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                                           TSX-V:GQ




                                       A MINE OF
                                   OPPORTUNITIES
                                    Corporate Presentation
                                             December 2012
Disclaimer

 This presentation contains forward-looking statements or forward-looking information within the meaning of applicable
 securities legislation (hereinafter collectively referred to as "forward-looking statements") concerning the Company's plans
 for its properties, projects, operations, subsidiaries and other matters. These statements relate to analyses and other
 information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of
 management regarding operations of the Company which are subject to a variety of business and market risks, including
 political and regulatory risks associated with mining and exploration in Mali.

 Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections,
 objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or
 "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that
 certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not
 statements of historical fact and may be forward-looking statements.

 These forward-looking statements are based on certain assumptions which the Company believes are reasonable, however,
 forward-looking statements are subject to a variety of business and political risks and uncertainties. Some of the important
 risks and uncertainties that could affect forward-looking statements are also described in the Company's continuous
 disclosure filings made with Canadian securities regulatory authorities, which are available at the SEDAR website and on the
 Company’s website. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove
 incorrect, they may adversely affect the Company’s business and prospects and actual results may vary materially from
 those described in forward-looking statements. Forward-looking statements are made based on management's beliefs,
 estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-
 looking statements if these beliefs, estimates and opinions or other circumstances should change, other than as required by
 applicable laws. Investors are therefore cautioned against placing undue reliance on forward-looking statements.

 The technical information in this presentation has been reviewed by Jed Diner, MSc. P.Geol., a qualified person as defined by
 National Instrument 43-101.




                                                                                                                                 2
COMPANY OVERVIEW




                   3
GQ Flagship Project – Tilemsi Phosphate


 •   50 million tonnes inferred resource
 •   High natural grade 24.3% P₂O₅
 •   Significant upsizing potential, project
     covers 1,206 sq.km (3 licenses)
 •   Strategic source of reactive & soluble
     phosphate for direct application
     fertilizer or as a NPK component
 •   Experienced management team with
     track record project development and
     mineral discovery in West Africa




                                               4
GQ Gold Concessions

 GQ Gold
 • GQ holds 2 gold concessions located in the
   productive Birimian Gold Belt in Western Mali:
   • Sanoukou             24 sq. km
   • Dabia Ouest          100 sq.km

 Background - Birimian Belt

 • A prolific gold belt with 14 deposits and >30m
   Oz of gold discovered to date
 • Mali – 3rd largest gold producer in Africa

 Mali Operational Gold Mines

 • Producing gold mines in the same area:
   • Randgold             Loulo + Gounkoto
   • Avion Gold           Segala + Tabakoto
   • Anglogold/Iamgold Sadiola + Yatela
                                                    5
Stock Information



                                                   STOCK INFORMATION
                                                       TSX-V: GQ
                                             SHARES OUTSTANDING                  44.7 m
                                             -OPTIONS                             3.8 m
                                             -WARRANTS                             0.7m
                                             FULLY DILUTED                       49.3 m
                                             52-WEEK LOW/HIGH             $0.43/$3.71
                                             3-MONTH AVG. VOL.                   17,572
                                             52-WEEK MARKET CAP.      $20.36/173.6m
                                             DIRECTORS & OFFICERS                     9%

                                                                    As of December 10, 2012



 Stock Price and Events June-November 2012                                                 6
Our People
                            Board
             John A. Clarke – Chairman                                         Management
              Former CEO of Nevsun Resources and
             Executive Director of Ashanti Goldfields                         Joel Jeangrand
                                                                       President, CEO and Director
             Joel Jeangrand – Director                                Former CEO of Pan American Hydro and
 Former CEO of Pan American Hydro; VP Corporate Development         VP Corporate Development of Spur Ventures
      of Spur Ventures with a phosphate project in China                with a phosphate project in China.

               Victor Jones – Director                                       Jayram Hosanee
 30 years of experience in senior executive and board positions
    in public mineral exploration and technology companies
                                                                           Chief Financial Officer
                                                                         Former CFO at Mineral Hill and
                 Ehud Levy – Director                                  Golden Dawn Minerals. Holds a CGA.
       Phosphate manufacturing industry consultant with
     a 30-year career with Bateman Engineering and Rotem
                                                                        Mohammed Bouhsane
                                                                          Chief Operating Officer
             Gordon Peeling – Director                               Former Project Engineer in the Moroccan
 President of Mining Association of Canada (MAC) with 30 years      mining and metallurgy industries working for
      of mining experience in the public and private sectors                 the ONA Group and OCP.

             Jed Richardson – Director                                          Candice Font
     Former VP Corporate Development at Verde Potash and                Investor Relations Manager
   Institutional Equity Research Analyst at Cormark Securities
                                                                     Former Media Project Manager for Africa
                                                                     Investor, a specialised publication; and IR
                David Shaw – Director                                   Consultant at Silver Bull Resources.
 Worked as Senior Mining Analyst at Yorkton Securities; initiated
 and developed Resource Research Group at Charlton Securities                                                      7
Investment Highlights
 Positive attributes
 •   Naturally effective fertilizer product with low OpEx and CapEx expectations
 •   Strip minable – Near surface deposit (<10 meters on average)
 •   Simple production process as per characterization tests
 Upsize potential
 •   3 phosphate concessions with total surface of 1,206km²
 •   Only 26 km² drilled to date (Drilling program - Phases 1 and 2, out of 4)
 Market potential
 •   Fast growing population (>2% pa) drive food demand in West Africa
 •   Large agribusiness investments in West Africa
 Logistical advantage
 • Proximity to key agricultural markets in West Africa (<1,000 km radius)
 • Ability to offer low farm-gate price thanks to market proximity
 Expertise
 •   Strong combined management and board expertise in mineral exploration in
     Africa and the global phosphate and fertilizer industry                       8
TILEMSI PHOPSHATE IN FOCUS




                             9
Unique Deposit Attributes

             With a high average phosphate grade and significant
             exploration upside, the Tilemsi deposit has the potential
             to become a world-class phosphate resource .

