at an average grade of 0.92 g/t gold, for 1.36 million ounces of gold in the Inferred category. The table below summarizes the parties' respective interests in the Davidson Property resource estimate:

Davidson Property Resource Estimate (0.4 g/t Gold Cut-off grade)

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                              Indicated                   Inferred         

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                       Tonnes  Gold    Contained  Tonnes  Gold    Contained

                        000's   g/t  Gold ounces   000's   g/t  Gold ounces

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Richfield (75%)           248  0.92        7,500  34,702  0.92    1,020,000

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Silver Quest (25%)         83  0.92        2,500  11,567  0.92      340,000

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Davidson Property                                                           

 Total                    331  0.92       10,000  46,269  0.92    1,360,000

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Richfield also reported an Indicated and Inferred resource estimate covering the entire Blackwater Gold Project which includes the Davidson property as well as Richfield's 100% owned properties to the south. The Blackwater Gold Project at a cut-off grade of 0.40 g/t gold, has an estimated Indicated resource of 53.46 million tonnes at an average grade of 1.06 g/t gold containing 1.83 million ounces gold, and an additional 75.45 million tonnes at an average grade of 0.96 g/t gold containing 2.34 million ounces gold in the Inferred category. Initial metallurgical test work on samples taken from the Davidson and adjoining properties has indicated an average of 92% gold recovery using conventional whole ore direct cyanidation (see Richfield news release dated November 22, 2010).

The Indicated and Inferred mineral resource estimate has been prepared in compliance with the standards of NI 43-101 Mr. Ronald Simpson, P.Geo, President of Geosim Services Inc. Mr. Simpson acted as the Qualified Person, as defined in NI 43-101 and is independent of the Company. The NI 43-101 report will be finalized and filed on SEDAR within 45 days of the date of this news release. Mr. Simpson has reviewed and approved the technical information in this news release.

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

SILVER QUEST RESOURCES LTD.

Randy Turner, President