Conquest Resources Ltd (CQR)

[NYBob]

Conquest Commences Drilling at Its Smith Lake Gold Property
in Northern Ontario

TORONTO, ONTARIO--(Marketwire - Feb. 8, 2012) -

Conquest Resources Limited -
(TSX VENTURE:CQR) reports that it has commenced a 2,500 metre
diamond drilling program at its 100% owned Smith Lake Gold
Property, located within the Missanabie-Goudreau Greenstone
Belt, in northern Ontario.

Summit Drilling Services Inc. has been contracted to operate
their lightweight drilling equipment for an estimated three
months of BQ-sized exploration core drilling.
A total of 20 planned drill holes have been designed to test
near surface vein systems and other structural targets on
the property.

The first four holes of the program have been planned to follow
up Conquest's high grade 63.3 grams per tonne (g/t) gold
intersection from hole CSL-11-001 (as previously reported -
see Press Release dated September 19, 2011)
in the Company's 2011 autumn drilling program.

Second order priority holes will target east-west oriented
structures near the northern extension of the north-south
oriented Braminco Shear Zone.

Additional targets have been identified at sites with coincident
structural and Mobile Metal Ion ("MMI") surface
geochemical anomalies.

ABOUT THE SMITH LAKE PROPERTY

Conquest's Smith Lake Property consists of six patented mining
claims and 24 contiguous mining claims comprising over a 50
square kilometer area that is located contiguous with the
former Barrick/Homestake Renabie Gold Mine which closed in
1991 having produced more than 1,000,000 ounces of gold
since 1941 from reported reserves of approximately 6 million
tonnes at an average grade of 6.6 grams per tonne gold
and 2 grams per tonne silver.

During 2011, Conquest completed 1,109 metres of diamond drilling
on Conquest's 100% owned patented mining claims at Smith Lake.
The most significant gold intersection on the Smith Lake
Property was located in the first drill hole of the program
grading 63.3 grams per tonne (g/t) of gold over 0.28 metres
within a mineralized quartz vein in hole CSL-11-001.
Of a total 318 samples collected from the ten hole program,
30 samples returned anomalous assays ranging from 0.25 g/t
to 63.3 g/t gold over 0.22 to 1.50 metres in
core length thickness.

Gold mineralization in the Renabie area is the result of
repetitive hydraulic fracturing and shear zone inflation
within Archean-aged granitoid intrusives.
The repetitive nature of veining results in ribbon textured
veining that is strongly controlled by two main structural
trends oriented east-west and northwest-southeast, both of
which are present on Conquest's patented mining claim group
at Smith Lake.

QUALIFIED PERSON

Information of a scientific or technical nature contained
in this release has been prepared by or under the supervision
of Terence McKillen, P.Geo., the Chief Executive Officer
and Benjamin Batson, P. Geo., the Vice Present of Exploration
of the Company, both of whom are Qualified Persons within
the meaning of National Instrument 43-101 of the
Canadian Securities Administrators.

Samples were analyzed by AGAT Laboratories in Mississauga,
Ontario using a 50 gram pulp fire assay technique with
ICP-OES finish.
AGAT employs the use standards, blanks and duplicate samples
to calibrate on a regular basis within batches.

ABOUT THE COMPANY

Conquest is exploring several gold projects in Ontario.
These include the Alexander Gold Project at Red Lake;
the Sunday Lake property at Detour Lake in joint venture
with Detour Gold Corporation;
and, the Smith Lake Gold Project at Missanabie.

Conquest and Detour Gold Corporation are exploring for
structurally-hosted gold mineralization under a joint-venture
agreement at the Sunday Lake property located along
the Sunday Lake Deformation Zone approximately seven
kilometers east of Detour Gold's 15.6 million ounce
planned open pit gold mine.
Detour Gold, as operator, has agreed to expend $1,000,000
on exploration prior to September 30, 2012 to earn a
50% interest in the Sunday Lake Property.
Detour Gold completed 1,600 metres of exploration drilling
during winter 2011 and is currently planning a 2,000 metre
winter drilling program for 2012.

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

http://www.conquestresources.net/pdfs/2012%2002%2006%20CQR%20Smith%20Lake%20Winter%20Drilling%20StartUp.pdf

CQR reported 68 gram per tonne gold intersection over 1.68 metres (2.2 ounces per ton gold over 6 feet) -

http://www.conquestresources.net/pdfs/CQR%20-2011%2009%2014%20-%20NR%20re%20Smith%20Lake%20(3).pdf


Ore Train in Gold Mine Renabie, Ontario, Canada -

CONQUEST INTERSECTS 63 G/T GOLD OVER 0.28 METRES AT SMITH LAKE PROPERTY -

http://www.conquestresources.net/pdfs/Revised%20CQR%20(Smith%20Drilling)%2020110919.pdf

http://investorshub.advfn.com/boards/board.aspx?board_id=11788

http://www.conquestresources.net/

Renabie Gold Mine - short history -



The company’s first acquisition was the Renabie mine,
near Wawa, Ontario,

http://www.conquestresources.net/

http://www.conquestresources.net/project_details.php?pid=16&s=o



- which produced around 16,000 ounces of gold in 1984.
In 1984, Barrick Gold acquired Camflo Mining, which had
operations in the province of Quebec and in
the U.S. state of Nevada.
Barrick’s effort to purchase was slowed by skepticism the
company could assume Camflo’s debt of around $100 million.
The sale was finalized in May, 1984, with terms that obligated
Barrick Gold to repay the debt to The Royal Bank of Canada
within one year.
The debt was fully paid in January, 1985.
Barrick Resources acquisition was Mercur mine in Mercur, Utah
in June 1985, followed by the Gold Strike Mine, Nevada in 1986.
Gold Strike Mine is in Carlin trend, estimated producing
100 million ounces of gold. - GOLD AND SILVER

history often repeat itself -

Read more at:
http://www.goldsilverdailyprice.com/2011/07/barrick-gold.html


God Bless