          TILEMSI PHOSPHATE
  INITIAL INFERRED
                           50 million tonnes
      RESOURCE
AVERAGE PHOSPHATE
                              24.3% P₂O₅
     GRADE

CONCENTRATE GRADE            25-38% P₂O₅
                       Low levels of contaminants
CONCENTRATE QUALITY
                              (ie. cadmium)
                           Easy separation and
   BENEFICIATION
                                treatment
                               Near surface
   DEPOSIT DEPTH
                         Strip-minable potential
                                                                         10
Exploration Program

                                                                    589 sq.km



                                                                                 5 km
                                                                                Phases 1 and 2 of
                                                                                Drilling Program
                                                                                   completed



                                417 sq.km               200 sq.km




          Map of Tilemsi phosphate project showing our concessions
       on remote sensing and drilling program (completed and planned)                               11
Phosphate Rock Characterisation

                       Tilemsi natural phosphate (TNP) meets or
                       exceeds market specifications for
 Characterization      beneficiation, solubility and granulation.
 tests indicate:       TNP can be used as either as very low cost
                       phosphate component for blended NPK
                       fertilizer or as a direct application fertilizer.

     Test                    Results                                               Impact
                     Screening at 850 microns to
                                                     Via simple screening process, the product can easily beneficiated to
 BENEFICIATION           achieve P2O5 grades
                                                                          up to 36.8% P2O5 % P₂O₅
                              of 36.8%

                         71.1% soluble P2O5
                                                        The rock solubility shows that it is able to compete with other
                            in citric acid
  SOLUBILITY             62.5% soluble P2O5
                                                     chemical fertilizers, as fertilizers’ effectiveness is based on immediate
                                                                            availability of the nutrients
                           in formic acid

                                                         The product can easily be granulated, allowing the product to
                    Successfully produced granules
 GRANULATION                 sized 1-4mm
                                                         withstand transportation and be used as a component of NPK
                                                                               blended fertilizer


                                                                                                                                 12
GQ Unique Product Development Path
 1. Raw Material                                                  Phosphate Ore




 2. Beneficiation                                                    Phosphate Rock Concentrate




                                                                                   Phosphoric Acid/
                                                     Sulfuric Acid Plant                                           Granulation
                                                                                 Nitrophosphate Plant

 3. Transformation            Nutrient Additives
  to Final Product,
                                                                                    Ammonia              Potash
 incl. Granulation                                                                    Urea


                                                   SSP         TSP         DAP/MAP              NPK                Blended NPK



  4. Primary Use          Direct Application                         Direct Application or Custom Mix Fertilizer


           Legend:
                      GQ: 2 Possible Development Paths
     Fertilizer       SSP: Single Superphosphate; TSP: Triple Superphosphate; MAP:Mono-Ammonium Phosphate;
      Types           DAP: Di-Ammonium Phosphate; NPK: Nitrogen, Phosphate, Potassium
                                                                                                                                 13
Hyper Phosphate & NPK Development Plan




                                         14
Regional Market Penetration




                          Map of West Africa showing
           the Tilemsi deposit and GQ market development objectives   15
Target Markets & Infrastructure


              Figure 1:
   Map of West Africa showing
the Tilemsi deposit and the main
  logistical infrastructure in the
             sub-region




              Figure 2:
     One of the 2 types of truck
        considered for ore
          transportation             16
WHY PHOSPHATE?




                 17
Phosphate - a Strategic Resource


 Essential to life:
 • Essential nutrient for plant/animal life

 Key nutrient in agriculture:
 • 90% is used in fertilizers
 • Stimulates root development
 • No known substitute

 Limited resource:
 • A limited, non-renewable resource
 • 67% of global production in just 3 countries
 • 79% of world reserves located in 7 countries


                                                  18
Demand Drivers

 • World population projection       • The amount of arable land per capita is shrinking
   10 billion people by 2100

 • Africa’s population is expected
   to double to 2 billion by 2050.


                                       World population growth         Arable land per capita


                                     • A more affluent world will consume more food




 World population projection
                                     Grain required to produce 1kg of meat                      19
WHY AFRICA?




              20
Available Arable Land

         60% OF THE WORLD’S ARABLE LAND IS IN AFRICA
                                        According to Zürich-based
                                        advisory firm, EBG Capital,
                                        sub-Saharan Africa offers
                                        590m hectares of available
                                        cropland, while the rest of
                                        the world offers just 380m
                                        hectares.
                                        • Only 23-30% of arable
                                           land in W. Africa is
                                           currently cultivated
                                        • Low fertilizer usage
                                           (9kg/ha vs. 101kg/ha in
                                           the rest of the world)


 Source: EBG Capital                                                  21
Agribusiness Opportunities

    AFRICA IS ATTRACTING LARGE AGRIBUSINESS INVESTMENTS


•     62% of all large-scale land acquisitions
      since 2000 have occurred in Africa.
•     Agriculture in Africa will grow from its
      current $280 billion a year to $500
      billion in 2020, and $880 billion by
      2030.
•     Nigeria’s agricultural sector could grow
      by a colossal 160% by 2030, rising
      from $99 billion in 2010 to $256 billion
      two decades later.



                                                     Agribusiness project sizes – January 2012
    Source: GRAIN, AGRA Alliance, McKinsey       (investment underway or completed in ‘000s USD) 22
West Africa Cash Crops




 Source: Bureau Issala, JL Chaleard and SWAC   23
Growing Agricultural Sector

AFRICA THE WORLD’S NEXT
 AGRICULTURAL FRONTIER
                                                      Development of
                                                     cash crops in West
                                                     Africa (1980-2006)
                                                       Source: FARM 2008




                                 GQ target markets:
                                Principal production
                               and food crop locations
                              Source: Bureau Issala, JL Chaleard and SWAC




                                                                            24
Significant Growth Potential

These 2 graphs support the case
for more fertilizer use in Africa,
for higher agricultural yield.




          Gap between actual and
           potential maize yields
                     Source: Jayne et al. 2009



                                                   4000
                                                 kg/ha                                                                            50,000

                                                                                                                                  45,000




                                                                                                                                           000s of hectares
                                                   3500
                                                                                               World                              40,000
                                                   3000
                                                                                                                                  35,000
                                                   2500
                                                                                                                                  30,000

                                                   2000                                                                           25,000

                                                                                                                                  20,000
                                                   1500
                                                                                                    West Africa                   15,000
                                                   1000
                                                                                                                                  10,000
             Cereal yield growth                    500
                                                                                                                                  5,000
             vs. area harvested                       0                                                                           0
                              Source: FAO                 1961   1966   1971   1976   1981   1986    1991    1996   2001   2006                               25
Conclusion

 AFRICA WELL PLACED TO BOOST ITS AGRICULTURAL YIELD


  •     Land is under-utilized
  •     Water exists in great quantity
  •     Significant increase in agricultural yield possible
  •     Competitive cost of land
  •     Relatively low labour cost
  •     Growing middle-class with improving dietary needs


 Source: Deloitte Africa Agribusiness Unit                    26
WHY GREAT QUEST?




