Conquest Resources Ltd (CQR)

[NYBob]

Conquest Resources Limited - Gold mineralization intersected in all
six holes from drilling at Red Lake

- New high grade gold mineralization reported by Goldcorp in Far East
Zone adjacent to
Conquest'S Alexander Gold- Project -


http://www.conquestresources.net/images/30.jpg

TORONTO, Dec. 18 /CNW/ -

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 north western Ontario.


http://www.conquestresources.net/images/l_banner_1.jpg

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 Lakegold 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 Presidentand 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.

-------------------------------------------------------------------------
Hole From(m) To(m) Intersection Dip of Hole Grade
Width(m) (degrees) (g/t)
-------------------------------------------------------------------------
CR-09-033* 129.07 129.32 0.25 -50 8.32
-------------------------------------------------------------------------
CR-09-034* 135.03 139.00 3.97 -50 1.39
-------------------------------------------------------------------------
(includes) 1.50 3.10
-------------------------------------------------------------------------
CR-09-034* 205.41 208.88 3.47 -50 1.80
-------------------------------------------------------------------------
(includes) 0.39 9.64
-------------------------------------------------------------------------
CR-09-035* 89.35 89.85 0.50 -50 1.46
-------------------------------------------------------------------------
CR-09-036* 233.00 233.30 0.30 -50 1.08
-------------------------------------------------------------------------
CR-09-037 487.00 488.00 1.00 -50 7.76
-------------------------------------------------------------------------
CR-09-037 656.08 658.00 1.92 -50 4.05
-------------------------------------------------------------------------
CR-09-038 17.81 18.81 1.00 -55 4.97
-------------------------------------------------------------------------
CR-09-038 106.50 108.00 1.50 -55 3.92
-------------------------------------------------------------------------
*Previously released November 23, 2009

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 0.50 g/t over 0.68 m.

As part of the ongoing exploration on the property, Conquest will also be targeting the extensive untested

horizons that exist within theBalmer volcanics below the recently drilled holes in the western part of

the Alexander property.

PROXIMITY TO GOLDCORP'S NEW HIGH GRADE GOLD MINERALIZATION

On November 24, 2009, in a Press Release entitled: "Goldcorp Provides Update On 2009 Exploration Program,"

Goldcorp Inc. announced that:
"A new and growing area of high grade gold called the Far East Zone

has been identified up-plunge from theHigh Grade Zone."

Goldcorp further stated: "Up-plunge and to the east of the Red LakeHigh Grade Zone lies an underexplored area called the Far East Zone.
Assay results in 2009 indicate an ore grade gold zone at the 16 level
that will
continue to be tested as drilling moves closer to thesurface."

Results from two underground exploration drill holes conducted in Goldcorp's 2009 programme were reported

in Red Lake Drilling Results as: "29.83 g/t gold over 9.24 metres and

31.70 g/t over 4.00 m"(reported over approximate true widths).

Conquest interprets these high grade intersections to be located approximately 400 metres from

Conquest's western property boundary at approximately 700 metres depth.

Goldcorp's continued exploration in thearea between the Balmer Complex shaft at the Red Lake gold mine

andConquest's Alexander property continues to demonstrate highlyprospective, mineralized horizons in rocks

which Conquest believes aresimilar to those which have been identified from surface to 700 metres vertical depth

across the Alexander property.

ONGOING EXPLORATION

Key targets within the Balmer assemblage are chiefly volcanic inorigin with significant sedimentary

interbedded lithologies.

The most important exploration target horizons exist in sheared andquartz-carbonate altered target structures

that are contained withinthe southwest dipping northern limb of the Balmer syncline.

These altered horizons have been discovered to widen at depth providing abroad target horizon

in the western Alexander area closest to Goldcorp's Far East Zone.

The timing of Goldcorp's exploration update and the proximity oftheir new high grade gold mineralization

to the Alexander property is significant and provides additional encouragement as Conquest continues

its systematic deepening of the geological model.

Conquest's Phase Two drilling planned for 2010 will drill-test targets to vertical depths

between 1,300 and 1,700 metres to evaluatethe untested extensions of similar structures

found in the Goldcorpmine below the western part of the Alexander property.

ABOUT THE ALEXANDER PROPERTY

Conquest's Alexander gold project is located in Balmer Townshipin the heart of the Red Lake Gold Camp.

It is situated within the "MineTrend" structural corridor adjacent to Goldcorp's Red Lake

and Campbell gold mines, which contain historic production and current resources

in excess of 28 million ounces of gold, and approximately 1,000 metreseast of

the Red Lake Complex shaft headframe and within 400 metres ofthe Far East gold zone

at the Red Lake Mine.

QUALIFIED PERSON

Information of a scientific or technical nature contained inthis release has been prepared by or under

the supervision of Terence McKillen, P.Geo., the Chief Executive Officer of the Corporation and a Qualified Person

within the meaning of National Instrument 43-101 ofthe Canadian Securities Administrators.

Samples were fire assayed forgold content by SGS Mineral Services in Red Lake, Ontario with theregular use

of standards and blanks for quality control. All holes weresurveyed by Reflex Instruments Canada

using a gyro tool.

ABOUT THE COMPANY

Conquest is exploring several gold projects in Ontario.

These include theAlexander GoldProject at Red Lake;

the Aurora andSunday Lakeproperties at Detour Lake;

theKing Bay Gold Projectat Sturgeon Lake (60% interest);

and the Smith Lake Gold Project at Missanabie.

There are currently 72,663,830 shares of Conquest issued and outstanding.

This news release may include certain "forward-looking statements".

Allstatementsotherthanstatementsof historical fact, included inthisrelease,including,withoutlimitation, statementsregardingpotentialmineralization,resources andreserves, explorationresults,and futureplans andobjectives of Conquest,areforward-lookingstatements thatinvolvevarious risks anduncertainties.There can be noassurance thatsuchstatements will prove tobe accurateand actualresults and futureeventscould differ materiallyfrom thoseanticipatedin suchstatements.Important factors that couldcause actualresults todiffermateriallyfrom Conquest's expectations areexplorationrisksdetailedherein andfrom time to time in the filings madebyConquestwithsecuritiesregulators.

Neither the TSXVentureExchangenor its RegulationServicesProvider (as that term isdefinedin thepolicies of the TSXVentureExchange) accepts responsibilityfortheadequacy or the accuracyofthis release.

For further information:

Terence N. McKillen,President & CEO, [phone];

D. Brett Whitelaw, Vice-President,[phone];

John F. Kearney, Chairman, [phone],

Email: [e-mail],

URL: http://www.conquestresources.net