CONQUEST MOBILIZES SECOND DRILL RIG TO ALEXANDER GOLD PROJECT, RED LAKE, ONTARIO

TORONTO, ONTARIO, July 5, 2010 - Conquest Resources Limited (TSXV:CQR) ("Conquest") is pleased to announce plans to mobilize a second drill rig to the Alexander Gold Project at Red Lake, Ontario. In February 2010, the Company commenced a deep drilling program at its 100% owned Alexander Gold Project in Red Lake, Ontario consisting of approximately 8,000 metres of NQ sized surface drilling in a series of three deep parent holes and subsequent wedge holes. The first deep hole and the first wedge hole have been completed and the second deep hole is underway (see Press Release - June 28, 2010).

SECOND RIG TO DRILL SULPHIDE ZONE TARGETS IN CENTRAL AREA OF ALEXANDER PROPERTY
Conquest plans to mobilize a second drill rig to the Alexander property in mid July to test the depth extension of the Sulphide Shear Zone discovered by Conquest during its 2003 and 2004 shallow drilling and surface trenching programs.

The supplemental two-hole program will consist of approximately 1,200 metres of NQ-sized drilling in the central part of the Alexander Property located approximately one kilometre east of the ongoing deep drilling program near the property boundary with Goldcorp.

The two planned holes will target the down dip extension of the Sulphide Shear Zone where historic drilling and trenching defined a sulphide-bearing shear structure that is five to ten metres in thickness and extends approximately 700 metres on surface under the central portion of the Alexander Property. Several holes drilled by Conquest in 2003 and 2004 tested the upper stratigraphy where the best hole intersected gold mineralization reporting 12 grams per tonne over 0.43 metres. The zone is oriented approximately 110 degrees in strike, dipping steeply to the south, and is untested in all directions below 225 metres vertical depth.

The planned drilling will also test targets in the footwall to the Sulphide Shear Zone where Conquest has identified evidence of shearing in outcrop and which is entirely untested and open in all directions below surface.

The new drilling with the second rig will be conducted in addition to and concurrent with the ongoing 8,000 metre deep-drilling program.

ABOUT THE ALEXANDER PROPERTY
Conquest's Alexander Gold Project is located in Balmer Township in the heart of the Red Lake Gold Camp. The Alexander Property is situated within the "Mine Trend" adjacent to Goldcorp's Red Lake and Campbell gold mines, which have historic production and current resources in excess of 25 million ounces of gold, and approximately 1,000 metres east of the Red Lake No. 1 Shaft headframe and within 400 metres of the Far East gold zone at the Red Lake Mine. Many of the regional structures with associated gold mineralization in the area of Goldcorp's two producing mines cross on to the Alexander Property.

GOLD INTERSECTED IN BRUCE CHANNEL SEDIMENTS AT DEPTH ON ALEXANDER GOLD PROJECT AT RED LAKE, ONTARIO | SECOND DEEP PARENT HOLE COMMENCED TO PLANNED DEPTH OF 1,700 METRES

is pleased to report the balance of the assays at depth from the Company's first parent hole, CR-10-039, at the Alexander Property in Red Lake, Ontario, and that gold mineralization was intersected at a vertical depth of 1,615 metres in magnetite- and sulphide-bearing, banded chert within the Bruce Channel Formation, reporting 8.49 grams per tonne over 1.00 metre.

BRUCE CHANNEL FORMATION HOSTED GOLD MINERALIZATION
The 8.49 grams per tonne intersection represents the deepest gold mineralization intersected on the Alexander property to date and is significant because it also demonstrates for the first time that Bruce Channel Formation metasediments in the eastern portion of the Red Lake Camp host gold mineralization.

Adjacent sampling indicates that a two metre thick envelope of elevated gold values (0.1 to 0.3 grams per tonne) is located stratigraphically above and below the 8.49 g/t anomalous assay. True thickness of this horizon is unknown as it has never been previously tested and is interpreted to outcrop approximately 1,700 metres up‐dip on the northern portion of the Alexander Property under the Red Lake Mine tailings pond.

Terence McKillen, President and CEO, commented on the ongoing exploration stating, "With an intersection of over one quarter of an ounce over one metre at a vertical depth of 1,615 metres we have demonstrated that there is gold at depth on Conquest’s Alexander Property at Red Lake. The goal of this deep drill program is to demonstrate through systematic exploration that the Alexander property has the potential to host another large gold deposit, east of the Red Lake Gold Mine."

FIRST DEEP HOLE COMPLETED AT ALEXANDER GOLD PROJECT

Toronto, Ontario - May 27, 2010 - Conquest Resources Limited (TSX-V: "CQR") reports the completion of the first "parent hole" in the deep drilling program at its 100% owned Alexander Gold Project in Red Lake, Ontario which is located within 1,000 metres of the Goldcorp Inc. Red Lake Gold Mine Complex in Balmertown.

During February 2010, Conquest commenced a deep drilling program which consists of approximately 8,000 metres of NQ sized surface drilling with a series of three deep parent holes and approximately eight wedged holes.

The first hole in the deep drill program, CR-10-039, was collared in a steeply dipping northeast direction from the southwest corner of the Alexander Property and was completed in 75 days of drilling to a hole depth of 2,084 metres. This hole is the deepest drilled on the property to date.

EXPLORATION GEOLOGY AND RESULTS
Hole CR-10-039 intersected a favorable shear zone in basalts belonging to the Balmer Assemblage over 10 metres in the hole (approximately 7.2 metres true thickness) at a depth of 790 vertical metres. The zone is characterized by three metres of hanging wall brecciation followed by a zone of shearing and strong silica-quartz-carbonate and biotite alteration over this interval. Similar rocks to these at the adjacent Goldcorp Red Lake mine are host to high grade mineralization within similar shear structures that are believed to extend onto the Alexander Property.

Assay values from this structure returned marginally anomalous gold values and the zone provides encouragement for gold mineralizing potential both up- and down-dip along this structure which is untested and open in all directions.

The underlying Bruce Channel sediments were also found to contain several encouraging 10 to 50 metre thick sections of sheared sediments which were locally found to contain massive sulphide replacement and cherty iron formations. Assays for sampling within the Bruce Channel Formation are pending. True thickness of these horizons is unknown as they have never been tested and outcrop 1,700 metres up-dip on the northern portion of the Alexander Property under the Red Lake Mine tailings pond.

Terence McKillen, President and CEO, commenting on the ongoing exploration stating "We are pleased that the first deep hole has intersected similar structures and alteration within the same geological formations which host one of the North America's richest gold deposits The location and geometries of these targeted shear zones provide critical information at depth where information was previously only inferred from shallow drilling in the upper 700 metres of the Balmer volcanics. This first parent hole is now being used for subsequent wedging and the program is on track and on budget."

WEDGING IN THE PARENT HOLE CR-10-039
The first wedge hole was started at a hole depth of 320 metres. Two primary targets have been identified for this wedge hole. The first is a sheared and altered structure in the Balmer volcanics and the second is a broad, 400 metre thick horizon of locally sheared and brecciated sediments below the Balmer Assemblage belonging to the Bruce Channel Formation which was discovered in the drilling of the parent hole, CR-10-039.

CONQUEST SIGNS LETTER OF AGREEMENT WITH DETOUR GOLD CORPORATION ON CONQUEST'S PROPERTIES ADJACENT TO DETOUR LAKE GOLD PROJECT CONQUEST SELLS AURORA PROPERTY TO DETOUR GOLD FOR $3 MILLION

Toronto, Ontario - April 12, 2010 - Conquest Resources Limited (TSX-V: "CQR") is pleased to announce that it has entered into a letter of agreement (the "LOA") with Detour Gold Corporation ("Detour Gold") whereby Detour Gold will have the option to acquire a 50% interest in Conquest's Sunday Lake Property and Detour Gold will purchase Conquest's interest in the Aurora Property.

The Sunday Lake property lies immediately east of Detour Gold's Detour Lake Project, along the eastern extension of the Sunday Lake Deformation Zone, in what is believed to be a prospective area of this relatively under-explored part of the Abitibi Greenstone Belt. The Aurora Property lies south of Detour Gold's Detour Lake Project. Detour Gold is acquiring the Aurora Property to accommodate the infrastructure requirements for the development of its Detour Lake mine.

Conquest has earned an undivided 60% interest in those properties, and has exercised its right to earn an additional 40% interest from NVI Mining Ltd., an indirect wholly owned subsidiary of Breakwater Resources Ltd., by completing the remaining $2.13 million exploration expenditures prior to December 31, 2012, subject to a 2% net smelter royalty payable to NVI Mining Ltd.

Pursuant to the terms of the LOA, as consideration for Conquest's interest in the Aurora Property, Detour Gold will pay Conquest $1 million in cash and will, subject to regulatory approval, issue 100,000 common shares of Detour Gold to Conquest. Detour Gold shares recently traded in the range of $19 to $20 per share on the TSX. In addition, Detour Gold will complete the remaining $2.13 million in exploration expenditures on the Aurora and Sunday Lake Properties prior to December 31, 2012, of which a minimum of $1 million will be expended on the Sunday Lake Property.

After completion of those expenditures, Detour Gold will have a 100% interest in the Aurora Property and a 50% interest in a joint venture with Conquest on the Sunday Lake Property. Conquest will retain a 50% joint venture interest in the Sunday Lake Property, subject to a 7.5% net profits interest held by Prism Resources Inc.

"We are pleased to have reached an agreement with Detour Gold which will be beneficial to both companies," said Terence McKillen, President and Chief Executive of Conquest. "The agreement will result in a transaction value to Conquest of approximately $3 million, which includes $1 million in cash and the current value of the 100,000 shares of Detour Gold. In addition, as part of the agreement, Detour Gold will complete the remaining $2.13 million expenditures required to vest the properties, of which a minimum of $1 million will be expended on the Sunday Lake Property over a two year period with a minimum of $500,000 per year. Detour Gold's geological knowledge and expertise in the area will be invaluable in the future exploration on the Sunday Lake Property," added Mr. McKillen.