                   27
A Unique Value Proposition

                  To unlock West Africa’s fertilizer market
                      by providing cost effective and
                 adapted solutions to meet farmers’ needs.



      Management                  Reputable             Company successful
      Track Record              Board Members          discovery track record




                               Public since 1989          Support from
    In Mali since 1996
                            52-wk hi/lo: $0.63/$3.71     Key Stakeholders



                                                                                28
Milestones and Catalysts
                                                                        2010        2011        2012        2013        2014        2015        2016
                                                                      Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Prospecting license of Tilemsi phosphate concession granted

Sale of Kenieba gold concession to Avion Gold (now Endeavour)

Phosphate exploration permit granted for Tilemsi & Tarkint Est

Phase I of Exploration Program completed on Tilemsi & Tin Hina

Phase II of Exploration Program completed on Tarkint Est

Tilemsi Phosphate project receives 32.6Mt initial resource estimate

Project area extended to 1,206km² with new concession of Aderfoul

Characterisation tests indicate high grade & reactivity of the rock

Increase of 17Mt of inferred mineral, totalling 50Mt

Complete PEA

Pre-Feasibility Study

Feasibility Study

Project Financing

Market Development During Construction

Launch Hyper Phosphate Production

                                                                                                                                                        29
APPENDICES




             30
Resource Estimate

               The NI 43-101 mineral resource reports provide
          an inferred mineral resource estimate of 50 million tonnes
             at a grade of 24.3% P2O5 (at a cut-off of 10% P2O5)

   Drilling                      Cut-Off    Tonnes     Average Grade
                  Target Zone                                          Strip Ratio
  Campaign                      Grade (%)    (000's)      (P₂O₅ %)

    Phase I        Alfatchafa      10       12,538         22.16         15:01

    Phase I         Tin Hina       10       20,000         24.24          4.5:1

   Phase II       Tarkint Est      10       17,436         25.87          5.7:1

 Phase I and II     TOTAL          10       49,974         24.29            -




                                                                                     31
Tilemsi Exploration Program
                Permit       Drilling                                                          # of Holes and Total         Resource    Average Grade
 STATUS                               Target Name                Drilled Surface
                 Name        Program                                                              Meters Drilled            Estimate        (P₂O₅)

                                           Tin Hina                  6.75 km²                 141 holes totalling 1,717m                 1.4m @ 24.2%
                 Tilemsi     Phase I                                                                                         32.6Mt
                                          Alfatchafa                  6.7 km²                 128 holes totalling 3,218m                 0.9m @ 22.0%
   COMPLETED




               Tarkint Est Phase II                               5 km² but holes were
                                          Tin Siriden
                                                               drilled along 3.7 km of line
                                                                                                 48 holes drilled over
                                                                 11.3 holes were drilled
                                         Chemanaguel 12.17 km²                                 these 3 targets totalling     17.4 Mt         25.87%
                                                                   along 9.1 km of line
                                                                                                         608m
                                            Tagit              Holes were drilled along
                                          N'Ouarane
                  TOTAL Phases I and II                              25.62 km²                317 holes, totalling 5,543m     50 Mt          24.30%

                                         Chemanaguel                                                                           n.a             n.a
               Tarkint Est                                            55 km²                  198 holes totalling 2,970 m
                                          Tin Siriden                                                                          n.a             n.a


                             Phase III    Alfatchafa                 13.2 km²                 125 holes totalling 1,875m       n.a             n.a
   PLANNED




                 Tilemsi

                                                                                                                                       Historical samples*
                                           Tin Hina                                           128 holes totalling 1,920 m
                                                                                                                                         1- 1.15m @ 26%
                                                                     23.4 km²                                                  n.a
                Ader Foul                 Ader Foul                                           180 holes totalling 2,700 m                      n.a

                                                                                                                                       Historical samples*
                                         Chemanaguel                                                                           n.a
                                                                                                                                        0.60-1.25m @ 28%
               Tarkint Est Phase IV                                   55 km²                  375 holes totalling 5,625m
                                          Tin Siriden                                                                          n.a             n.a
                                                                                                                                                             32
* Historical results have not been confirmed
About Mali

     Despite the current political crisis in Mali, GQ maintains an office in
      Bamako and plans to resume work on the ground as soon as the
  situation permits. Mali has a twenty-year history of democratic rule and
              expectations are that this tradition will continue.

         LOCATION                    GEOLOGY              INVESTMENT CLIMATE

  • Located in the heart of   • Favorable geology        • September 3, 2012
    West Africa                 dominated by the           Mali Minister of Mines
  • Vast landlocked             Birimian gold belt         invited GQ to formally
    country 1.2m km²          • Several operating gold     reaffirms the
  • 14.5 million people         mines in Mali incl.        government’s support
                                Endeavour, IAMGold…        to the Tilemsi project.
  • Well connected to
    other West African        • Third largest gold       • Amongst top sub-
    nations (paved roads        producer in Africa         Saharan Africa
    and rail) and major       • Large phosphate            performers on the
    maritime hubs of            occurrences in             World Bank’s ‘Doing
    Abidjan and Dakar           northeastern Mali          Business Survey’ 2012
                                known since 1927-35
                                (IFDC)                                               33
Mali Mineral Policy

           Mali mineral law is based on the French civil law.
                 The mining code was revised in 2012.

                                     • Exclusive right to carry out prospecting activities
        EXPLORATION LICENSE
                                     • Valid for a period of 3 months
      (Autorisation d’Exploration)
                                     • Renewable once for 3 months

                                     • Awarded for 3 years
        PROSPECTING LICENSE
                                     • Covers 8 km²
     (Autorisation de Prospection)
                                     • Renewable once for same period


          RESEARCH PERMIT            • Valid for specified commodities (called “Arrêté”)
                                     • Granted for 3 years
        (Permis de Recherche)
                                     • Renewable twice for an additional 2 years each time

                                     • Granted for 30 years
           MINING PERMIT
                                     • Renewable for 10 years each time, until depletion of the
        (Permis d’Exploitation)        ore reserves


                                                                                                  34
Management Bios

 Joel Jeangrand            Mr. Jeangrand has more than 20 years of global experience in marketing, business and corporate development in the
                           natural resource sector and renewable energy business. Prior to joining Great Quest, he held the role of President and
 President, CEO and
                           CEO of Pan American Hydro Corporation from 2008 to 2012. Previously, Mr. Jeangrand served as VP Corporate
 Director                  Development of Spur Ventures Inc., a publicly traded Vancouver-based fertilizer company with a phosphate project in
                           China. He also spent 11 years in roles of increasing responsibility with the Eramet Group and worked in locations such
                           France, Hong Kong and Taipei. He holds an Executive MBA from Simon Fraser University in Vancouver (2005), and
                           earned a Bachelor of Commerce (equivalent) from Ecole Supérieure de Commerce de Toulon, France (1989).


