May 31, 2011 (Marketwire Canada) --
TORONTO, ONTARIO -- Northquest Ltd. ("Northquest") (TSX VENTURE:NQ) wishes to announce that it has today granted an aggregate of 175,000 stock options to directors, officers and a consultant of Northquest, each such stock option entitling the holder thereof to acquire one common share of Northquest at an exercise price of $0.92 for a period of five years. One-third of such stock options vest immediately, one-third shall vest on the first anniversary of the date of grant, and one-third shall vest on the second anniversary of the date of grant.
Northquest is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of gold and other minerals.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Northquest Ltd.
President and Chief Executive Officer
(416) 786-6348
www.northquest.biz