The Transaction with Detour Gold is expected to close in the second quarter of 2010. Closing of the Transaction is conditional upon (i) completion of satisfactory due diligence by Detour Gold; (ii) receipt of regulatory, contractual and corporate consents and approvals; (iii) entering into a formal agreement for the Transaction; (iv) Detour Gold and Conquest entering into a joint venture agreement providing Detour Gold with a right to earn a 50% interest in Conquest's interest in the Sunday Lake Property; and (v) the satisfaction of other customary conditions.

CONQUEST REACHES TOP OF THE BALMER TARGET HORIZON IN FIRST HOLE IN DEEP DRILLING PROGRAM AT THE ALEXANDER GOLD PROJECT, RED LAKE, ONTARIO

Toronto, Ontario - April 09, 2010 - Conquest Resources Limited (TSX-V: "CQR") is pleased to provide the following exploration update on the deep drilling program at its Alexander Gold Project in Balmer Township within the Red Lake Gold Camp.

In February 2010, Conquest commenced its 2010 drilling program on its 100% owned Alexander Property which is located within 1,000 metres of the Goldcorp Inc. Red Lake Gold Mine Complex in Balmertown, Ontario.

In the current phase of the ongoing program, Conquest has planned to drill approximately 8,000 metres of NQ sized surface drilling with a series of three steeply dipping, northeast oriented parent holes and approximately eight wedge holes. The first hole in the program, CR-10-039 that is currently underway, is collared in the southwest corner of the Alexander Property. This hole will be used for subsequent wedging above the planned hole depth of 2,000 metres throughout April, May, and into June.

Hole CR-10-039 is on track and coring well at 1,100 metres down hole depth (as at April 9, 2010) corresponding to approximately 1,030 metres of vertical hole depth. The hole is collared into steeply southwest dipping siliceous fine grained clastic-dominated sediments, with intermediate intrusive dykes and sills belonging to the Huston Assemblage in the top 800 metres of the hole.

The Huston Unconformity was intersected at 800 metres down hole, on-target, at approximately 765 metres vertical hole depth. The underlying prospective Balmer Assemblage basalts below this Huston Unconformity are locally sheared and contain quartz-carbonate-biotite alteration. Sheared and altered Balmer volcanics are the primary host rocks of high grade gold mineralization in the Red Lake Gold Mine less than 1,000 metres along strike to the west of the drilling in CR-10-039.

CONQUEST FURTHER CLARIFIES ITS DETOUR LAKE AREA PROPERTY HOLDINGS

Toronto, Ontario - March 17, 2010 - Conquest Resources Limited (TSX-V: "CQR") wishes to clarify that it has not acquired any interest in the Detour Lake Gold Project being developed by Detour Gold Corp. Conquest has been exploring its own Detour Lake Area properties (Aurora and Sunday Lake) since 2002 through an option/joint venture agreement with Prism Resources Inc. and Boliden Westmin (Canada) Limited (subsequently acquired by Breakwater Resources).

On March 15, 2010 Conquest announced that it has signed an Amending Agreement to an earlier Option Agreement with NVI Mining Ltd., an indirectly wholly-owned subsidiary of Breakwater Resources Ltd., and successor to Boliden Westmin (Canada) Limited, a signatory to the original agreement, (collectively "Breakwater") and with Prism Resources Inc. whereby Conquest agreed to satisfy an outstanding payment obligation to Breakwater of $200,000 through the issuance to Breakwater of 1,000,000 common shares of Conquest and thereby complete the acquisition by Conquest of a 60% interest in the Aurora and Sunday Lake properties, located at Detour Lake Ontario.

Conquest's Aurora and Sunday Lake properties are located immediately adjacent to the current mine development project being operated by Detour Gold Corp. and Conquest has been requested by Detour Gold Corp. to clarify that Conquest does not hold and has not acquired an interest in Detour Gold Corp.'s "Detour Lake Gold Project".

Detour Gold Corp.'s gold deposit lies approximately 500 metres to the north of Conquest's Aurora property, while Conquest's Sunday Lake property lies approximately 5 km to the east of Detour Gold's proposed open pit and is on the same Sunday Lake Deformation Zone.

The Proposed Site Plan for the Detour Lake Gold Project, published by Detour Gold Corp., indicates that a substantial part of the Mine Rock Stockpile from the proposed open pit mine is to be located on Conquest's Aurora Property Mining Leases. Detour Gold Corp. has recently made an offer to Conquest to acquire Conquest's Detour Lake gold properties, which offer Conquest considers inadequate and has not been accepted.

Conquest's properties comprise a substantial land position in the Detour Lake Area of northeastern Ontario. Conquest's properties are strategically located along five (5) kilometers of the prospective Sunday Lake Fault structure and also cover some sixteen (16) kilometers of east-west trending fault zones within the parallel Lower Detour Lake Deformation Zone. The Detour Lake Deformation Zone is part of the prolific Abitibi Greenstone Belt and displays classic Abitibi style mineralization along several east-west structural breaks in the immediate Detour Lake area.

Conquest's land position at Detour Lake is made up of mining leases, mining claims and staked tie-on claims. The land packages are designated as the Aurora Property and the Sunday Lake Property.

Substantial exploration programs have been completed on the various land holdings during the past 25 years, with over $10 million in exploration expended on target development and diamond drilling over the entire project area. The majority of the historic work was carried out by Westmin Resources (now Boliden-Westmin (Canada) Limited subsequently acquired by Breakwater) and its former partner Placer Dome Inc., the then operator of the historic Detour Lake Gold Mine. Having optioned the properties from Boliden Conquest and its partners have expended approximately $2.3 million on its Detour Lake area properties since 2002.

CONQUEST CLARIFIES DETOUR LAKE AREA ACQUISITION

Toronto, Ontario - March 16, 2010 - Conquest Resources Limited (TSX-V: "CQR") confirms that it has been exploring its own Detour Lake Area properties (Aurora and Sunday Lake) since 2002 through an option/joint venture agreement with Prism Resources Inc. and Boliden Westmin (Canada) Limited (subsequently acquired by Breakwater Resources). Although Conquest's Aurora and Sunday Lake properties are adjacent to the current mine development project being operated by Detour Gold Corporation., Conquest does not hold and has not acquired an interest in such project.

CONQUEST ACQUIRES 60% INTEREST IN DETOUR LAKE GOLD PROJECT
ISSUES 1,000,000 SHARES TO BREAKWATER

Toronto, Ontario - March 15, 2010 - Conquest Resources Limited (TSX‐V: "CQR") is pleased to report that it has signed an Amending Agreement to an earlier Option Agreement with NVI Mining Ltd., an indirectly wholly-owned subsidiary of Breakwater Resources Ltd. and successor to Boliden Westmin (Canada) Limited, a signatory to the original agreement, (collectively "Breakwater") and with Prism Resources Inc. ("Prism") whereby Conquest will satisfy the outstanding payment obligation to Breakwater of $200,000 through the issuance to Breakwater of 1,000,000 common shares of Conquest and thereby complete the acquisition by Conquest of a 60% interest in the Aurora and Sunday Lake properties, located at Detour Lake, Ontario. The issue of the shares to Breakwater is subject to regulatory approval.

Conquest also has the right to increase its interest in the Aurora and Sunday Lake properties to 100%, by spending a further $2,000,000 on exploration and development by December 31, 2012. Approximately $2,300,000 has already been expended as at December 31, 2009. Breakwater will retain a 2% net smelter royalty, and as part of the Agreement Conquest shall have the right to purchase half of the net smelter royalty interest (1%) for a consideration of $1,000,000. Prism retains a net profits interest equal to 7.5% of Conquest's net profit from the Aurora property.

Conquest's Aurora and Sunday Lake gold properties at Detour Lake total 88 square kilometers and cover portions of the Sunday Lake Deformation Zone and a substantial part of the parallel Lower Detour Lake Deformation Zone located respectively to the east and south of the Detour Lake project currently under development by Detour Gold Corp. ("Detour Gold").

Detour Gold has reported an open pit reserve of 8.8 million ounces of gold contained within 238.6 million tonnes at a grade of 1.15 g/t gold and total measured and indicated resources of 445.9 million tonnes at 1.20 g/t gold.

Detour Gold's deposit lies approximately 500 metres to the north of Conquest's Aurora property, while Conquest's Sunday Lake property lies approximately five kilometers to the east of Detour Gold's proposed open pit and lies on the same Sunday Lake Deformation Zone.

START OF FIRST DEEP HOLE AT ALEXANDER PROPERTY, RED LAKE, ONTARIO

Toronto, Ontario - February 25, 2010 - Conquest Resources Limited (TSX-V: "CQR") is pleased to announce drilling has started on the first 2,000 metre "mother hole" on its Alexander Gold Project (100% owned) at Red Lake, Ontario. Boart Longyear Canada has mobilized a LY-55 deep-hole rig onto the site for the initial drill program comprising 8,000 metres of drilling. The program comprises a series of deep holes with wedging from 800 metres vertical depth in each of the holes. The initial drill program is expected to take approximately four months to complete.

The first hole will test the Balmer volcanic assemblage beneath the Huston-Balmer unconformity. Three "daughter holes" will be wedged from the first parent hole. The target is gold mineralization in sheared Balmer volcanics as well as Huston sediments within the "Mine Trend" structural corridor, immediately east of Goldcorp's Red Lake and Campbell gold mines.

The drilling is part of a systematic evaluation of the Alexander Property at deeper levels than previously explored, starting at the southwestern corner of the property in close proximity to the Red Lake mine. Previous, shallower drilling by Conquest and by Goldcorp intersected significant gold values within the targeted rock types.

