Conquest Resources Ltd. (CQRLF)

[NYBob]

CONQUEST CLOSES TRANSACTIONS WITH DETOUR GOLD ON PROPERTIES ADJACENT TO DETOUR LAKE GOLD PROJECT



Release Date: 27-09-2010
Toronto, Ontario - September 27, 2010

Conquest Resources Limited -
(TSX-V: "CQR") announces that it has closed previously announced
transactions with Detour Gold Corporation ("Detour Gold") and
with NVI Mining Ltd. ("NVI"), an indirect wholly-owned subsidiary
of Breakwater Resources Ltd. ("Breakwater") relating to
Conquest's Aurora and Sunday Lake properties located in
the Detour Lake area of northeastern Ontario adjacent
to the Detour Lake Gold Project.

Pursuant to these transactions Conquest has:

* acquired from NVI the remaining 40% interest that it did not
already own in the Aurora and Sunday Lake properties,
together with NVI's 2% net smelter royalty interest in such properties,
for $1.0 million which was satisfied through the payment by
Conquest of $500,000 in cash and the issuance to NVI (Breakwater)
of 3,125,000 shares of Conquest; and

o sold to Detour Gold a 100% interest in the Aurora
Property for $2.0 million in cash and 100,000 shares of Detour Gold
and has granted Detour Gold an option to acquire a 50% joint venture
interest in Sunday Lake Property by incurring $1.0 million in
exploration expenditures on the Sunday Lake Property over the next
two years with a minimum of $500,000 prior to September 30, 2011.

The Sunday Lake Property -
lies immediately east of Detour Gold's Detour Lake Project, along
the eastern extension of the Sunday Lake Deformation Zone.
The joint venture option on the Sunday Lake Claims will allow
Detour Gold to further expand its interest in what is believed
to be a prospective area of this relatively under-explored portion
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 and to further expand its regional exploration program.
The Aurora Property and the Sunday Lake Property each remain subject
to a 7.5% net profits interest held by Prism Resources Inc. which,
in the case of the Aurora Property, has been assumed by Detour Gold.

COMMENT

"We are very pleased to have concluded these transactions
with Breakwater and Detour Gold which will be beneficial for
all parties," said John Kearney, Chairman of Conquest.
"The deals have resulted in a transaction value to Conquest
of approximately $5.0 million of which $1 million offsets the
acquisition by Conquest from Breakwater of the outstanding 40%
interest and 2% royalty interest in the properties.
We look forward to working with Detour Gold, with its expertise
and extensive geological knowledge and understanding of the area,
to further explore the Sunday Lake Property."
added Mr. Kearney.

About Detour Gold

Detour Gold is a Canadian gold exploration and development company
whose primary focus is to advance the development of its flagship
Detour Lake gold project located in northeastern Ontario towards
production.

ABOUT CONQUEST

Conquest is exploring several gold projects in Ontario.
These include the Alexander Gold Project at Red Lake;
the Aurora and Sunday Lake properties at Detour Lake;
the King Bay Gold Project at Sturgeon Lake (60% interest);
and the Smith Lake Gold Project at Missanabie.

There are 86,838,637 shares of Conquest issued and outstanding
after giving effect to these transactions.

This news release may include certain "forward-looking
statements"---from Conquest's expectations are exploration risks
detailed herein and from time to time in the filings made by Conquest
with securities regulators.

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or the accuracy of this release.

For more information, please contact
Conquest Resources Limited
Terence N. McKillen
President & CEO
647-728-4126
or
Conquest Resources Limited
John F. Kearney
Chairman
416-362-6686
[e-mail]
http://www.conquestresources.net



http://www.conquestresources.net/pdfs/CQR_Investor_Presentation.pdf

http://www.conquestresources.net/project_details.php?pid=2&s=o

The Detour Lake deposit is now Canada's largest undeveloped gold reserve
with 11.4 million ounces.
The positive results of the feasibility study confirmed
the Detour Lake deposit as a future significant gold producer
with an average annual gold production of 649,000 ounces over a
mine life of 16 years.
The Company plans to start mine development by late 2010,
subject to obtaining receipt of Provincial permits and
finalizing Aboriginal agreements.
With gold production expected to commence in early 2013,
Detour Lake will be among the largest gold operations
in North America.