 Jay Hosanee               Mr. Hosanee is a General Certified Accountant who brings over 20 years of senior management experience in corporate
                           finance, auditing and internal control. Prior to joining Great Quest, he held the position of CFO at Mineral Hill and
 Chief Financial Officer
                           Golden Dawn Minerals Inc.. His international experience include multi-currency group consolidation, overseeing
                           financial reporting and regulatory compliance of several public listed companies. He also held the position of CFO at
                           Loita Group, an investment banking firm focused on Africa. This role gave him tremendous exposure to sub-Saharan
                           markets. Mr. Hosanee is fluent in French and holds a CGA qualification as well as an Internal Auditor certification.

 Mohammed Bouhsane         Mr. Bouhsane brings 20 years of experience in project management and engineering in the Moroccan mining,
                           hydrometallurgical, and metallurgy industries. He spent most of his time at a mining subsidiary of the ONA Group,
 Chief Operating Officer
                           where he served as project director and project manager of two major projects. Most recently, Mr. Bouhsane was
                           Project Manager at Nareva Holding, managing construction and financing of an irrigation network. Mohammed is a
                           member of the Quebec Order of Engineers.

 Candice Font              Ms. Candice Font comes to GQ with a wealth of experience working in Africa. As a regional manager for Africa Investor,
                           a specialized publication focused on business in Africa, Ms. Font was based in Abidjan, Cote d’Ivoire and Libreville,
 Investor Relations
                           Gabon from 2008 to 2010. Between 2005 and 2008, she worked as a project manager producing business reports on
 and Communications        the growth opportunities in emerging countries such as Russia, Nigeria, and Qatar. Prior to joining Great Quest, Ms.
                           Font worked in Investor Relations at Silver Bull Resources, Inc. perfecting her expertise in streamlining information flow,
                           cultivating relationships with stakeholders and enhancing companies public profiles. She holds a Bachelor's degree in
                           International Business from the University of Plymouth (UK) and is fluent in English and French.



                                                                                                                                                         35
Directors Bios

John A Clarke    Mr. Clarke brings considerable experience in exploration, acquisition and development in the gold mining sector in Africa. He
                 has held roles as Vice Chairman and CEO of Nevsun Resources and Executive Director of Ashanti Goldfields Company Ltd. He
Chairman
                 holds B.Sc. in metallurgy from University College Cardiff, a Ph.D. in metallurgy from Cambridge University and MBA from
                 Middlesex Polytechnic.

Joel Jeangrand   Mr. Jeangrand has more than 20 years of global experience in marketing, business and corporate development in the natural
                 resource sector and renewable energy business. Prior to joining Great Quest, he held the role of President and CEO of Pan
Director
                 American Hydro Corporation from 2008 to 2012. Previously, Mr. Jeangrand served as VP Corporate Development of Spur
                 Ventures Inc., a publicly traded Vancouver-based fertilizer company with a phosphate project in China. He also spent 11 years
                 in roles of increasing responsibility with the Eramet Group and worked in locations such as Gabon, Paris, Hong Kong and
                 Taipei. He holds an Executive MBA from Simon Fraser University in Vancouver (2005), and earned a Bachelor of Commerce
                 (equivalent) from Ecole Superieure de Commerce de Toulon, France (1989).

Victor Jones     Mr. Jones has over 30 years of experience in senior executive and board positions in public mineral exploration and technology
                 companies. He has been active on projects across North America and Africa on financings and JV and acquisition negotiations.
Director
                 Mr. Jones received both his B.Sc and MBA from McGill University.

Ehud Levy        Mr. Levy is a phosphate manufacturing industry consultant, based in Israel. Ehud formed his consulting firm following a 30-
                 year career in Israel with Bateman Engineering and Rotem. At Bateman, he was the managing director of the chemical
Director         technologies, directing project initiation and new processes for sophisticated applications of phosphates.

Gordon Peeling   Mr. Peeling has been the president of Mining Association of Canada (MAC) since 1997 and has over 30 years of mining
                 experience in the public and private sectors. Prior to MAC, he served as Vice President at the International Council on Metals
Director
                 and the Environment and Director General at both the Mineral Commodities Branch and Mineral Strategy Branch at Natural
                 Resources Canada.

Jed Richardson   Mr. Richardson graduated from University of Toronto with B.A.Sc. in mineral and geological engineering. He worked for Alcan
                 as an engineer, and RBC and Cormark as research analyst. He is currently a director and the VP Corporate Development of
Director
                 Verde Potash (formerly Amazon Mining). Jed is the founding principal of Javelin Partners, consulting firm for junior resource
                 companies.

David Shaw       Mr. Shaw has worked both in the technical and financial communities in the resource industry. He initiated and developed
                 Resource Research Group at Charlton Securities, worked as Senior Mining Analyst at Yorkton Securities and as a technical
Director
                 expert at Chevron Resources. He is well connected within European financial institutions and the mining sector.
                                                                                                                                                  36
Great Quest Comparables
                                                                            52-week                                                                              Ore Resources
                                     Stock                    Share                      3m Avg    Market
                                                 Currency                                                        Project Stage        Project Location   M&I
       Company                       Ticker                   Price        High   Low      Vol     Cap (m)                                                          Total     Grade P₂O₅
                                                                                                                                                         (Mt)
     Aguia Resources Ltd            AGR:ASX         AUD        0.16        0.58   0.12   43,333    $20.15           Drilling               Brazil         –          21.3        4.6%

    Arianne Resources Inc          DAN:TSXV         CAD        1.05        1.44   0.80   82,220    $71.23     Pre-Feas Completed          Canada         347.7      462.0      5.5%-6.5%

      Celamin Holdings              CNL:ASX         AUS        0.15        0.20   0.09   60,825    $22.85           Drilling           Tunisia Algeria    37          –          21%

   Eagle Star Minerals Corp        EGE:TSXV         CAD        0.10        0.18   0.07   110,711    $6.07           Drilling               Brazil         –           –            –

   Great Quest Metals Ltd           GQ:TSXV         CAD        0.53        3.71   0.43   17,755    $22.96       PEA Completed               Mali          –          50.0        24.3%