CONQUEST STARTS PHASE TWO DRILLING AT ALEXANDER PROPERTY, RED LAKE, ONTARIO

Toronto, Ontario - February 18, 2010 - Conquest Resources Limited (TSX-V: "CQR") is pleased to announce that it has commenced Phase Two of an ongoing exploration program being carried out at the Alexander Gold Project (100% owned) in Red Lake, Ontario.

Boart Longyear Canada has been chosen to carry out the 8,000 metre drill program to down-hole depths of 2,000m to test targets within the Balmer volcanic assemblage with a series of mother holes and wedged holes. Conquest plans to conduct a total of 20,000 metres of diamond drilling in subsequent phases of exploration on the Alexander Property, subject to additional financing.

Conquest's geological team and Boart's drilling crew as well as program support staff are presently on site in Red Lake with drilling expected to commence on or about February 25th, 2010. The initial program is anticipated to take approximately four months to complete.

CONQUEST PLANS 8,000 METRES OF DRILLING AT THE ALEXANDER GOLD PROJECT, RED LAKE, ONTARIO

Toronto, Ontario - January 25, 2010 - Conquest Resources Limited (TSX-V: "CQR") is pleased to announce that it has issued tenders for a new drilling program at its Alexander Gold Project in Red Lake, Ontario, commencing in late February.

The program will comprise approximately 8,000 metres of surface NQ drilling to depths of 2,000 metres to test targets within the Balmer Assemblage. Drilling will involve eight standard wedges from downhole depths between 1,000 and 1,500 meters. Approximately 4,500 metres of NQ sized parent hole drilling will be included in the proposed total 8,000 metres of exploration drilling. The Alexander Property is readily accessed on graveled roads and drilling collar stations are within 600 metres of a suitable water source for drilling.

In 2009, Conquest completed a 4,100 metre drill program under contract to Boart Longyear Canada Inc. which doubled the depth profile of drilling on the Alexander Property from 300 to 700 vertical metres in the area below the western part of the property. All six holes from this program intersected gold mineralization, including 9.64 g/t gold over 0.39 metres and 4.05 g/t gold over 1.92 metres in the stratigraphy above the targets to be tested in planned 2010 drilling.

Conquest plans to conduct at total of 20,000 metres of diamond drilling in subsequent phases of exploration, subject to additional financing, on the Alexander Property which will test the Balmer Assemblage stratigraphy below the western and central portions of the property. The focus for the Company is to continue a systematic deepening of drilling in untested structures interpreted to extend from the adjacent Red Lake Mine (Goldcorp) within volcanic lithologies below the 700 metre level at the Alexander Property.

The deadline for drilling tender submission is Friday, January 29, 2010.

CONQUEST CLOSES $1.8 MILLION FINANCING

Toronto, Ontario - December 23, 2009 - Conquest Resources Limited (TSX- V: "CQR") announces it has closed a previously announced (November 30, 2009) non brokered private placement of $1,831,920 consisting of 3,748,912 Flow-Through Shares at $0.23 per share and 5,300,895 units ("Units") at $0.19 per Unit, each Unit consisting of one common share and one-half of a common share purchase warrant, whereby each whole warrant entitles the holder to purchase one common share at $0.26 for one year.

The offering has been made available to accredited investors in Canada and eligible international investors. No securities were offered in the United States of America or to United States residents. The flow though placement included the sale of 3,260,869 flow through shares ($750,000) to the MineralFields Group.

"We are pleased to continue our relationship with MineralFields Group", said Terence McKillen, President and CEO. "We look forward to continuing to work with MineralFields Group as we explore the Company's Alexander Property at Red Lake, Ontario."

In connection with the placement with the MineralFields Group, Limited Market Dealer Inc., received a $25,000 cash finder's fee together with 163,043 finders shares and 326,086 broker warrants, valid for a period of twelve months, to purchase common shares at $0.23 per share, equal in number to 10% of the flow‐through shares subscribed for by MineralFields.

John Kearney, Chairman of Conquest and an insider of the corporation, subscribed for an additional 801,316 shares of the placement for gross proceeds of $163,250 (representing less than 1% of the total placement).

Proceeds of the financing will be used to fund exploration expenses on Conquest's Alexander Property near Red Lake, Ontario and for general working capital.

All securities issued are subject to a hold period of four months and one day from the date of issue in accordance with applicable securities laws and the requirements of the TSX Venture Exchange.

GOLD MINERALIZATION INTERSECTED IN ALL SIX HOLES FROM DRILLING AT RED LAKE

Toronto, Ontario - December 18, 2009 – Conquest Resources Limited (TSX-V: "CQR") is pleased to report further assay results from its Alexander Gold Project (100%) located in the prolific Red Lake gold camp of northwestern Ontario.

Conquest completed its 2009 Phase-I Drill Programme in early November, which consisted of six drill holes totaling about 4,100 metres of NQ surface drilling, all of which intersected gold mineralization.

Conquest was successful in intersecting gold mineralization in all six holes and obtained valuable assay and geological information from structural and stratigraphic targets extending from Goldcorp's Red Lake gold mine onto the Alexander property from surface to a depth of 700 metres vertically. These targets lie within the Balmer and Bruce Channel formations which have been identified across the width of Conquest's property, a distance of 2,000 metres.

Of particular note, Hole CR-09-037 intersected 7.76 g/t gold over one metre at a vertical depth of 335 metres and a second intersection of 4.05 g/t gold over almost two metres at 440 metres vertical depth. The 2009 drilling programme successfully doubled the vertical drilling depth profile to 700 metres in preparation for planned deeper phases of drilling.

Commenting on the results, Terence McKillen, Conquest's President and Chief Executive Officer, said: "We are particularly pleased that all six holes drilled in 2009 confirmed the presence of gold on Conquest's Alexander property. The final results of the 2009 programme also confirm the depth continuity of gold bearing structures from surface to more than 700 metres and provide significant encouragement to embark on a major programme of deep drilling of the Alexander Property. Conquest plans to commence the first part of a 20,000 metre follow up drill program early in 2010."

Significant assays are summarized in the table below. True thicknesses may not be calculated at this time due to the level of exploration drilling activity on the project.

As previously reported on November 23, 2009, Hole CR-09-037 intersected 83 metres of strongly sheared and silica altered Bruce Channel sediments at approximately 870 metres downhole depth in the western part of the property. CR-09-038 intersected the same altered and sheared sediments as those found in CR-09-037 at a downhole depth of 988 metres representing the deepest holes drilled to date at Alexander. These sheared Bruce Channel sediment intersections are prospective beyond the newly established strike length of over 225 meters and have returned anomalous gold values up to 0.50g/t over 0.68m.

As part of the ongoing exploration on the property, Conquest will also be targeting the extensive untested horizons that exist within the Balmer volcanics below the recently drilled holes in the western part of the Alexander property.

CONQUEST RECEIVES CIVIL CLAIM ON KING BAY ACCIDENT

Toronto, Ontario - December 14, 2009 - Conquest Resources Limited (TSX-V: "CQR") announces that it has been served with a statement of claim by the estate and family of a contractor who was working to construct an ice road at the King Bay joint venture property in late December 2007 when his snow vehicle broke through the ice resulting in the contractor's death.

The estate is claiming damages of $1.0 million against Conquest and its directors for negligence and breach of contract while the family is claiming $1.5 million under the Family Law Act of Ontario.

Conquest asserts that it has no responsibility or liability for the accident and that the claim against Conquest and its directors is entirely unsupportable. Conquest intends to vigorously defend the action if it proceeds.

Conquest also intends to apply to add KBG Minerals Corporation, the registered owner of the King Bay property and its partner on the King Bay joint venture, as well as John Wahl, Chief Operating Officer of KBG and the project supervisor, as third parties and to seek indemnity from them to the extent allowed by law.

Conquest has, through a plea agreement, previously settled proceedings under the Ontario Occupational Health and Safety Act arising out of the same accident. (See Conquest Press Release dated July 30, 2009).

CONQUEST ANNOUNCES PRIVATE PLACEMENT FINANCING OF UP TO $4.0 MILLION

Toronto, Ontario - December 4, 2009 - Conquest Resources Limited (TSX‐V: "CQR") announces a non brokered private placement of up to $4,000,000 consisting of up to 13,043,478 flow‐through shares at $0.23 per share and/or up to 21,052,631 units ("Units") at $0.19 per unit, each unit consisting of one common share and one‐half a common share purchase warrant, each whole warrant entitling the holder to purchase one common share at $0.26 per share for one year. The offering will be made available to accredited investors in Canada and eligible international investors. No securities will be offered in the United States of America or to United States residents.

Proceeds of the flow-through share issue will be used to fund exploration expenses on Conquest's Alexander Property near Red Lake, Ontario. Proceeds of the unit issue will be used for expenses of the offering, general corporate purposes and working capital.

All securities issued will subject to a hold period of four months and one day from the date of issue in accordance with applicable securities laws and the requirements of the TSX Venture Exchange.

Closing of the placement will be on or about December 15, 2009.

CONQUEST INTERSECTS GOLD IN FIRST FOUR HOLES ON ALEXANDER GOLD PROPERTY IN RED LAKE

Toronto, Ontario - November 23, 2009 - Conquest Resources Limited (TSX-V: "CQR") is pleased to provide interim results from ongoing exploration at its 100% owned Alexander gold project located in the prolific "Mine Trend" structure of the Red Lake gold camp in northwestern Ontario.

Conquest has completed its 2009 surface drill programme which consisted of six drill holes totaling 4,100 metres of NQ drilling conducted by Boart Longyear Canada. The programme was designed to target prospective stratigraphic and structural horizons to depths previously untested in the western and central portions of the Alexander property and to further investigate the area of recent drilling conducted by Goldcorp Inc. on to the property (previously reported, May 25, 2009).

Assay results received to-date for the first four holes confirm intersections of gold mineralization over narrow widths from sampling ranging in depth between 65 and 270 metres vertically.

