News Releases

February 20, 2007

3Ts Drill Update - Ted Vein Results

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