Legend International Holding       LGDI:OTC         USD        0.07        0.20   0.06   52,924    $17.18    Feasibility Completed        Australia      202.8      516.1      14%-15%

    MBAC Fertilizer Corp            MBC:TSX         CAD        3.62        3.75   2.50   72,252    $428.61   Production Target 2012        Brazil        58.8       119.0     5.01%-5.27%

    Minbos Resources Ltd           MNB:ASX          AUD        0.12        0.29   0.12   55,007    $15.06 Scoping Study Underway        Angola, DRC      340        370.0       12.20%

       Minemarkers Ltd             MAK:ASX          AUD        0.18        0.37   0.13   270,899   $42.03     Pre-Feas Completed          Australia      1552        1552        11.6%

           Montero                MON:TSXV          CAD        0.13        0.12   0.23   65,000     $6.84       PEA Completed           South Africa                 32.8        7.2%

   Plains Creek Phosphate          PCP: TSXV        CAD        0.01        0.03   0.02   493,406    $3.88     Pre-Feas Completed       Guinea Bissau     83.8       128.0     29.9-30.1%

     Rio Verde Minerals             RVD:TSX         CAD        0.39        0.55   0.18   116,758   $47.42 Scoping Study Underway           Brazil         1.9         1.9     11.7%-20.3%

  Rum Jungle Resources Ltd         RUM:ASX          AUD        0.24        0.41   0.19   314,464   $49.88           Drilling              Australia       13         13.0        15.0%

    Stonegate Agricom Ltd            ST:OTC         CAD        0.53        0.90   0.32   25,666    $76.95     Pre-Feas Completed          Peru, US        74        376.3      9%-30.6%

       Strata Minerals             SMP:TSXV         CAD        0.08        0.13   0.05   23,972     $5.12           Drilling              Australia       –           –            –

    Sunkar Resources Plc            SKR:LSE         GBP        0.03        0.12   0.03   295,140    £5.29    Feas. Study Underway        Kazakhstan      293        475.3        10.5%

UCL Resources - Minemaker JV        UCL:ASX         AUD        0.16        0.37   0.12   23,533    $16.29    DFS nearing completion Australia, Namibia   1828       1,832.0      18.9%
 Sources: Yahoo Finance, Capital IQ and Company Reports                                                                                                          As of December 5, 2012
 DFS: Definitive Feasibility Study; PEA: Preliminary Economic Assessment                                                                                                                    37
Great Quest Metals Ltd        IR          Candice Font
        TSX-V: GQ             Tel         +1 604.689.2882
 Suite 515, 475 Howe Street   Toll Free   1.877.325.3838
  Vancouver, BC, V6C 2B3      Fax         +1 604.684.5854
 WWW.GREATQUEST.COM           Email       info@greatquest.com
                                                                38