The gold was identified by sampling in Balmer volcanic and Huston sedimentary rocks similar to those encountered in earlier shallow drilling completed by Conquest in 2003 and 2004.

Commenting on the progress of the 2009 drilling program Mr. Terence McKillen, President and Chief Executive Officer of Conquest Resources, stated, "The results of our 2009 programme confirm the depth continuity of gold bearing structures encountered in previous shallow drilling and provide the necessary encouragement to embark on a major programme of deep drilling to evaluate the potential of this strategically located Red Lake property."

DRILLING COMMENCES AT ALEXANDER PROPERTY, RED LAKE, ONTARIO

Toronto, Ontario - September 2, 2009 - Conquest Resources Limited (TSX-V: "CQR") is pleased to announce the commencement of drilling at its Alexander Gold Project in Red Lake, Ontario by Boart Longyear Canada. Phase one of a two-phase programme will comprise 4,000 metres of NQ drilling in the west and central portions of the property is expected to be completed by late October. Sampling and assaying of split core is expected to take five to six weeks after completion of the last drill hole with full reporting anticipated prior to the end of the year.

Conquest's Phase One drill programme is designed to test prospective stratigraphic and structural horizons at depth identified in previous drilling, surface trenching, geochemical soil surveys, airborne geophysical surveys, and recent surface drilling conducted by Goldcorp Inc. on to the property. Prospective massive sulphide and quartz-carbonate vein associated gold mineralization targets will be tested to vertical depths of approximately 500 metres within volcanic and sedimentary lithologies, along a strike length of about 1,800 metres extending from the boundary with Goldcorp's Red Lake mine property towards the central portion of the Alexander property. Gold mineralization potential in this area extending eastward from the adjacent mine infrastructure is open at depth.

CONTRACT SIGNED FOR ALEXANDER DRILLING, RED LAKE

Toronto, Ontario - August 18, 2009 - Conquest Resources Limited (TSX-V: "CQR") is pleased to announce that it has selected a contractor for the first phase of a two-phase drilling programme to be carried out at its Alexander Gold Project in Red Lake, Ontario.

Boart Longyear Canada will carry out approximately 4,000 meters of NQ drilling in six planned holes with work scheduled to commence in early September.

In late 2008, Goldcorp Inc. drilled four deep holes from its adjacent Red Lake mine property onto Conquest's 100%-owned Alexander property resulting in the deepest gold mineralization intersection on Conquest's property at vertical depth of 300 metres returning 14.26 grams per tonne gold over 0.61 metres (previously announced May 25, 2009).

Conquest's upcoming drill programme is designed to test specific targets, to vertical depths of approximately 500 metres, along a strike length of about 1,800 metres extending from the boundary with Goldcorp's property towards the central portion of the Alexander property.

Gold mineralization potential in this area is open at depth across the length of the Alexander property where Conquest has identified two types of gold mineralization characterized by replacement massive sulphides and quartz-carbonate veining within volcanic and sedimentary lithologies.

Conquest's Alexander Gold Project is located in Balmer Township in the heart of the Red Lake Gold Camp. The Alexander Property is situated within the "Mine Trend" adjacent to Goldcorp's Red Lake and Campbell gold mines, which contain historic production and current resources in excess of 25 million ounces of gold, and approximately 1,000 metres east of the Red Lake No. 1 Shaft headframe and within 400 metres of the Far East gold zone at the Red Lake Mine. Many of the regional structures that have associated gold mineralization in the area of Goldcorp's two producing mines cross on to the Alexander Property.

• DRILLING AT THE ALEXANDER GOLD PROPERTY
• APPOINTMENT OF EXPLORATION MANAGER

Toronto, Ontario - August 04, 2009 - Conquest Resources Limited (TSX-V: "CQR") is pleased to announce that it has issued calls for tender for drilling and will commence the first phase of a two-phase drilling programme at its Alexander Gold Project in Red Lake, Ontario in early September.

Phase-I of the planned program will comprise about 4,000 meters of drilling in six holes designed to test targets extending from the Goldcorp Inc. Red Lake Mine boundary area, defined by recent drilling, through the central portion of the Alexander property based on a recently completed detailed property compilation incorporating airborne geophysical data newly acquired from Goldcorp.

In late 2008, Goldcorp drilled four deep holes from their adjacent mine property onto Conquest's 100%-owned Alexander property. Hole DS641 from this programme intersected the deepest gold mineralization on Conquest's property at vertical depth of 300 metres returning 14.26 grams per tonne gold over 0.61 metres. Similar sedimentary host rocks intersected in drilling by Conquest in 2004 were found to contain layered massive sulphide horizons approximately 400 metres to the east of the Goldcorp intersection. Gold mineralization potential in this area is open at depth across the length of the Alexander property.

Conquest has identified two types of gold mineralization on the Alexander property characterized by replacement massive sulphides and quartz-carbonate veining within volcanic and sedimentary lithologies. The proposed drilling is planned to test some of these target horizons over a strike length of about 1,800 metres and to vertical depths of approximately 500 metres in the western and south central portions of the Alexander property.

NEW APPOINTMENT Conquest is pleased to announce the recent appointment of Benjamin Batson, B.Sc. as Exploration Manager. Ben is a graduate in Geological Engineering from Queen's University, Ontario. He has explored throughout Canada in VMS, mesothermal, porphyry, and structurally-hosted gold deposit types. He was previously Project Geologist for Murgor Resources Inc. and Exploration Geologist for Roca Mines Inc.

REPORTS ON SIX MONTH CONSOLIDATED FINANCIAL STATEMENTS & RESOLUTION OF LEGAL PROCEEDINGS

Toronto, Ontario - July 30, 2009 - Conquest Resources Limited (TSX-V: "CQR") has today filed its Consolidated Financial Statements and Management's Discussion and Analysis for the six month fiscal period ended June 30, 2009.

The Company recorded no revenue in the six month periods ended June 30, 2009 or June 30, 2008 and recorded a net loss for the six months of $308,987 ($0.005 per share) compared to a loss of $82,835 ($0.001 per share) in the six month period ended June 30, 2008. The loss includes a charge of $160,000 in respect to stock-based compensation for the six month period ended June 30, 2009; there was no such charge in 2008.

Total assets decreased to $3.69 million at June 30, 2009 from $3.82 million at December 31, 2008. The Company had a working capital surplus of $571,233 at June 30, 2009 compared to $777,219 at December 31, 2008, of which $500,000 is restricted cash being the proceeds of a flow-through share financing. The decrease was primarily due to funds expended on exploration projects and corporate development during the six month period ended June 30, 2009.

Legal Proceedings Resolved: Subsequent to the end of the period the Company negotiated a plea agreement with respect to nine charges which had been issued under the Ontario Occupational Health and Safety Act relating to an accident that occurred in December 2007 at the King Bay Project where an independent contractor drowned while constructing an ice road on Sturgeon Lake while operating his own equipment about 400 meters offshore at the time of the accident.

The contractor was engaged by the project supervisor because of his expertise and experience in building ice roads and had performed similar work for Conquest at the same location in the past.

The Company agreed to enter a guilty plea in respect of one charge of failing to provide information about the thickness of the ice and agreed to a fine of $130,000, with two years to make the payment. Five other charges against Conquest and three against the supervisor of the Project (the President of KBG Minerals) were withdrawn. The fine is subject to a 25% government mandated victim impact surcharge.

The plea agreement was reached following negotiation between the Company and the Crown. While Conquest did not agree with all of the Crown's allegations and was confident of a successful outcome at trial, it was deemed to be in the best interests of the Company and its shareholders to settle this matter and to avoid the significant legal costs (not including management's time) and the uncertainties in bringing this case to trial. The legal costs of the full trial and possible appeals would have exceeded the amount of the agreed penalty and the potential fines could theoretically have amounted up to a maximum of $3 million.

The Company will seek indemnity and recovery of the amount of the penalty and legal costs from its joint venture partner on the King Bay Project, KBG Minerals Corporation, the registered owner of the mineral claims and supervisor of the Project, and will implement improvements to the documentation of the Company's Safety Policies and Procedures.

GOLDCORP DRILLS FOUR HOLES ON CONQUEST'S ALEXANDER PROPERTY AT RED LAKE NEW GOLD INTERSECTION OF 14.25 G/T OVER 0.61 METRES AT A DEPTH OF 300 METRES

Toronto, Ontario - May 25, 2009 - Conquest Resources Limited (TSX-V: "CQR") is pleased to announce that Goldcorp Inc. ("Goldcorp") has recently completed four diamond drill holes on to Conquest's Alexander Property at Red Lake, Ontario.

The holes were drilled by Goldcorp from its adjacent Red Lake Mine Property as part of a wider program to delineate mineralization within the upper part of the Red Lake Mine.

The four inclined holes, which were collared from surface within approximately 1,000 metres of the Red Lake Mine No. 1 Shaft headframe, were drilled in a north-easterly direction into the western part of Conquest's property to downhole depths between 690 to 836 metres.

Hole DS641 of Goldcorp's drilling programme located a significant gold intersection of 4.97 grams per tonne gold over 1.82 metres, including 14.25 g/t over 0.61m, at a down hole depth of 473 metres and an estimated vertical depth of approximately 300 metres. The preliminary drilling results were provided to Conquest by Goldcorp. The gold assay results were determined by SGS and Accurassay Laboratories in Red Lake and Thunder Bay, Ontario.

Conquest's Alexander Gold Project is located in Balmer Township in the heart of the Red Lake Gold Camp. It lies immediately adjacent to Goldcorp's high grade Red Lake Mine, within the east-southeast trending "Mine Trend" deformation zone, and is almost completely surrounded by Goldcorp's claim holdings.

