Mr. Robert Dickinson reports

QUARTZ MOUNTAIN COMPLETES 1,445 METRES OF CORE DRILLING AT MAESTRO, BC

Quartz Mountain Resources Ltd. has completed 1,445 metres of core drilling in two holes at the Prodigy Au-Ag-Mo-Cu (gold-silver-molybdenum-copper) epithermal target on its Maestro property, located 15 kilometres north of Houston, B.C. The Prodigy epithermal deposit target is hosted within an extensive porphyry-type mineral system. It is located approximately one kilometre north of the Lone Pine molybdenum deposit, which hosts measured and indicated resources, at a 0.04-per-cent Mo cut-off, of 110 million tonnes (Mt) grading 0.08 per cent Mo (National Instrument 43-101 technical report and preliminary economic assessment, P & E Mining Consultants Inc., Jan. 21, 2011). The Lone Pine deposit is not on the Maestro property. The 2,140-hectare Maestro property completely surrounds the Lone Pine deposit to cover the potential epithermal precious metal systems occurring outboard of that porphyry Mo-Cu deposit. The geological setting at Maestro is thought by management to have some similarities to that of the Blackwater-Davidson project of Artemis Gold Inc. near Vanderhoof.

The drill program was diligently and safely completed by Apex Diamond Drilling Ltd., from nearby Smithers.

Approximately 482 core samples have now been received by ALS Global in Vancouver for analyses. Results from the two holes will be released once they are received and compiled, likely early in the new year.

Qualified person

Farshad Shirmohammad, MSc, PGeo, a qualified person as defined under National Instrument 43-101, who is not independent of Quartz Mountain Resources, has reviewed and approved the technical content of this news release.

About Quartz Mountain Resources Ltd.

Quartz Mountain is a restructured mineral exploration company in Vancouver, Canada. It is focused on acquiring, exploring, developing and transacting high-value gold, silver and copper projects. The company holds 100 per cent of the Maestro epithermal gold-silver-molybdenum-copper property and 100 per cent of the Jake porphyry copper-gold-silver property, both located in British Columbia. Projects are selected under Quartz Mountain's key acquisition principles: easy access to infrastructure, high potential for major resources and future significant transaction potential.

Quartz Mountain is associated with Hunter Dickinson Inc. (HDI), a company with over 35 years of successfully discovering, developing and transacting mineral projects in Canada and internationally. Former HDI projects in B.C. included Mount Milligan, Kemess South and Gibraltar -- all of which are porphyry deposits with current or former-producing mines. Other well known projects with HDI involvement include Sisson and Prosperity in Canada, Pebble and Florence in the United States, and Xietongmen in China.

Quartz Mountain is committed to the advancement of critical and essential mining assets while following responsible mineral development principles, including a mandate to employ best practice approaches in the engagement and involvement of local communities, and meeting rigorous environmental standards.

We seek Safe Harbor.