SNIPGOLD CORP V.SGG

split and name change

[butterfly5]

SONORA GOLD CORP. TSX -V Symbol: SGG Frankfurt Stock Exchange Symbol: T9N OTC-BB: SGGFF PRESS RELEASE October 15, 2007 Corporate Office: Suite 520 - 700 West Pender St Vancouver, BC CANADA V6C 1G8 Tel: [phone] Fax: [phone] Toll Free: [phone] email: [e-mail] web: https://www.sonoragold.ca/ SONORA GOLD CORP. CHANGES NAME TO METALQUEST MINERALS INC. (tsx.v: MQ), APPROVES 3 TO 1 SHARE CONSOLIDATION EFFECTIVE OCTOBER 17th, 2007 Vancouver, British Columbia - October 15, 2007 - Sonora Gold Corp. ("Sonora Gold" or the "Company") adopts all resolutions from the Company's Annual General Meeting held of July 27th, 2007 with TSX Venture Exchange approval, including a name change and 3 to 1 share consolidation. The Company currently has 74,017,038 shares issued and outstanding and 109,459,544 shares fully diluted. Post Consolidation, the Company will have 24,672,346 shares issued and outstanding and 36,342,194 shares fully diluted. The Company will also commence trading under a new name, "MetalQuest Minerals Inc," with the TSX Venture Exchange symbol "MQ," and launch a new website at www.metalquest.ca, all effective October 17, 2007. Director W.K. Crichy Clarke has resigned from the Board of Directors to concentrate efforts on his other activities. The Company thanks him for his past contributions and wishes him continued success in his other endeavours. OPERATIONS The Company has been working towards drill testing the highest priority targets of the RHG copper gold prospect in northwestern British Columbia, Canada for the past several months. Drill permits for up to 6 holes have been obtained from the BC Ministry of Energy and Mines and the Company has been working to enlist a drill and crew for the project, which have been unavailable until recently. Late September, the Company's consulting geologists flew to the property to evaluate conditions which were deemed favourable, although subsequent weather has significantly deteriorated. As such, the Company has determined the safety risk and expense of a winter drill program are overbearing concerns at this time. The Company will re-evaluate the program for the New Year. On the San Enrique Option Lands, the Company is awaiting a progress update from the project Operator. Although exploratory work on the property has continued this summer, the Operator's anticipated drill program was delayed awaiting further geological and geophysical interpretations. ACQUISITIONS The Company is actively seeking and evaluating other potential property acquisitions, although, as of this writing, no verbal or written agreements have been made. More information will be provided when available. For more information on Sonora Gold, visit www.sonoragold.ca. On Behalf of the Board, *Dave McMillan* Dave McMillan President & C.E.O. Sonora Gold Corp. INVESTOR RELATIONS Chad McMillan [phone] or Toll Free: [phone] Fax: [phone] [e-mail] This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release