Commenting on the drilling results, Conquest's President & CEO, Mr. Terence McKillen, stated: "The intersection of good grade gold at this depth on Conquest's property is extremely encouraging. The gold mineralization previously encountered by Conquest in the west-central part of the Alexander Property was in trenching and shallow drilling. Goldcorp's four drill holes extend to approximate vertical depths of 450 - 570 metres representing the deepest drilled holes on the Alexander Property to date. The intersection in hole DS641 confirms gold potential exists at depth on Conquest's property."

NEW OGS REGIONAL AEROMAGNETIC SURVEY SHOWS FOUR STRUCTURALLY FAVORABLE HORIZONS ON CONQUEST'S DETOUR LAKE PROPERTIES

Toronto, Ontario - April 8, 2009 ‐ Conquest Resources Limited (TSX‐V: "CQR") is pleased to report that a newly published Ontario Geological Survey (OGS) regional airborne magnetic survey has identified four structural trends with prospectivity for gold mineralization within Conquest's two properties in the Detour Lake gold camp.

APPROVAL FOR FINANCING RECEIVED

NEW BOARD APPOINTMENT

INCENTIVE SHARE OPTIONS ISSUED

Toronto - March 13, 2009. Conquest Resources Limited (TSX-V: "CQR") reports that following its Annual and Special Meeting of Shareholders held on March 6, 2009, it has received approval from a majority of disinterested shareholders for the creation of a new Control Person resulting from its previously announced non-brokered private placement which closed in escrow on December 31, 2008. Final acceptance of the transaction has also been received from the TSX Venture Exchange.
The Company is pleased to announce the appointment of Mr. Robert Kinloch to the board of directors. Mr. Kinloch is currently President and Chief Executive Officer of Maverick Minerals Corporation based in Saskatoon. Mr. Kinloch was previously President and a director of AMT Canada Inc. and President and a director of UCO Energy Corporation. He has extensive experience in the resource sector including acquisitions in the minerals and oil and gas sectors as well as public and private company financing. He is an independent member of the board and has been appointed a member of the Audit Committee.
John F. Kearney, the Chairman of the Corporation, said: "We are delighted to welcome Rob to the board of Conquest as an independent director. He brings experience and expertise in project and company financing and development of resource opportunities as well as broadening our regional base. We look forward to working closely with him in the future development of the Company."
The Company also announces that a total of 3,200,000 incentive share options have been granted to directors, officers and an employee of the company pursuant to its Share Option Plan. The share options will be valid for a period of five years at an exercise price of $0.10 per share.

CONQUEST RAISED $500,000 IN PRIVATE PLACEMENT FINANCING

Toronto - January 7, 2009. Conquest Resources Limited (TSX-V: "CQR") reports that it has received conditional approval from the TSX Venture Exchange of its previously announced non-brokered private placement of 10,000,000 Units at a subscription price of $0.05 per unit for total proceeds of $500,000. Each Unit will be comprised of one flow-through common share and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one common share of Conquest at an exercise price of $0.10 per share for five years.

Pursuant to the requirements of the Exchange the placement was closed in escrow on December 31, 2008, pending disinterested shareholder approval of the creation of a new Control Person. John F. Kearney, the Chairman of the Corporation, subscribed for all of the Units in the placement and accordingly he has become a Control Person within the meaning of the policies of the Exchange. The proceeds of the placement will be used for the exploration of the Company's project at Red Lake, Ontario.

CONQUEST TO RAISE $500,000 IN PRIVATE PLACEMENT FINANCING

Toronto - December 30, 2008. Conquest Resources Limited (TSX-V: "CQR") reports that it has agreed, subject to regulatory approval, to a non-brokered private placement of 10,000,000 Units at a subscription price of $0.05 per unit for total proceeds of $500,000. Each Unit will be comprised of one flow-through common share and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one common share of Conquest at an exercise price of $0.10 per share for five years.
An Insider of the Corporation has subscribed for all of the Units in the placement. The subscriber has undertaken to the TSX Venture Exchange not to exercise any number of the Warrants which would result in such subscriber holding more than 20% of the issued voting shares of the Corporation until disinterested shareholder approval of the creation of a new Control Person, namely the subscriber, is obtained. The proceeds of the placement will be used for the exploration of the Company's Alexander Project at Red Lake, Ontario.

CONQUEST RECEIVES SUMMONS UNDER ONTARIO OCCUPATIONAL HEALTH & SAFETY ACT

Toronto - December 22, 2008. Conquest Resources Limited (TSX-V: "CQR") reports that it has received a Summons from the Office of the Attorney General of Ontario - Ministry of Labour, Legal Services Branch under the Occupational Health and Safety Act containing charges under that legislation relating to an accident that occurred on December 24, 2007 at its joint venture exploration project at King Bay, Sturgeon Lake, Ontario whereby an independent contractor was fatally injured. The Company denies any legal responsibility for the incident and intends to vigourously defend the charges.

DRILLING RECOMMENCES AT KING BAY

Toronto - January 8, 2008. Conquest Resources Limited (TSX-V: "CQR") is pleased to announce that it has entered in to a contract with Summit Diamond Drilling for the provision of diamond drilling services at its King Bay gold project, Sturgeon Lake, Ontario. A drill has been mobilised on to the site and has commenced the investigation of geophysical targets under the waters of King Bay that are believed to be potential sources for high grade gold mineralization previously found in distinct boulder trains along the south shore of King Bay.

Historic high-grade gold values reported by previous owners of the property from three separate boulder trains include a highest value of 521.1 g/t gold (15.2 ounces per ton) while the average grade of boulders sampled from the central boulder train is 18.2 g/t gold (0.53 ounce per ton), from the eastern boulder train is 18.9 g/t gold (0.55 ounce per ton) and 5.14 g/t gold (0.15 ounce per ton) from the western boulder train.

Drilling off ice during QR1 2007, investigated the W-Series anomalies outlined by magnetic surveys situated immediately up ice from the western boulder train. Gold mineralization was encountered in 9 holes and in all of the five W-Series anomalies. Gold mineralization occurred with blue-black quartz (BBQ) veining in altered quartz-feldspar porphyry (QFP). Four samples of BBQ veining from the W4 anomaly contained fine grained free gold (visible gold). In earlier drilling, a 34.7metre intersection returned gold assays ranging from 0.79 to 43.0 gm/t gold over narrow widths. Several of the veins contain visible gold. The most significant interval returned 22.7 gm/t gold over 0.3m, which includes a "best assay" of 43.0 gm/t gold over 0.1m, all within a 1.07 metre interval averaging 6.86 gm/t gold.

The planned drill program will focus on locating the source of the higher grade central and eastern boulder trains. An initial 500 metres of drilling is planned in several shallow holes. The King Bay Project is a joint venture between Conquest (60%) and KBG Minerals Corp. (40%).

CONQUEST DRILLING RESULTS - KING BAY

DRILLING STARTS AT KING BAY

Toronto,Ontario, Jan. 24, 2007 - Conquest Resources Limited (TSX Venture:"CQR") is pleased to announce that it has entered into an agreement with George Downing Estate Drilling Ltd. of Grenville-sur-la-Ronge, Quebec for the provision of diamond drilling services at its King Bay gold project, Sturgeon Lake, Ontario. A drill has been mobilised on to the site and will be following up a high grade gold intersection previously reported in April 2006 and other geophysical targets under the waters of King Bay. Conquest has maintained a crew on the property since early December to enhance ice thickness at King Bay in preparation for the winter drill program. An initial 1,000 to 1,500 metres of drilling is planned in eight to ten holes.

PRIVATE PLACEMENT FINANCING CLOSES

PRIVATE PLACEMENT FINANCING OF $376,500

DRILLING PLANNED AT KING BAY

Toronto - December 7, 2006. Conquest Resources Limited (TSX-V: "CQR") reports that it has agreed, subject to regulatory approval, with MineralFields and others, for the private placement of 2,896,153 Units at a subscription price of $0.13 per share. Each Unit will be comprised of one flow-through common share and one transferable non-flow-through share purchase warrant. Each share purchase warrant will entitle the holder to purchase one common share of Conquest at an exercise price of $0.20 per share within the first twelve months and at an exercise price of $0.30 per share after the first twelve month period and before the end of twenty-four months. MineralFields shall receive a 5% cash finder's fee plus reimbursement of due diligence and other expenses together with compensation options, valid for a period of twenty-four months, to purchase Units on the same terms as the Unit placement, equal in number to 10% of the units subscribed for by MineralFields. Insiders of the Corporation have subscribed for 588,463 Units of the placement (representing 20.3%). The gross proceeds of the placement will be used for the exploration of the Company's King Bay Project at Sturgeon Lake, Ontario.

Conquest is further pleased to announce that it has crews working to enhance ice thickness at King Bay in preparation for a follow-up winter drill program at the King Bay gold project with drilling planned to start in mid- to late January, 2007.

BOARD CHANGES

AURORA GOLD PROJECT UPDATE, DETOUR LAKE, ONTARIO

Toronto, June 29, 2006 - Conquest Resources Limited (TSX-V: "CQR") is pleased to announce that it has received confirmation from Trade Winds Ventures Inc. (TSX-V: TWD; FWB: TVR) that it has elected to proceed into a third year of exploration on the Aurora Gold Joint Venture Project at Detour Lake, Ontario and will undertake a further program of drilling during the upcoming winter drill season.
Trade Winds has also provided results from twelve diamond drill holes completed during the past winter which evaluated a number of induced polarization (IP) chargeability anomalies from previous surveys carried out on the Aurora property by Placer Dome. These IP anomalies, located in the eastern portion of the project area and previously untested by diamond drilling, were the focus of Trade Wind's winter 2006 program which totalled 3,324 metres. Moderately anomalous gold values up to a maximum of 2.01g/t gold were recorded over widths of 1.0 metre.