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Corporate Presentation

  • 1. Click to edit Master title style TSX-V:GQ A MINE OF OPPORTUNITIES Corporate Presentation December 2012
  • 2. Disclaimer This presentation contains forward-looking statements or forward-looking information within the meaning of applicable securities legislation (hereinafter collectively referred to as "forward-looking statements") concerning the Company's plans for its properties, projects, operations, subsidiaries and other matters. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management regarding operations of the Company which are subject to a variety of business and market risks, including political and regulatory risks associated with mining and exploration in Mali. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are based on certain assumptions which the Company believes are reasonable, however, forward-looking statements are subject to a variety of business and political risks and uncertainties. Some of the important risks and uncertainties that could affect forward-looking statements are also described in the Company's continuous disclosure filings made with Canadian securities regulatory authorities, which are available at the SEDAR website and on the Company’s website. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, they may adversely affect the Company’s business and prospects and actual results may vary materially from those described in forward-looking statements. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward- looking statements if these beliefs, estimates and opinions or other circumstances should change, other than as required by applicable laws. Investors are therefore cautioned against placing undue reliance on forward-looking statements. The technical information in this presentation has been reviewed by Jed Diner, MSc. P.Geol., a qualified person as defined by National Instrument 43-101. 2
  • 4. GQ Flagship Project – Tilemsi Phosphate • 50 million tonnes inferred resource • High natural grade 24.3% P₂O₅ • Significant upsizing potential, project covers 1,206 sq.km (3 licenses) • Strategic source of reactive & soluble phosphate for direct application fertilizer or as a NPK component • Experienced management team with track record project development and mineral discovery in West Africa 4
  • 5. GQ Gold Concessions GQ Gold • GQ holds 2 gold concessions located in the productive Birimian Gold Belt in Western Mali: • Sanoukou 24 sq. km • Dabia Ouest 100 sq.km Background - Birimian Belt • A prolific gold belt with 14 deposits and >30m Oz of gold discovered to date • Mali – 3rd largest gold producer in Africa Mali Operational Gold Mines • Producing gold mines in the same area: • Randgold Loulo + Gounkoto • Avion Gold Segala + Tabakoto • Anglogold/Iamgold Sadiola + Yatela 5
  • 6. Stock Information STOCK INFORMATION TSX-V: GQ SHARES OUTSTANDING 44.7 m -OPTIONS 3.8 m -WARRANTS 0.7m FULLY DILUTED 49.3 m 52-WEEK LOW/HIGH $0.43/$3.71 3-MONTH AVG. VOL. 17,572 52-WEEK MARKET CAP. $20.36/173.6m DIRECTORS & OFFICERS 9% As of December 10, 2012 Stock Price and Events June-November 2012 6
  • 7. Our People Board John A. Clarke – Chairman Management Former CEO of Nevsun Resources and Executive Director of Ashanti Goldfields Joel Jeangrand President, CEO and Director Joel Jeangrand – Director Former CEO of Pan American Hydro and Former CEO of Pan American Hydro; VP Corporate Development VP Corporate Development of Spur Ventures of Spur Ventures with a phosphate project in China with a phosphate project in China. Victor Jones – Director Jayram Hosanee 30 years of experience in senior executive and board positions in public mineral exploration and technology companies Chief Financial Officer Former CFO at Mineral Hill and Ehud Levy – Director Golden Dawn Minerals. Holds a CGA. Phosphate manufacturing industry consultant with a 30-year career with Bateman Engineering and Rotem Mohammed Bouhsane Chief Operating Officer Gordon Peeling – Director Former Project Engineer in the Moroccan President of Mining Association of Canada (MAC) with 30 years mining and metallurgy industries working for of mining experience in the public and private sectors the ONA Group and OCP. Jed Richardson – Director Candice Font Former VP Corporate Development at Verde Potash and Investor Relations Manager Institutional Equity Research Analyst at Cormark Securities Former Media Project Manager for Africa Investor, a specialised publication; and IR David Shaw – Director Consultant at Silver Bull Resources. Worked as Senior Mining Analyst at Yorkton Securities; initiated and developed Resource Research Group at Charlton Securities 7
  • 8. Investment Highlights Positive attributes • Naturally effective fertilizer product with low OpEx and CapEx expectations • Strip minable – Near surface deposit (<10 meters on average) • Simple production process as per characterization tests Upsize potential • 3 phosphate concessions with total surface of 1,206km² • Only 26 km² drilled to date (Drilling program - Phases 1 and 2, out of 4) Market potential • Fast growing population (>2% pa) drive food demand in West Africa • Large agribusiness investments in West Africa Logistical advantage • Proximity to key agricultural markets in West Africa (<1,000 km radius) • Ability to offer low farm-gate price thanks to market proximity Expertise • Strong combined management and board expertise in mineral exploration in Africa and the global phosphate and fertilizer industry 8
  • 10. Unique Deposit Attributes With a high average phosphate grade and significant exploration upside, the Tilemsi deposit has the potential to become a world-class phosphate resource . TILEMSI PHOSPHATE INITIAL INFERRED 50 million tonnes RESOURCE AVERAGE PHOSPHATE 24.3% P₂O₅ GRADE CONCENTRATE GRADE 25-38% P₂O₅ Low levels of contaminants CONCENTRATE QUALITY (ie. cadmium) Easy separation and BENEFICIATION treatment Near surface DEPOSIT DEPTH Strip-minable potential 10
  • 11. Exploration Program 589 sq.km 5 km Phases 1 and 2 of Drilling Program completed 417 sq.km 200 sq.km Map of Tilemsi phosphate project showing our concessions on remote sensing and drilling program (completed and planned) 11
  • 12. Phosphate Rock Characterisation Tilemsi natural phosphate (TNP) meets or exceeds market specifications for Characterization beneficiation, solubility and granulation. tests indicate: TNP can be used as either as very low cost phosphate component for blended NPK fertilizer or as a direct application fertilizer. Test Results Impact Screening at 850 microns to Via simple screening process, the product can easily beneficiated to BENEFICIATION achieve P2O5 grades up to 36.8% P2O5 % P₂O₅ of 36.8% 71.1% soluble P2O5 The rock solubility shows that it is able to compete with other in citric acid SOLUBILITY 62.5% soluble P2O5 chemical fertilizers, as fertilizers’ effectiveness is based on immediate availability of the nutrients in formic acid The product can easily be granulated, allowing the product to Successfully produced granules GRANULATION sized 1-4mm withstand transportation and be used as a component of NPK blended fertilizer 12
  • 13. GQ Unique Product Development Path 1. Raw Material Phosphate Ore 2. Beneficiation Phosphate Rock Concentrate Phosphoric Acid/ Sulfuric Acid Plant Granulation Nitrophosphate Plant 3. Transformation Nutrient Additives to Final Product, Ammonia Potash incl. Granulation Urea SSP TSP DAP/MAP NPK Blended NPK 4. Primary Use Direct Application Direct Application or Custom Mix Fertilizer Legend: GQ: 2 Possible Development Paths Fertilizer SSP: Single Superphosphate; TSP: Triple Superphosphate; MAP:Mono-Ammonium Phosphate; Types DAP: Di-Ammonium Phosphate; NPK: Nitrogen, Phosphate, Potassium 13
