­ Lithoquest Resources Inc. announced that it has entered into an Option Agreement to acquire a 100% interest in the 615ha Gold Standard Project located in northwest Ontario. The Company has also staked an additional 252 mineral claims surrounding the Gold Standard property, bringing the total project area to 5,953 ha. The Option Agreement contemplates Lithoquest earning a 100% interest in the Gold Standard mineral claims from Messrs.

Allan Onchulenko and Peter Gehrels (the "Vendors") by making the scheduled payments defined in Table 1. This acquisition is part of the Company's ongoing process to actively review mineral properties with the objective of securing projects that offer significant discovery potential. Taken together with the Company's commanding land position in the Fort Hope Greenstone Belt, Lithoquest now has projects that range from grassroots to early discovery. The Miminiska Project continues to be the Company's primary focus.

Core from the recent drill program has now been logged in detail and approximately 800 samples have been submitted to an accredited laboratory for assay. Results are expected before the end of Q2. Miminiska is located within the traditional territory of the Eabametoong First Nation (the "EFN").

Lithoquest has submitted project information to the EFN that follows their engagement protocols and the Company looks forward to feedback from community members.