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Quest International Expands Property Portfolio.

RENO, NEVADA--(BUSINESS WIRE)--Nov. 26, 1996--Quest International (TSE QIX., NASDAQ QIXXF. ) Quest International Resources Corporation has agreed in principal to an earn-in and mining venture agreement to acquire a 51 percent working interest in the Wheeler Lake property in the Northwest Territories of Canada from Hidden Lake Gold Mines Ltd., a member of the Ardic Group of Companies. Quest has agreed to spend $2 million U.S. over the next three years in order to earn a 51 percent interest in the property.

In an independent geologic evaluation commissioned by Quest, a total of nine samples were collected from three different areas and assayed for gold. All samples were anomalous in gold and 4 returned significant values including assays of 0.352, 0.092, 0.128 and 0.148 oz Au/t. "I'm excited about this acquisition and the potential value it adds to Quest's significant portfolio of properties," said Joel Casburn, Quest's Vice President of Corporate Development. "This deposit, a "Lupin style iron formation" closely resembles our gold deposit at Damoti Lake located only 60 miles away."

Quest plans to conduct a $250,000 U.S. drilling program on this property between January and March 1997.

Lennard D. Glogauer, V.P. Corporate Communications

The Toronto Stock Exchange and NASDAQ have neither approved nor disapproved of the contents of this press release.

CONTACT: Quest International Resources Corporation

Lennard D. Glogauer, 702/ 823-2400

702/823-2420 (FAX)


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Publication:Business Wire
Date:Nov 26, 1996
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