  • 14. Hyper Phosphate & NPK Development Plan 14
  • 15. Regional Market Penetration Map of West Africa showing the Tilemsi deposit and GQ market development objectives 15
  • 16. Target Markets & Infrastructure Figure 1: Map of West Africa showing the Tilemsi deposit and the main logistical infrastructure in the sub-region Figure 2: One of the 2 types of truck considered for ore transportation 16
  • 18. Phosphate - a Strategic Resource Essential to life: • Essential nutrient for plant/animal life Key nutrient in agriculture: • 90% is used in fertilizers • Stimulates root development • No known substitute Limited resource: • A limited, non-renewable resource • 67% of global production in just 3 countries • 79% of world reserves located in 7 countries 18
  • 19. Demand Drivers • World population projection • The amount of arable land per capita is shrinking 10 billion people by 2100 • Africa’s population is expected to double to 2 billion by 2050. World population growth Arable land per capita • A more affluent world will consume more food World population projection Grain required to produce 1kg of meat 19
  • 21. Available Arable Land 60% OF THE WORLD’S ARABLE LAND IS IN AFRICA According to Zürich-based advisory firm, EBG Capital, sub-Saharan Africa offers 590m hectares of available cropland, while the rest of the world offers just 380m hectares. • Only 23-30% of arable land in W. Africa is currently cultivated • Low fertilizer usage (9kg/ha vs. 101kg/ha in the rest of the world) Source: EBG Capital 21
  • 22. Agribusiness Opportunities AFRICA IS ATTRACTING LARGE AGRIBUSINESS INVESTMENTS • 62% of all large-scale land acquisitions since 2000 have occurred in Africa. • Agriculture in Africa will grow from its current $280 billion a year to $500 billion in 2020, and $880 billion by 2030. • Nigeria’s agricultural sector could grow by a colossal 160% by 2030, rising from $99 billion in 2010 to $256 billion two decades later. Agribusiness project sizes – January 2012 Source: GRAIN, AGRA Alliance, McKinsey (investment underway or completed in ‘000s USD) 22
  • 23. West Africa Cash Crops Source: Bureau Issala, JL Chaleard and SWAC 23
  • 24. Growing Agricultural Sector AFRICA THE WORLD’S NEXT AGRICULTURAL FRONTIER Development of cash crops in West Africa (1980-2006) Source: FARM 2008 GQ target markets: Principal production and food crop locations Source: Bureau Issala, JL Chaleard and SWAC 24
  • 25. Significant Growth Potential These 2 graphs support the case for more fertilizer use in Africa, for higher agricultural yield. Gap between actual and potential maize yields Source: Jayne et al. 2009 4000 kg/ha 50,000 45,000 000s of hectares 3500 World 40,000 3000 35,000 2500 30,000 2000 25,000 20,000 1500 West Africa 15,000 1000 10,000 Cereal yield growth 500 5,000 vs. area harvested 0 0 Source: FAO 1961 1966 1971 1976 1981 1986 1991 1996 2001 2006 25
  • 26. Conclusion AFRICA WELL PLACED TO BOOST ITS AGRICULTURAL YIELD • Land is under-utilized • Water exists in great quantity • Significant increase in agricultural yield possible • Competitive cost of land • Relatively low labour cost • Growing middle-class with improving dietary needs Source: Deloitte Africa Agribusiness Unit 26
  • 28. A Unique Value Proposition To unlock West Africa’s fertilizer market by providing cost effective and adapted solutions to meet farmers’ needs. Management Reputable Company successful Track Record Board Members discovery track record Public since 1989 Support from In Mali since 1996 52-wk hi/lo: $0.63/$3.71 Key Stakeholders 28
  • 29. Milestones and Catalysts 2010 2011 2012 2013 2014 2015 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Prospecting license of Tilemsi phosphate concession granted Sale of Kenieba gold concession to Avion Gold (now Endeavour) Phosphate exploration permit granted for Tilemsi & Tarkint Est Phase I of Exploration Program completed on Tilemsi & Tin Hina Phase II of Exploration Program completed on Tarkint Est Tilemsi Phosphate project receives 32.6Mt initial resource estimate Project area extended to 1,206km² with new concession of Aderfoul Characterisation tests indicate high grade & reactivity of the rock Increase of 17Mt of inferred mineral, totalling 50Mt Complete PEA Pre-Feasibility Study Feasibility Study Project Financing Market Development During Construction Launch Hyper Phosphate Production 29
  • 31. Resource Estimate The NI 43-101 mineral resource reports provide an inferred mineral resource estimate of 50 million tonnes at a grade of 24.3% P2O5 (at a cut-off of 10% P2O5) Drilling Cut-Off Tonnes Average Grade Target Zone Strip Ratio Campaign Grade (%) (000's) (P₂O₅ %) Phase I Alfatchafa 10 12,538 22.16 15:01 Phase I Tin Hina 10 20,000 24.24 4.5:1 Phase II Tarkint Est 10 17,436 25.87 5.7:1 Phase I and II TOTAL 10 49,974 24.29 - 31
  • 32. Tilemsi Exploration Program Permit Drilling # of Holes and Total Resource Average Grade STATUS Target Name Drilled Surface Name Program Meters Drilled Estimate (P₂O₅) Tin Hina 6.75 km² 141 holes totalling 1,717m 1.4m @ 24.2% Tilemsi Phase I 32.6Mt Alfatchafa 6.7 km² 128 holes totalling 3,218m 0.9m @ 22.0% COMPLETED Tarkint Est Phase II 5 km² but holes were Tin Siriden drilled along 3.7 km of line 48 holes drilled over 11.3 holes were drilled Chemanaguel 12.17 km² these 3 targets totalling 17.4 Mt 25.87% along 9.1 km of line 608m Tagit Holes were drilled along N'Ouarane TOTAL Phases I and II 25.62 km² 317 holes, totalling 5,543m 50 Mt 24.30% Chemanaguel n.a n.a Tarkint Est 55 km² 198 holes totalling 2,970 m Tin Siriden n.a n.a Phase III Alfatchafa 13.2 km² 125 holes totalling 1,875m n.a n.a PLANNED Tilemsi Historical samples* Tin Hina 128 holes totalling 1,920 m 1- 1.15m @ 26% 23.4 km² n.a Ader Foul Ader Foul 180 holes totalling 2,700 m n.a Historical samples* Chemanaguel n.a 0.60-1.25m @ 28% Tarkint Est Phase IV 55 km² 375 holes totalling 5,625m Tin Siriden n.a n.a 32 * Historical results have not been confirmed
  • 33. About Mali Despite the current political crisis in Mali, GQ maintains an office in Bamako and plans to resume work on the ground as soon as the situation permits. Mali has a twenty-year history of democratic rule and expectations are that this tradition will continue. LOCATION GEOLOGY INVESTMENT CLIMATE • Located in the heart of • Favorable geology • September 3, 2012 West Africa dominated by the Mali Minister of Mines • Vast landlocked Birimian gold belt invited GQ to formally country 1.2m km² • Several operating gold reaffirms the • 14.5 million people mines in Mali incl. government’s support Endeavour, IAMGold… to the Tilemsi project. • Well connected to other West African • Third largest gold • Amongst top sub- nations (paved roads producer in Africa Saharan Africa and rail) and major • Large phosphate performers on the maritime hubs of occurrences in World Bank’s ‘Doing Abidjan and Dakar northeastern Mali Business Survey’ 2012 known since 1927-35 (IFDC) 33
  • 34. Mali Mineral Policy Mali mineral law is based on the French civil law. The mining code was revised in 2012. • Exclusive right to carry out prospecting activities EXPLORATION LICENSE • Valid for a period of 3 months (Autorisation d’Exploration) • Renewable once for 3 months • Awarded for 3 years PROSPECTING LICENSE • Covers 8 km² (Autorisation de Prospection) • Renewable once for same period RESEARCH PERMIT • Valid for specified commodities (called “Arrêté”) • Granted for 3 years (Permis de Recherche) • Renewable twice for an additional 2 years each time • Granted for 30 years MINING PERMIT • Renewable for 10 years each time, until depletion of the (Permis d’Exploitation) ore reserves 34
