TORONTO, ONTARIO -- (Marketwire) -- 10/27/10 -- Conquest Resources Limited (TSX VENTURE: CQR) is pleased to report that Detour Gold Corporation ("Detour Gold") has completed an MMI (Mobile Metal Ion) soil sampling program on Conquest's Sunday Lake Gold Project, located 7 kilometers east of Detour Gold's open pit gold development project in the northern Abitibi Greenstone Belt.
Conquest recently entered into a joint venture with Detour Gold on Conquest's Sunday Lake Property (consisting of 13 square kilometers of prospective mineral leases located along the Sunday Lake Deformation Zone pursuant to which Detour Gold has the right to earn a 50% interest in the Sunday Lake Property) by completing $1,000,000 on exploration over the next two years, including a minimum expenditure of $500,000 prior to September 30, 2011. Conquest also holds 100,000 shares of Detour Gold Corporation.
A total of 552 samples were collected by Detour Gold during the soil sampling program, designed to assist in the prioritization of drill targets for the upcoming winter drill season. Geochemical results from the survey are expected in November 2010.
Conquest anticipates Detour Gold will commence a drill program on the Sunday Lake Property in January, 2011.
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Conquest also continues to explore with its ongoing 8,000 metre deep drilling program at its 100% owned Alexander Gold Project in the heart of the Red Lake gold camp.
Conquest is exploring several gold projects in Ontario. These include the Alexander Gold Project at Red Lake; the Sunday Lake property at Detour Lake in joint venture with Detour Cold Corporation; and, the Smith Lake Gold Project at Missanabie.
There are currently 86,838,637 shares of Conquest issued and outstanding.
This news release may include certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, exploration results, and future plans and objectives of Conquest, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Conquest's expectations are exploration risks detailed herein and from time to time in the filings made by Conquest with securities regulators.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or the accuracy of this release.
Contacts:
Conquest Resources Limited
Terence N. McKillen
President & CEO
647-728-4126
Conquest Resources Limited
D. Brett Whitelaw
Vice-President
604-984-8633
Conquest Resources Limited
John F. Kearney
Chairman
416-362-6686
info@conquestresources.net
www.conquestresources.net
