Mr. James Newall reports

QUEST CRITICAL METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OFFERING OF UP TO $1,500,000

Quest Critical Metals Inc. has arranged a non-brokered private placement to raise up to $1.5-million through the issuance of up to 21,428,572 units at a price of seven cents per unit.

Each unit will comprise one common share in the authorized share structure of the company and one common share purchase warrant of the company. Each warrant entitles the holder to purchase one additional common share of the company at a price of 14 cents per warrant share for a period of 12 months from the date of closing.

The closing of the private placement may take place in one or more tranches, as determined by the company, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval from the Canadian Securities Exchange.

All securities issued in connection with the private placement will be subject to a statutory hold period of four months and one day following the date of issuance, in accordance with applicable Canadian securities laws.

The company may pay certain eligible finders a cash fee of up to 6 per cent of the gross proceeds raised in respect of the private placement from subscribers introduced by such finders to the company.

The gross proceeds of the private placement will be used for an initial drill program at the company's Tisova Klingenthal copper-cobalt property, and for general corporate and working capital purposes. The Tisova property is drill-ready, following a geophysical survey that identified a very large, untested anomaly and confirmed the reinterpretation of the deposit as a VMS-style (volcanogenic massive sulphide) deposit.

In conjunction with the initial drill program, a geochemical survey will be conducted on a prospective area identified by the EIS (exploration information system) software tool that has been created by the EIS European Union grant-funded project. This will be funded entirely by the EIS project.

Quest's Tisova/Klingentha licence area is centred on the Tisova mine, which was actively mined from 1627 until 1970. The historical sulphide zones contained grades of up to 17.1 per cent copper, 0.69 per cent cobalt and 3.7 grams per tonne gold.

We seek Safe Harbor.