APPOINTMENT OF INVESTOR RELATIONS MANAGER

GRANTING OF INCENTIVE SHARE OPTIONS

DRILLING INTERSECTS VISIBLE GOLD AT KING BAY INTERSECTION OF 22.7 GM/T GOLD OVER 0.3 METRES

Toronto, Tuesday, April 4, 2006 - Conquest Resources Limited (TSX-V: "CQR") is pleased to announce that its winter drill program on its King Bay, Sturgeon Lake, Ontario property has intersected a quartz stockwork containing visible gold, with the most significant interval returning 22.7 gm/t gold over 0.3 meters. The recently completed drill program consisted of three holes totalling 197 meters. The holes were drilled from the ice and were designed to test several target areas under the waters of King Bay. Hole W4-01 intersected a quartz stockwork zone in a highly altered and sheared quartz- feldspar porphyry from 29.9m to 67.0m. This 34.7m intersection contained numerous blue-black quartz veins, which returned gold assays ranging from 0.79 to 43.0 gm/t gold over narrow widths. Several of the veins contain visible gold. The most significant interval returned 22.7 gm/t gold over 0.3m, which includes a "best assay" of 43.0 gm/t gold over 0.1m, all within a 1.07 metre interval averaging 6.86 gm/t gold.

DRILLING COMMENCES AT KING BAY GOLD PROJECT

Toronto - Monday, March 13, 2006. Conquest Resources Limited (TSX-V: "CQR") is pleased to announce that the drill contractor has arrived on site and that drilling has commenced on its King Bay gold project at Sturgeon Lake, Ontario. The winter drill program will comprise approximately 1,200 metres in 6-10 shallow holes. Drilling is planned to test a number of distinct magnetic targets believed to reflect a possible bedrock source of high grade gold boulders previously discovered in several well-defined boulder trains located on the south shore of King Bay.

WINTER DRILL PROGRAM STARTS ON THE AURORA PROPERTY AT DETOUR LAKE, ONTARIO

TORONTO, ONTARIO--(CCNMatthews - Feb. 16, 2006) - Conquest Resources Limited (TSX VENTURE:CQR)is pleased to report that it has been advised by joint venture partner, TradeWinds Ventures (TSX VENTURE:TWD)that a winter diamond drilling program has commenced on Conquest's Aurora gold project near Detour Lake, Ontario. The Aurora Property comprises a group of 12 leases totalling some 6,770 hectares, situated in the South Detour Lake Area, Porcupine Mining Division in the District of Cochrane, Ontario.

The Aurora Property lies approximately 4 km south of the Detour Mine and measures approximately 16 km in length, and varies from 4 to 5 km in width. TradeWinds has an option from Conquest to earn up to a 70% interest in the Aurora gold property by expending $4.4million in exploration and development prior to April 30, 2008. The first phase of the 2006 winter program entails nine NQ diamond drill holes, averaging 250 metres in length. The purpose of the program is to further evaluate the geometry and style of gold mineralization occurring within the extension of the GB Zone, the Central and Northern Shear Zones as well as untested geophysical anomalies (IP) and gold geochemical anomalies outlined from MMI soil geochemical sampling programs.

DRILLING AT KING BAY GOLD PROJECT, STURGEON LAKE

Toronto - Thursday, January 19, 2006. Conquest Resources Limited (TSX-V: "CQR") is pleased to report that it has signed a contract for a winter drill program on its King Bay Gold Project at Sturgeon Lake, northwestern Ontario. The drilling is expected to commence by the end of January and will comprise approximately 1,200 metres in 6-10 shallow holes, depending upon ice conditions at King Bay. Drilling is planned to test up to six discrete magnetic targets believed to reflect the bedrock source of high grade gold boulders previously discovered in several well-defined boulder trains on the south shore of King Bay. Attempts to drill off the ice in King Bay last year were hampered by poor ice conditions.

CONQUEST ANNOUNCES NORMAL COURSE ISSUER BID FOR UP TO 3.0 MILLION SHARES

TORONTO, ONTARIO--(CCNMatthews - Aug. 30, 2005) - Conquest Resources Limited (TSX VENTURE:CQR) announces that it has received approval from the TSX Venture Exchange ("TSXV") of its Notice of Intention to Make a Normal Course Issuer Bid (the "Bid").

Pursuant to the Bid, Conquest may purchase for cancellation up to 2,998,583 of its common shares, or approximately 5% of the issued and outstanding shares. As of August 30, 2005, there were 59,971,677 Conquest common shares issued and outstanding. The purchases will be made by Conquest through the facilities and in accordance with the rules of the TSXV, and the prices that Conquest will pay for any common shares will be the market price of such shares at the time of acquisition. Conquest will make no purchases of common shares other than open market purchases or such other means approved by the TSXV. No director, senior officer or other Insider of the Company proposes to sell securities of the Issuer during the course of the Bid.

The program will begin on September 1, 2005 and continue until August 31, 2006, or such earlier date as the Company may complete its purchases.

CONQUEST HALF YEARLY REPORT

TORONTO, ONTARIO--(CCNMatthews - Aug. 25, 2005) - Conquest Resources Limited (TSX VENTURE:CQR) reports that for the quarter and half year ended June 30, 2005 it recorded losses of $111,211 and $266,749 respectively, compared to losses of $480,748 and $659,563 in the comparable periods in 2004. At June 30, 2005 the Company held cash and short term investments of $1.2 million and marketable investments of $281,970. During the second quarter of 2005, Conquest's activities focused on property evaluation and exploration on the Alexander Property at Red Lake, the Aurora Property at Detour Lake and the King Bay Property at Sturgeon Lake, all in Ontario.

APPOINTMENT of Chief Financial Officer Following Conquest's Annual Meeting of Shareholders held on June 13, 2005, Danesh K. Varma was appointed as Chief Financial Officer of the Company. Mr. Varma is a chartered accountant and brings to the position significant experience in the junior mining sector with Canadian Zinc Corporation, Minco plc, Ovoca Resources plc, Anglesey Mining plc, and American Resource Corporation, as well as being a former director of Northgate Exploration Limited and Westfield Minerals Limited.

KING BAY DRILL RESULTS

Toronto - Thursday, March 24, 2005. Conquest Resources Limited (TSX-V: "CQR") reports that it has completed its winter drill program on its King Bay property at Sturgeon Lake, Ontario. The program comprised seven holes for a total of 865 meters of diamond drilling. Deteriorating ice conditions limited the drill program to the investigation of two of six previously identified magnetic anomalies believed to represent the source of high grade gold bearing blue-black quartz float found on the south shore of King Bay. One of the anomalies, W-3 was drilled by two holes from the land, whilst the second EC-1 was drilled with five holes from the ice.

INCENTIVE SHARE OPTIONS GRANTED

DRILLING COMMENCES AT KING BAY GOLD PROJECT, STURGEON LAKE

Toronto - Wednesday, February 9, 2005. Conquest Resources Limited (TSX-V: "CQR") is pleased to report that a drill has been mobilized on to its King Bay Gold Project at Sturgeon Lake, northwestern Ontario and that drilling has commenced. The first phase of drilling will comprise approximately 1,500 metres in 6-10 shallow holes, depending upon ice conditions at King Bay. Drilling is planned to test up to six discrete targets outlined by detailed magnetic surveys completed last winter which are believed to reflect the bedrock source of high grade gold boulders located on the south shore of King Bay. The high grade gold values were recorded in blue-black quartz boulders in three distinct "trains" with the highest value of 521.1 gm/t gold (15.2 opt). The average grade of boulders sampled from the Central train is 18.2 gm/t gold (0.53 opt) while the Eastern train averages 18.9 gm/t gold (0.55 opt) and the Western train averages 5.14 gm/t gold (0.15 opt). Significantly anomalous gold values also occur within the surrounding soils with values up to 32.9 gm/t gold (0.96 opt). The gold mineralization occurs in free form and is fine grained. It is associated with pyrite and pyrrhotite mineralization and occurs in veins associated with quartz feldspar porphyries of the North Arm plutonic suite.

SULPHIDE ZONE WITH GOLD VALUES DISCOVERED AT ALEXANDER PROJECT, RED LAKE

Toronto - Tuesday, January 25, 2005. Conquest Resources Limited (TSX-V: "CQR") reports that it completed its 2004 exploration programme on the Alexander project in Red Lake, Ontario. The exploration programme consisted of trenching, geophysical surveys and seven holes comprising approximately 2,200 metres of diamond drilling. The Alexander property is located immediately east of Goldcorp's high grade Red Lake gold mine and is almost completely surrounded by Goldcorp's property holdings. Conquest's 2004 programme at Red Lake has led to the discovery of a zone of sulphide mineralization in the south-central part of the Alexander property. Gold mineralization was intersected in four drill holes and gold values were obtained from surface trenching in the sulphide zone. Drill holes ranged between 246 metres and 387 metres in length. The Sulphide Zone has been delineated over a strike length of about 400 metres and by between 7 and 37 metres in width. In addition, gold-bearing quartz-carbonate veins were intersected within a parallel structure about 40 metres to the south.

WINTER DRILLING CAMPAIGN COMMENCES ON AURORA PROJECT AT DETOUR LAKE, ONTARIO

Toronto, Ontario, January 25, 2005 - Trade Winds Ventures Inc. (TSXV: TWD) and Conquest Resources Limited (TSX-V: CQR) are pleased to report that Trade Winds has commenced its winter diamond drilling program on the Aurora gold project near Detour Lake, Ontario. The first phase of the program entails 8 NQ diamond drill holes, each 250 metres in length. The purpose of the winter program is to further evaluate the geometry and style of gold mineralization occurring within the Aurora Project GB Zone and untested geophysical anomalies (IP) and gold geochemical anomalies outlined from this summer's MMI soil program. Earlier in the summer, a programme of Mobile Metal Ion (MMI) soil geochemical sampling was carried out over the GB Zone and surrounding area on a 200m x 25m grid. Approximately 700 samples were collected in this programme. A number of gold, silver, copper and zinc anomalies have been recorded. Interpreted gold-silver response ratios have outlined a number of anomalies in the southern structural break area, the most significant of which appears to represent two distinct parallel trends, each with a strike length of 800m and an orientation of 0700. These MMI anomalies directly overly two zones of high chargeability (IP) and may represent sulphide mineralization associated with structures oblique to the main GB Zone, which has an azimuth of 1000. Several other MMI anomalies appear to follow a similar 0700 trend, including a series of anomalous clusters covering over 1,000 metres of strike. The best drill hole by Placer Dome which intersected 58.53 g/tonne gold over 3.00m was collared within this north-easterly trending zone. The MMI response over the GB Zone comprises a number of single to multi-point anomalies intermittently along its trend.

