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Compliance
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Silver Quest Resources Ltd. ("Silver Quest"), has been requested by the
Compliance & Disclosure Department of the TSX Venture Exchange
("TSX-V") to announce that one of Silver Quest's directors and its
President, Robert F. Weicker, recently entered into a "Settlement
Agreement" with the BC Securities Commission regarding disclosure made
in 2004 by Aberdene Mines Ltd. ("Aberdene"), an OTC (USA) traded issuer
unrelated to Silver Quest, of which he was formerly a director and
officer.
As Aberdene's senior geologist and director, Mr. Weicker signed three
news releases in June and July 2004 that relied on historical mineral
resource estimates which failed to meet the requirements set out in NI
43-101 Standards of Disclosure for Mineral Projects and therefore
contained misleading scientific and technical information about a
mineral property, made incorrect statements related to the economic
viability of the property, and failed to disclose that he had an
interest in the property held by Aberdene.
Under the Settlement Agreement, Mr. Weicker paid $30,000 to the BCSC
and will not prepare or disseminate news releases containing scientific
or technical information for any issuer for 12 months without
supervision by a director or officer of that issuer. Silver Quest has
procedures in place pursuant to it's public disclosure policy to
provide compliance with the terms of this Settlement Agreement.
Silver Quest has been informed by the TSX-V that it is conducting a
"Suitability Review" Mr. Weicker.
SILVER QUEST RESOURCES LTD.
"John A. McDonald"
John A. McDonald, Director
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release. Not for distribution to the US or to US wire services.
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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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