Conquest Resources Limited: GB Zone at Aurora Gold Project Tested at Depth. Returns 4.5GM/T Gold Over 2.25 Metres. Preparation for Winter Drilling Campaign Underway.

TORONTO -- Conquest Resources Limited (TSX VENTURE:CQR) is pleased to announce that it has been advised by joint venture partner Trade Winds Ventures Inc. (TSX VENTURE:TWD) that all assay results have been received from six NQ diamond drill holes totaling 2,326.15 metres completed in August-September on the Aurora gold project near Detour Lake, Ontario. The program was helicopter supported and based at the Detour Lake camp.

The purpose of this summer's program was to evaluate the geometry and style of gold mineralization occurring within the Aurora Project area in preparation for a major winter drilling program. Several large structural breaks occur within the property, most of which have received limited previous drill testing. Previous drilling by Placer Dome has returned values of up to 58.53 g/tonne gold over a 3.00 metre core length.

Results from the limited summer program indicate the GB Zone (southern break) extends to depth with strong potassic alteration and associated sulphides, quartz veining and tourmaline. Several narrow zones of gold mineralization were encountered in two holes (results in Table 1 below), including a further two zones within one of the holes where visible gold mineralization was noted but which was not corroborated by the corresponding assays. Additional sampling of these sections is being reviewed. The upcoming winter drilling program will be focused mainly along the southern break area and untested geophysical anomalies (IP) and gold geochemical anomalies. Permitting and preparation for the proposed 4,000 metre winter NQ diamond drilling program are now underway. The main purpose of this winter's drill program will be to further define and extend known gold bearing zones such as the GB Zone along the southern break and follow-up additional untested geophysical and geochemical anomalies outlined from this summer's MMI soil program.

The more significant assay results from the summer drilling program are as follows in Table 1:

Table 1
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                                             COMPOSITE
DRILL          FROM       TO     INTERVAL        ASSAY   OBSERVATIONS
 HOLE      (Metres) (Metres)  (Metres)(b) (g/tonne Au)   AND COMMENTS
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TWCQ-001
              66.00    67.00          1.0         2.64    0.13 oz/ton
             111.90   113.10         2.25         4.49  over 7.1 feet

TWCQ-002(a)
              262.00  263.00          1.0         1.36
              264.00  265.00          1.0         1.28
              266.00  267.00          1.0         2.63
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(a)Visible gold was observed in two locations 260-261m and 269-270
metre intervals in TWCQ-002. Both samples returned gold values of
less then 1.0 g/t. The original samples and the split core are
currently under review and further sampling has been submitted for
assay.
(b)(Estimated true width is determined to be approximately 75% of
drill interval)

Earlier in the summer, a programme of Mobile Metal Ion (MMI) soil geochemical sampling was carried out over the GB Zone and surrounding area on a 200m x 25m grid. Approximately 700 samples were collected in this programme. A number of gold, silver, copper and zinc anomalies have been recorded. Interpreted gold-silver response ratios have outlined a number of anomalies in the southern structural break area, the most significant of which appears to represent two distinct parallel trends, each with a strike length of 800m and an orientation of 0700. These MMI anomalies directly overlie two zones of high chargeability (IP) and may represent sulphide mineralization associated with structures oblique to the main GB Zone, which has an azimuth of 1000. Several other MMI anomalies appear to follow a similar 0700 trend, including a series of anomalous clusters covering over 1,000 metres of strike. The best drill hole by Placer Dome which intersected 58.53 g/tonne gold over 3.00m was collared within this northeasterly trending zone. The MMI response over the GB Zone comprises a number of single to multi-point anomalies intermittently along its trend.

Mr. Lorne Warner, P. Geo. and Mr. Terence McKillen, P.Geo. are the qualified person respectively responsible for Trade Winds' and Conquest's exploration programs. Fire assay and MMI geochemical results have been provided by ALS Chemex.

ABOUT CONQUEST

In addition to the Aurora gold project, Conquest is exploring several other gold projects in Ontario and British Columbia. These include the Alexander gold project at Red Lake, the King Bay gold project at Sturgeon Lake on which drilling is planned after freeze up, the Smith Lake gold project at Missanabie, and the Sunday Lake and Nash Creek gold projects at Detour Lake (Ontario). In British Columbia, Conquest is engaged in exploring its Phiz and Rock & Roll precious and base metal properties located in the Iskut River area. Cash and short-term investments at September 30, 2004 amounted to approximately $2.2 million which together with JV contributions, provide adequate funding for all proposed programs through the fall and winter drilling season.

There are currently 58,596,677 shares of Conquest issued and outstanding.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Conquest Resources Limited (TSX VENTURE:CQR)