PRIVATE PLACEMENT FINANCING OF $200,000 CLOSES

DRILLING TO COMMENCE AT KING BAY GOLD PROJECT

Toronto, January 11, 2005 - Conquest Resources Limited (TSX VENTURE:CQR) reports that the TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced December 24, 2004, and that the financing has closed. The gross proceeds of the placement will be used for the exploration of the Company's King Bay Gold Project at Sturgeon Lake, Ontario. A drilling contract has been awarded and Conquest plans to commence a first phase drill programme at King Bay in the last week of January to evaluate targets under the waters of King Bay for a total of approximately 1,500 metres of drilling in 6-10 shallow holes.

PRIVATE PLACEMENT FINANCING OF $200,000

Toronto - December 24, 2004. Conquest Resources Limited (TSX-V: "CQR") reports that it has entered into non-brokered agreements, subject to regulatory approval, for the private placement of 1,600,000 flow-through common shares at a subscription price of $0.125 per share. Insiders of the Company have subscribed for 480,000 shares of the placement (30%). The gross proceeds of the placement will be used for the exploration of the Company's King Bay Gold Project at Sturgeon Lake, Ontario.

Over the 2005 winter ice season, Conquest plans to conduct a first phase drill programme to evaluate targets under the waters of King Bay for a total of approximately 1,500 metres of drilling in 6-10 shallow drill holes.

GB ZONE AT AURORA GOLD PROJECT TESTED AT DEPTH. RETURNS 4.5GM/T GOLD OVER 2.5M. PREPARATION FOR WINTER DRILLING CAMPAIGN UNDERWAY

Toronto, Ontario - December 14, 2004) - Conquest Resources Limited (TSXV:CQR) is pleased to announce that it has been advised by joint venture partner Trade Winds Ventures Inc. (TSXV:TWD) that all assay results have been received from six NQ diamond drill holes totaling 2,326.15 metres completed in August-September on the Aurora gold project near Detour Lake, Ontario.

Results from the limited summer program indicate the GB Zone (southern break) extends to depth with strong potassic alteration and associated sulphides, quartz veining and tourmaline. Several narrow zones of gold mineralization were encountered in two holes, including a further two zones within one of the holes where visible gold mineralization was noted but which was not corroborated by the corresponding assays. Additional sampling of these sections is being reviewed.

The upcoming winter drilling program will be focused mainly along the southern break area and untested geophysical anomalies (IP) and gold geochemical anomalies. Permitting and preparation for the proposed 4,000 metre winter NQ diamond drilling program are now underway.

ALEXANDER PROJECT, RED LAKE - UPDATE

DRILLING COMMENCES

IP SURVEY CONFIRMS SULPHIDE TARGETS

Toronto, Monday, November 8, 2004. Conquest Resources Limited (TSX-V:CQR) is pleased to announce that drilling has commenced on its 100% owned Alexander gold project at Red Lake, Ontario which is located adjacent to Goldcorp's Red Lake gold mine. The program, to be completed by the end of 2004, will comprise up to 3,000 metres which will target the recently discovered zone of sulphide mineralization with coincidental geophysical and geochemical anomalies. A drill hole completed earlier this year (CR-04-24) and collared 150 metres off the eastern extremity of the zone and 50 metres to the south, intersected 12.82g/t gold (0.38 oz/t) over a width of 0.14 metres, confirming gold mineralization within the general system.

Results of a recently completed Induced Polarization (IP) survey, comprising over 9,000 metres of surveying, over the central and astern part of the Alexander property shows four parallel zones consistent with the main southeast structural trend. Three of the anomalous zones are coincidental with previously announced gold and arsenic eochemical anomalies.

ALEXANDER PROJECT, RED LAKE, UPDATE

NEW GOLD ZONES DISCOVERED

UP TO 3,000 METRES OF DRILLING PLANNED

CONQUEST OPTIONS HIGH GRADE KING BAY GOLD PROJECT AT STURGEON LAKE, ONTARIO

Toronto, Thursday August 26, 2004 - Conquest Resources Limited (TSX-V: "CQR") is pleased to announce that it has entered into an option and joint venture agreement with KBG Minerals Corp. ("KBG") pursuant to which Conquest may earn a 60% working interest in KBG's King Bay Gold Project by expending $600,000 on exploration prior to April 30, 2008, of which $200,000 is a firm commitment to be expended prior to April 30, 2006. Upon Conquest acquiring its interest, a joint venture will be constituted with Conquest, the Operator of the venture and KBG having an initial working interest of 60% and 40% respectively. If either party's working interest is reduced below 10%, the interest will be converted to a 10% net profits royalty.

DRILLING COMMENCES AT AURORA GOLD PROJECT (DETOUR LAKE)

EXPLORATION UPDATE

$2.8 MILLION EXPLORATION PROGRAMME PLANNED ON CANADIAN PROPERTIES

14,000 METRES OF DRILLING PLANNED FOR FALL AND WINTER

ALEXANDER PROJECT, RED LAKE - DRILL RESULTS

Toronto, Wednesday, April 21, 2004 - Conquest Resources Limited (TSX-V: "CQR") is pleased to announce the results of a recently completed diamond drill programme on its 100% owned Alexander Property located adjacent to Goldcorp's Red Lake mine in northwestern Ontario. The 15-hole programme comprised 3,441 metres of drilling in three parts of the property: Southwest, Central and East areas.

Significant gold values and related alteration have been encountered in several holes along a 2,000 metre long easterly trend, which broadly represents a shear zone identified in previous drilling and by geophysical surveys. Results include12.82g/t gold over 0.14 m in hole CR-04-20, 5.49g/t gold over 0.12 m in hole CR-04-24 and 4.42g/t gold over 0.7 m in hole CR-04-17, together with additional values in the 1g/t to 3g/t gold range over widths of 0.16 to 1.0 metres (see attached table). Gold mineralization has been discovered over narrow widths in the footwall and hangingwall basalts as well as in the central diorite intrusive.

The drill campaign was conducted from January to March 2004 and was designed to test structural features identified from the interpretation of geophysical survey data and geochemical anomalies identified by a programme of soil sampling and Mobile Metal Ion (MMI) analysis completed in 2003.

Eleven of the 15 holes encountered anomalous gold values and/or alteration features considered indicative of potential gold mineralization while 4 encountered significant gold mineralization.

Although the drill holes were relatively shallow (average of 160 metres vertical depth), the results confirm the presence of gold bearing structures on the Alexander property and justify more detailed and deeper drilling in the next phase of drilling being planned for later this year.

CONQUEST OPTIONS PART OF AURORA PROPERTY TO TRADE WINDS VENTURES INC.

Vancouver, British Columbia, April 13, 2004 - Trade Winds Ventures Inc. (TSXV: TWD) and Conquest Resources Limited - (TSXV: CQR) jointly announce that they have entered into an Option Agreement for Trade Winds to acquire a 60% interest in Conquest's Aurora (Main) gold property in the Detour Lake Camp. Conquest will retain its 90% interest in two additional claim blocks comprising the Aurora Property which are not part of the Option with Trade Winds - the Sunday Lake and Nash Creek Properties comprise 1,568 hectares and are situated respectively 4.5km east of the Detour mine and 4.5km southeast of the main Aurora Property.

INCREASES INTEREST IN AURORA PROJECT, DETOUR LAKE, ONTARIO

Toronto, Friday, March 5, 2004 - Conquest Resources Limited (TSX-V: "CQR") announces that it has reached agreement with joint venture partner Prism Resources Inc. ("Prism") whereby Conquest will increase its interest in the Aurora gold joint venture in northeastern Ontario from 60% to 90% and under certain circumstances, Conquest's interest can increase to 100%. Conquest's interest in the joint venture has increased due to Conquest's higher level of participation in planned 2004 programmes. The Aurora Project is located in the Detour Lake Gold Camp which is currently subject to significant revival of interest by a number of companies.

RECEIVES REGULATORY APPROVAL FOR ROCK AND ROLL CLAIMS

COMPLETION OF DEBENTURE CONVERSION

CONQUEST & NEWCASTLE OPTION ISKUT RIVER PROPERTY ACQUIRING INTEREST IN GOLD, SILVER, COPPER, ZINC MINERAL RESOURCE

DRILLING COMMENCES AT RED LAKE, ONTARIO

CORPORATE UPDATE

CLOSING OF $1,022,370 FINANCING

CONVERSION OF DEBENTURES

DRILLING TO COMMENCE AT RED LAKE

OPTIONS NORTHWEST BRITISH COLUMBIA PROPERTY FROM NEWCASTLE MINERALS

PRIVATE PLACEMENT FINANCING OF UP TO $1,532,500

ALEXANDER PROJECT, RED LAKE, ONTARIO

DETAILED MMI GEOCHEMICAL SAMPLING COMPLETED

DRILLING TO START

COMPLETES ACQUISITION OF INTEREST IN ALEXANDER PROJECT, RED LAKE

SALE OF OXUS SHARES ADDS FURTHER $831,000 TO WORKING CAPITAL

COMMENCES FOLLOW-UP EXPLORATION FOR DRILLING

Sale of Shares in Oxus
In recent weeks, Conquest has sold 800,000 common shares of Oxus Gold plc for total proceeds of approximately $831,000 which will be added to working capital. This is in addition to the $1,277,168 private placement financing recently completed. Conquest still holds 450,000 shares of Oxus Gold plc as well as 250,000 options at an exercise price of £0.25. The current value of this holding is about $800,000.

