Corporate Questions & Answers

Q- When was Quest Uranium founded?

Quest is a new uranium exploration company founded in January 2008

Q. Explain the history of Quest Uranium as a company.

Quest resulted from the spin-off of the uranium property assets held previously by Freewest Resources Canada Inc. into a new, pure uranium exploration player.

Q. Is the Company traded publicly and if so where?

The company is a publically-trade mineral exploration company on the TSX Venture Exchange under the trading symbol “QUC”

Q. What is unique about Quest Uranium business model?

Quest has the unique competitive advantage of holding a high-quality grassroots property portfolio in Canada’s premier frontier uranium exploration areas. This outstanding portfolio will be supplemented in the near future by more advanced property assets hosting defined uranium resources, enhancing shareholder value going forward. These assets will be acquired through the development of strategic alliances with companies having mine operating capacity in know uranium producing regions.

Q. How long can the advantage be sustained for?

Quest recognizes that it is a late starter to the uranium exploration game and intends to be strategic in the identification of areas of exploration interest to the company. It will strive to be the exploration “partner of choice” by way of its strong technical team and using leading-edge exploration technologies and approaches in defining new uranium resources.

Q. Does Quest Uranium have to raise money to get started?

Quest recently raised approximately $2.2 million by way of the rights-offering and the Initial Public Offering it closed at the beginning of January 2008.

Q. Is Quest Uranium currently looking for additional capital?

Initially, Quest management will work diligently to enhance shareholder value of the company through the generation of positive exploration results on its enviable property holdings. Quest will seek additional exploration capital to fund its future exploration and property acquisition activities as results warrant and as quality property opportunities present themselves.

Q. How will Quest Uranium be affected by the economy?

Quest management believes that uranium consumption demand will far outstrip projected production supply from 2012 and beyond. This increased demand will be predominantly fueled through significant growth in nuclear power generating capacity in the Asian and Eastern European regions.

Q. When will Quest Uranium report annual results?

The company’s fiscal year-end is October 31st of the calendar year. TSX-V-listed companies are required to file their Annual Reports within 120 days from the end of their fiscal period.

Q. Does Quest Uranium have a geographical focus?

Quest is very sensitive to the potentially devastating effects of working in jurisdictions known to have high political risk where security of mineral property tenure is constantly in question. The company therefore intends to have a North America focus for its exploration and acquisition activities in the foreseeable future.

Q. How does Quest Uranium plan to attract investors?

The company firmly believes that investors are most assured in a company that is transparent in the means by which it operates. Quest intends to establish achievable objectives in growing the company and to constantly communicate progress in the attainment of its operating goals. The company will also communicate its salient investment attributes and activity updates to the investment community at mineral-sector investment forums, to retail and institutional investment players and through regular corporate media communiqués.

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