Search Minerals Inc V.SMY

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IT GIVES THE WHOLE JV WITH (SMY) MINE HAS CUT OFF THE ALL THE INGREDIANT OF T

Thu, April 21, 2011 9:56:04 AM

	jim gray <[e-mail]>

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News: Quest Board Approves Funding for Pre-Feasibility Study, Strange Lake B-Zone Deposit, Quebec

The initial scope of the B-Zone pre-feasibility study has beenestablished in light of the results that were generated in 2010. Thecurrent scope contemplates the excavation of REE-bearing material bymeans of an open pit mine using conventional truck-and-shovel miningequipment that will provide feed at a nominal throughput rate of 4,000tonnes per day to a plant that is located in the vicinity of thedeposit. The preliminary metallurgical test work that has been completedto date has suggested that the REE-bearing pegmatites and granites areamenable to direct acid attack of the crushed and ground feed from theopen pit mine without the need for any pre-concentration steps (seePress Release : August 12, 2010). The use of magnetic separators whosegoal will be to remove a portion of the non-REE bearing minerals will beinvestigated as a potential enhancementto the acid attack flowsheet. Following acid attack, the solution isthen envisioned to be sent to a solvent extraction circuit where finalproducts will be generated. The material remaining from the process isenvisioned to be stored in a land-based storage facility that is locatedin proximity to the deposit. Trade-off studies will be undertaken whichexamine the relative merits of transporting supplies, consumables andfinal products either by a road link to a port facility located on theLabrador coast or to an existing rail head located in the Schefferville,Quebec area.

"We are very pleased with the quality and levelof technical talent that we have been able to assemble for thecompletion of the Strange Lake project pre-feasibility study," saidPeter J. Cashin, Quest's President & CEO. "A deposit of suchimportance, as is the case of our B-Zone REE deposit, requires the bestpossible technical evaluation and outcome. I have the utmost confidencethat our team will deliver the desired result."

"The depth ofthe talent and experience that has been assembled for the completion ofour pre-feasibility study represents an important milestone towards theadvancementof the B-Zone deposit. We look forward to the contributions and inputof every team member while we work together with our partners on thisstudy," said Reno Pressacco, Quest's Vice-President, Operations.

Winter 2011 Exploration Program Update

A 21-hole, 3,318.0m program of diamond drilling that began in mid-March2011 to test the northern continuity of the B-Zone "Pegmatite Spine"was recently completed. The program successfully traced out the northernstrike extension of the Rare Earth Element (REE)-mineralized hostgranites and pegmatites beneath Lac Brisson. All samples have beensubmitted to Activation Laboratories in Ancaster, Ontario for analysisand results are pending. Assays from this program will be released asthe information becomes available and has passed Quest's internal reviewprotocols.

On a parallel path, field work has begun on the gathering of geotechnical datain support of open pit mine design and work has also begun on thecontinuation of the successful metallurgical testing program that wascarried out last year. A metallurgical sampling drillhole for 152.0m wascompleted during winter drilling and will supplement an 18-tonne bulksample that was collected from the surface exposure of the B-Zone lastsummer. Quest has selected Hazen Research of Golden, Colorado, tocomplete Phase 2 Metallurgical studies on B-Zone mineralization. Theremaining material from the bulk sample will be used for future PilotMill studies for the Zone. The results from these activities will feedinto the remainder of the prefeasibility study which is expected to becompleted by year end.

In further news, Quest announces thatit recently completed a small, four-hole, 310.3m drilling program on itsAlterra Strange Lake, Labrador option property with Search MineralsInc. (TSX VENTURE: SMY). The program tested surface REE mineralizedoccurrences identified by Quest during its summer 2010 explorationactivities. Mineralized pegmatite and granite aplite was intersected inall holes on the property. All holes were sampled and submitted to thelab for analysis. Assay results are pending.

About Quest Rare Minerals

Quest Rare Minerals Ltd. is a Canadian-based exploration companyfocused on the identification and discovery of new and significant RareEarth deposit opportunities. The Corporation is publicly listed on theTSX Venture Exchange as "QRM" and is led by a highly respectedmanagement and technical team with a proven mine finding track record.Quest is currently advancing several high potential projects in Canada'spremier exploration areas: the Strange Lake and Misery Lake areas ofnortheastern Quebec and the Plaster Rock area of northwestern NewBrunswick. Quest's 2009 exploration led to the discovery of asignificant new Rare Earth metal deposit, the B-Zone, on its StrangeLake property in northeastern Quebec. The Corporation recently filed a43-101 Inferred Resource Estimate on the B-Zone deposit and hascompleted a Preliminary Economic Assessment (PEA) for the deposit. Inaddition, Quest announced the discovery of an important new area of REEmineralization on its Misery Lake project, approximately 120 km south ofStrange Lake project. Quest continues to pursue high-value projectopportunities throughout North America. As a result of arecently-completed marketed equity financing, Quest has a strong workingcapital position in excess of $51.0 million. This will be sufficient toadvance the Corporations plans of completing a pre-feasibility study ofthe B-Zone REE deposit by 2011-2012 and to continue exploration on itsother rare earth property interests.

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

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