CLOSING OF PRIVATE PLACEMENT FINANCING OF $1,277,168

CLOSING OF PRIVATE PLACEMENT FINANCING OF $1,277,168

PRIVATE PLACEMENT FINANCING OF $1,277,168

PRIVATE PLACEMENT FINANCING OF UP TO $1,187,500

ALEXANDER PROPERTY - RED LAKE UPDATE

SHEAR ZONE IS ASSOCIATED WITH GOLD AND ARSENIC SOIL ANOMALIES

TWO PARALLEL LINEAMENTS IDENTIFIED

WORK BY GOLDCORP INDICATES ANOMALOUS GOLD

Toronto - August 5, 2003. Conquest Resources Limited (TSX-V: "CQR") has completed further evaluation of geophysical and geochemical data relating to its Alexander property at Red Lake, Ontario. In addition, a Goldcorp report, on open file, records a significant geochemical anomaly for gold in soils located on Conquest's Alexander property.

A new shear structure referred to as the Main Shear (previously reported), lying within the Mine Trend, has been traced across Conquest's Alexander property for 3,500 metres based upon airborne and ground geophysical surveys and by drilling.

ALEXANDER PROJECT - RED LAKE UPDATE

AIRBORNE AND GROUND GEOPHYSICS CONFIRM NEW SHEAR ZONE

NEW TARGETS IDENTIFIED FOR EXPLORATION

Toronto - July 8, 2003. Conquest Resources Limited (TSX-V: "CQR") has completed a review of airborne and ground geophysical data from magnetometer and VLF EM surveys completed on its Alexander claims at Red Lake, Ontario.

Results reported here confirm the continuation of the main Red Lake Mine Trend, with indications of gold mineralization, onto Conquest's Alexander claims. The "new shear", reported here to lie within the Mine Trend, has now been traced across Conquest's entire property and appears to be the easterly strike continuation of a "Second Order" Gold Bearing Lineam ent, or Shear, that starts at Goldcorp's Number 1 Production Shaft.

ALEXANDER PROJECT - RED LAKE DRILLING UPDATE

ZONES OF SULPHIDE MINERALIZATION INTERSECTED

NEW GOLD BEARING STRUCTURE IDENTIFIED

Toronto - June 4, 2003. Conquest Resources Limited (TSX-V: "CQR") reports that it has received and compiled all results from the first phase of drilling on its Alexander Gold Project located in Balmer Township, Red Lake Mining District, Ontario, immediately east of the Goldcorp Inc. high grade Red Lake gold mine.

Target
Conquest's Alexander Property is situated immediately adjacent to and along strike from the two producing Red Lake mines which have over 20 million ounces of gold resources (current resources plus past production). The target is an extension or repetition of the mineralization at the Red Lake mines.

Comment
Commenting on the results of the Alexander drilling, Conquest President & CEO, Terence N. McKillen, stated that: "The programme has identified a mineralized shear zone on Conquest's Property with gold bearing sulphides typical of the mineralization surrounding the Goldcorp and Campbell Red Lake mines. Although the gold grades are low, the presence of gold mineralization together with evidence of hydrothermal alteration within the shear system are considered very important. The new gold-bearing structure may have a considerable strike potential across the Property." Mr. McKillen also added that: "We have identified both shear structure and gold bearing sulphide mineralization on Conquest's Property in a very limited drill programme with the deepest hole reaching only 240 metres. We remain very excited about the potential of the Alexander Property where we have now developed numerous targets for follow-up investigation on only a very limited portion of the Property."

AURORA DRILLING UPDATE

NEW ZONE OF GOLD MINERALIZATION DISCOVERED

GOLD MINERALIZATION CONFIRMED OVER 1,800m STRIKE

APPLICATION TO EXTEND TERM OF WARRANTS

Toronto - May 22, 2003. Conquest Resources Limited (TSX-V: "CQR") reports that it has received final results from the first phase of drilling on its Aurora Gold Project located in the Detour Lake area of the northern Abitibi Greenstone Belt, approximately 175 air kilometres northeast of Timmins, Ontario.

Target
During the winter of 2003, Conquest completed an exploration programme comprising eight drill holes for a total of 1,532 metres of drilling on the Aurora gold prospect. The Aurora property comprises 12 leases located approximately 4km south of Placer Dome's former Detour gold mine which produced 1.6 million ounces of gold between 1983 and 1998. The target is a repetition of the Detour mine on a parallel shear zone within an almost identical geological setting which has been largely untested to date and which was the subject of a major exploration programme by Placer Dome which was abandoned prematurely at the time of the shutdown of the Detour mine in 1998.

Conquest's programme was designed to explore two areas of known high grade gold mineralization within the Golden Borealis Zone (GB Zone) and to test, for the first time, the Sagimeo Lake Shear (SLS Zone), interpreted from airborne geophysical data.

CONQUEST EXCHANGES JEROOY HOLDING

JEROOY LICENCE REINSTATED

Toronto - May 12, 2003. Conquest Resources Limited (TSX-V: "CQR") is pleased to report, that following successful negotiations with the Government of the Kyrgyz Republic and partners Oxus Mining plc and JSC Kyrgyzaltyn, the Licence to develop the Jerooy Gold Deposit in the Talas Region of the Kyrgyz Republic has now been reinstated. The new Licence Agreement was signed in Bishkek on May 7, 2003.

Pursuant to an option and joint venture agreement dated May 1, 2002, as amended, between Conquest and Oxus, Conquest may earn in stages up to an initial 10% effective interest in the Jerooy gold project, together with the option to acquire in stages, subject to regulatory approval, up to a 66.67% effective interest in the project.

ALEXANDER PROPERTY, RED LAKE - DRILLING UPDATE

Toronto - April 2, 2003. Conquest Resources Limited (TSX-V: "CQR") reports that five holes of a planned 10 hole winter drilling program have been completed on the Alexander Property, located in Balmer Township, immediately east of the Goldcorp Inc. high grade Red Lake gold mine, in the Red Lake mining district of northwestern Ontario. Holes CR-03-01 to CR-03-05 have been completed.

An initial fence of 9 holes is located on section line 4+00m E, which is located approximately 600 metres east of the claim boundary with the Goldcorp mine property. The holes are being drilled to provide preliminary geological information (alteration, structure, sulphide mineralization) on the western part of the Alexander Property and to assist in the development of drilling targets.

CONQUEST AMENDS AGREEMENT WITH DETOUR GOLD CORPORATION ON CONQUEST'S PROPERTIES ADJACENT TO DETOUR LAKE GOLD PROJECT

Toronto, Ontario - August 10, 2010 | Conquest Resources Limited (TSX-V: "CQR") announces that it has amended a previously executed letter agreement with Detour Gold Corporation ("Detour Gold") pursuant to which Detour Gold will purchase Conquest's interest in the Aurora Property and will have an option to acquire a 50% interest in Conquest's Sunday Lake Property.

Conquest has now entered into a separate agreement with NVI Mining Ltd. ("NVI"), an indirect wholly-owned subsidiary of Breakwater Resources Ltd., to purchase the remaining 40% interest that it does not already own in the Aurora and Sunday Lake properties located in the Detour Lake area, Ontario and to purchase the 2% net smelter royalty interest therein held by NVI. The consideration for the acquisition from NVI is $1.0 million to be satisfied through the payment by Conquest of $500,000 in cash and the issuance, subject to regulatory approval, of 3,125,000 shares of Conquest.

Under the amended agreement with Detour Gold, Conquest will convey to Detour Gold, subject to regulatory and other approvals, a 100% undivided interest in the Aurora Property free and clear of the 2% net smelter royalty. The consideration has been amended to a cash consideration of $2.0 million, rather than $1.0 million, to reflect that at the time of Detour Gold's acquisition from Conquest the Aurora Property and the Sunday Lake Property will not be subject to the 2% net smelter royalty and that Detour Gold will not be obligated to incur any exploration expenditures other than the Sunday Lake Expenditures (as defined below). The consideration will still include the issuance, subject to regulatory approval, of 100,000 shares of Detour Gold to Conquest. In addition, Detour Gold will have an option to acquire a 50% joint venture interest in the Sunday Lake Property by completing $1.0 million in exploration expenditures on the Sunday Lake Property (the "Sunday Lake Expenditures") over the next two years with a minimum of $500,000 prior to August 31, 2011. The Aurora Property and the Sunday Lake Property each remain subject to an interest held by Prism Resources Inc. equal to 7.5% of the net profits from the properties.

The Sunday Lake Property lies immediately east of Detour Gold's Detour Lake Project, along the eastern extension of the Sunday Lake Deformation Zone, in what is believed to be a prospective area of this relatively under-explored part of the Abitibi Greenstone Belt. The Aurora Property lies south of Detour Gold's Detour Lake Project. Detour Gold is acquiring the Aurora Property to accommodate the infrastructure requirements for the development of its Detour Lake mine.

COMMENT
"We are very pleased to have reached an agreement with Breakwater and a revised agreement with Detour Gold which will be beneficial for all parties," said Terence McKillen, President and Chief Executive of Conquest. "The amended agreement will result in a transaction value to Conquest of approximately $4 million of which $1 million will offset the acquisition by Conquest from Breakwater of the 40% interest in the properties that it did not previously own as well as the purchase of the outstanding royalty interest. In addition, as part of the agreement, Detour Gold will expend a minimum of $1 million on the Sunday Lake Property over a two year period with a minimum of $500,000 per year. Detour Gold's geological knowledge and expertise in the area will be invaluable in the future exploration on the Sunday Lake Property," added Mr. McKillen.