Ownership profile

Issued and Outstanding Shares

There are 72,663,830 shares of Conquest Resources issued and outstanding, giving the Company a market capitalization of approximately $15 million at $0.20 per share.

Shareholders

Conquest Resources Limited has over 1,000 shareholders, located in Canada, The United States of America, the Carribean, Europe and southern Africa. Mr. John Kearney, Chairman of the Company, holds 13,204,615 common shares, representing approximately 18.2% of the issued and outstanding common shares. In addition, Mr. Kearney holds 575,000 stock options and the 10,000,000 warrants issued as part of a recent Units placement. If all of the options and warrants were exercised, Mr. Kearney would hold an aggregate of 23,779,615 common shares, which would represent approximately 28.2% of the then issued and outstanding common shares on a partially diluted basis, (i.e., assuming no other options or warrants were exercised by other holders).Institutional investors hold approximately 36% of the share capital.

Reporting Issuer

Conquest Resources Limited is a reporting issuer in the provinces of Ontario, Alberta and British Columbia.

Subsidiary Companies
Baobab Minerals Inc. (Canada - 100%)
African Gold B.V. (Netherlands - 100%)
Plontberg Manufacturing (Private) Limited (Zimbabwe - indirect 100%)
Sampo Resources (Tanzania) Limited (Tanzania - indirect 100%)

Corporate History

Conquest Resources Limited (the "Company" or "Conquest") was incorporated on January 23, 1945 under the name "Quest Yellowknife Mines Limited" under the Business Corporations Act (Ontario). On October 15, 1984 the Company changed its name to "Conquest Yellowknife Resources Ltd." On January 27, 2000 the Company changed its name to "Conquest Resources Limited" . The Company is a Toronto based mining exploration and development company. Its common shares are listed on the TSX Venture Exchange under the symbol "CQR".

Since incorporation in 1945 the Company has been principally engaged in the acquisition, exploration, development and operation of mineral properties. The Company has acquired interests and entered into agreements to acquire interests in and to mineral properties located in Canada and Africa. The Company has written down its African investments.