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Re: News Release - Tuesday, February 20, 2007
3Ts Drill Update - Ted Vein Results
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News Release: 07-02

Silver Quest Resources Ltd. (the "Company") today is pleased to
announce results from four additional drill holes completed in December
2006, on the Lower Ted Vein on the 3Ts epithermal gold-silver property
located in central British Columbia.

Highlights of the drill program, which was directed at the Lower Ted
Zone (below a flat-lying, microdiorite sill that cuts the near-vertical
vein structure) include hole TT06-40, which returned an intercept
grading 1.71 grams per tonne gold (g/t Au) and 271.1 grams per tonne
silver (g/t Ag) over an estimated true width of 10.0 metres, with a
higher grade section assaying 2.78 g/t Au and 450.2 g/t Ag, over an
estimated 3.1 metres true width.

All four holes successfully intercepted the Lower Ted Vein, with the
significant results summarized in the tables below:

Est.
Drill True
Width Width Au Ag Au
Ag
Hole From To (m) (m) (g/t) (g/t) Oz/t Oz/t
TT06-40 250.51 269.14 18.63 10.0 1.71 271.1 0.050 7.91
including 257.29 263.01 5.72 3.1 2.78 450.2 0.081 13.13
Lower Zone 275.65 277.04 1.39 0.7 5.64 15.1 0.164 0.44

TT06-41 380.84 383.59 2.75 2.0 1.45 53.4 0.042 1.56
TT06-41 399.12 401.96 2.84 2.1 1.13 102.8 0.033 3.00

TT06-43 280.60 314.94 34.34 20.0 1.19 101.2 0.035 2.95
including 292.46 314.94 22.48 13.1 1.41 132.5 0.041 3.86

TT06-44 257.60 260.60 3.00 1.4 1.64 131.7 0.048 3.84
TT06-44 260.60 267.60 7.00 3.4 0.46 24.3 0.013 0.71
TT06-44 267.60 271.60 4.00 1.9 0.79 75.3 0.023 2.20
combined 257.60 271.60 14.00 6.7 0.81 61.9 0.024 1.80

"The drilling continues to expand the size of the Lower Ted Vein target
as well as confirming geometry of the system which remains open to the
south, north and at depth," says President & CEO Robert F. Weicker.
"The Ted Vein is a robust, silver-rich epithermal system, with
remarkable continuity and width. While at an early stage of exploration
with only six holes completed, we have already partially outlined a
panel measuring approximately 300 metres along strike and 225 metres
vertically below the microdiorite sill, with significant precious
metals in all holes drilled."

The results to date indicate a higher-grade precious metal zone
adjacent and proximal to the upper and lower contacts of the
microdiortite sill (Longitudinal Section to be posted on the Company's
website: www.silverquest.ca), and this will be a focus of future
drilling. In addition to expanding the resource area, this drill
program has indicated important base metal zonations, which may also be
targeted with further drilling. Hole TT06-40 intersected 1.50 metres
grading 3.41 g/t Au, 795.0 g/t Ag, 0.46 % copper (Cu), 1.35 % lead
(Pb), and 2.83 % zinc (Zn).

The 3Ts project is located in central British Columbia, approximately
120 kilometres southwest of Vanderhoof. Acquired, through a combination
of staking and option agreements, the three contiguous properties
comprising the project total 34 square kilometres, covering a bonanza
style, epithermal gold-silver camp. Drilling on the Ted Vein was
completed in mid-December 2006, and permitting of additional drill
sites will commence in the spring in preparation for follow up drilling
proposed for the summer. Future drilling will focus on the extensions
of the Lower Ted Vein, the Mint Vein (above and below the microdiorite
sill), and the Ringer target. Resource Eye Services Inc. of Mission,
B.C, has been retained to complete an updated inferred geological
resource estimate in compliance with NI 43-101. EcoTech Laboratory in
Kamloops performed the primary assays and check assays will be
submitted to Acme Analytical Laboratories in Vancouver. Driftwood
Diamond Drilling of Smithers was the drill contractor on this project.

Robert Weicker, PGeo, is the qualified person, as defined by National
Instrument 43-101, for the Corcoran Canyon project and supervised the
preparation of the technical information in this release and verified
the scientific and technical information and opinions contained herein
by reviewing the underlying data.

Silver Quest is an established Canadian junior exploration company with
a focus on silver and gold projects, with ten mineral properties in
B.C., Ontario, Yukon, Nevada USA and Sonora, Mexico. For Silver Quest
property locations and information, visit the Company's web site at
www.silverquest.ca.

SILVER QUEST RESOURCES LTD.

"Robert Weicker"

Robert Weicker, President

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

P.O. Box 11584,
1410 - 650 West Georgia Street,
Vancouver, British Columbia V6B 4N8
Telephone: 604-687-3959
Facsimile: 604-408-0489
E-Mail: info@silverquest.ca

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Copyright (c) 2007 SILVER QUEST RESOURCES LTD. (SQI) All rights
reserved. For more information visit our website at
http://www.silverquest.ca/ or send mailto:info@silverquest.ca
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