  • 35. Management Bios Joel Jeangrand Mr. Jeangrand has more than 20 years of global experience in marketing, business and corporate development in the natural resource sector and renewable energy business. Prior to joining Great Quest, he held the role of President and President, CEO and CEO of Pan American Hydro Corporation from 2008 to 2012. Previously, Mr. Jeangrand served as VP Corporate Director Development of Spur Ventures Inc., a publicly traded Vancouver-based fertilizer company with a phosphate project in China. He also spent 11 years in roles of increasing responsibility with the Eramet Group and worked in locations such France, Hong Kong and Taipei. He holds an Executive MBA from Simon Fraser University in Vancouver (2005), and earned a Bachelor of Commerce (equivalent) from Ecole Supérieure de Commerce de Toulon, France (1989). Jay Hosanee Mr. Hosanee is a General Certified Accountant who brings over 20 years of senior management experience in corporate finance, auditing and internal control. Prior to joining Great Quest, he held the position of CFO at Mineral Hill and Chief Financial Officer Golden Dawn Minerals Inc.. His international experience include multi-currency group consolidation, overseeing financial reporting and regulatory compliance of several public listed companies. He also held the position of CFO at Loita Group, an investment banking firm focused on Africa. This role gave him tremendous exposure to sub-Saharan markets. Mr. Hosanee is fluent in French and holds a CGA qualification as well as an Internal Auditor certification. Mohammed Bouhsane Mr. Bouhsane brings 20 years of experience in project management and engineering in the Moroccan mining, hydrometallurgical, and metallurgy industries. He spent most of his time at a mining subsidiary of the ONA Group, Chief Operating Officer where he served as project director and project manager of two major projects. Most recently, Mr. Bouhsane was Project Manager at Nareva Holding, managing construction and financing of an irrigation network. Mohammed is a member of the Quebec Order of Engineers. Candice Font Ms. Candice Font comes to GQ with a wealth of experience working in Africa. As a regional manager for Africa Investor, a specialized publication focused on business in Africa, Ms. Font was based in Abidjan, Cote d’Ivoire and Libreville, Investor Relations Gabon from 2008 to 2010. Between 2005 and 2008, she worked as a project manager producing business reports on and Communications the growth opportunities in emerging countries such as Russia, Nigeria, and Qatar. Prior to joining Great Quest, Ms. Font worked in Investor Relations at Silver Bull Resources, Inc. perfecting her expertise in streamlining information flow, cultivating relationships with stakeholders and enhancing companies public profiles. She holds a Bachelor's degree in International Business from the University of Plymouth (UK) and is fluent in English and French. 35
  • 36. Directors Bios John A Clarke Mr. Clarke brings considerable experience in exploration, acquisition and development in the gold mining sector in Africa. He has held roles as Vice Chairman and CEO of Nevsun Resources and Executive Director of Ashanti Goldfields Company Ltd. He Chairman holds B.Sc. in metallurgy from University College Cardiff, a Ph.D. in metallurgy from Cambridge University and MBA from Middlesex Polytechnic. Joel Jeangrand Mr. Jeangrand has more than 20 years of global experience in marketing, business and corporate development in the natural resource sector and renewable energy business. Prior to joining Great Quest, he held the role of President and CEO of Pan Director American Hydro Corporation from 2008 to 2012. Previously, Mr. Jeangrand served as VP Corporate Development of Spur Ventures Inc., a publicly traded Vancouver-based fertilizer company with a phosphate project in China. He also spent 11 years in roles of increasing responsibility with the Eramet Group and worked in locations such as Gabon, Paris, Hong Kong and Taipei. He holds an Executive MBA from Simon Fraser University in Vancouver (2005), and earned a Bachelor of Commerce (equivalent) from Ecole Superieure de Commerce de Toulon, France (1989). Victor Jones Mr. Jones has over 30 years of experience in senior executive and board positions in public mineral exploration and technology companies. He has been active on projects across North America and Africa on financings and JV and acquisition negotiations. Director Mr. Jones received both his B.Sc and MBA from McGill University. Ehud Levy Mr. Levy is a phosphate manufacturing industry consultant, based in Israel. Ehud formed his consulting firm following a 30- year career in Israel with Bateman Engineering and Rotem. At Bateman, he was the managing director of the chemical Director technologies, directing project initiation and new processes for sophisticated applications of phosphates. Gordon Peeling Mr. Peeling has been the president of Mining Association of Canada (MAC) since 1997 and has over 30 years of mining experience in the public and private sectors. Prior to MAC, he served as Vice President at the International Council on Metals Director and the Environment and Director General at both the Mineral Commodities Branch and Mineral Strategy Branch at Natural Resources Canada. Jed Richardson Mr. Richardson graduated from University of Toronto with B.A.Sc. in mineral and geological engineering. He worked for Alcan as an engineer, and RBC and Cormark as research analyst. He is currently a director and the VP Corporate Development of Director Verde Potash (formerly Amazon Mining). Jed is the founding principal of Javelin Partners, consulting firm for junior resource companies. David Shaw Mr. Shaw has worked both in the technical and financial communities in the resource industry. He initiated and developed Resource Research Group at Charlton Securities, worked as Senior Mining Analyst at Yorkton Securities and as a technical Director expert at Chevron Resources. He is well connected within European financial institutions and the mining sector. 36
  • 37. Great Quest Comparables 52-week Ore Resources Stock Share 3m Avg Market Currency Project Stage Project Location M&I Company Ticker Price High Low Vol Cap (m) Total Grade P₂O₅ (Mt) Aguia Resources Ltd AGR:ASX AUD 0.16 0.58 0.12 43,333 $20.15 Drilling Brazil – 21.3 4.6% Arianne Resources Inc DAN:TSXV CAD 1.05 1.44 0.80 82,220 $71.23 Pre-Feas Completed Canada 347.7 462.0 5.5%-6.5% Celamin Holdings CNL:ASX AUS 0.15 0.20 0.09 60,825 $22.85 Drilling Tunisia Algeria 37 – 21% Eagle Star Minerals Corp EGE:TSXV CAD 0.10 0.18 0.07 110,711 $6.07 Drilling Brazil – – – Great Quest Metals Ltd GQ:TSXV CAD 0.53 3.71 0.43 17,755 $22.96 PEA Completed Mali – 50.0 24.3% Legend International Holding LGDI:OTC USD 0.07 0.20 0.06 52,924 $17.18 Feasibility Completed Australia 202.8 516.1 14%-15% MBAC Fertilizer Corp MBC:TSX CAD 3.62 3.75 2.50 72,252 $428.61 Production Target 2012 Brazil 58.8 119.0 5.01%-5.27% Minbos Resources Ltd MNB:ASX AUD 0.12 0.29 0.12 55,007 $15.06 Scoping Study Underway Angola, DRC 340 370.0 12.20% Minemarkers Ltd MAK:ASX AUD 0.18 0.37 0.13 270,899 $42.03 Pre-Feas Completed Australia 1552 1552 11.6% Montero MON:TSXV CAD 0.13 0.12 0.23 65,000 $6.84 PEA Completed South Africa 32.8 7.2% Plains Creek Phosphate PCP: TSXV CAD 0.01 0.03 0.02 493,406 $3.88 Pre-Feas Completed Guinea Bissau 83.8 128.0 29.9-30.1% Rio Verde Minerals RVD:TSX CAD 0.39 0.55 0.18 116,758 $47.42 Scoping Study Underway Brazil 1.9 1.9 11.7%-20.3% Rum Jungle Resources Ltd RUM:ASX AUD 0.24 0.41 0.19 314,464 $49.88 Drilling Australia 13 13.0 15.0% Stonegate Agricom Ltd ST:OTC CAD 0.53 0.90 0.32 25,666 $76.95 Pre-Feas Completed Peru, US 74 376.3 9%-30.6% Strata Minerals SMP:TSXV CAD 0.08 0.13 0.05 23,972 $5.12 Drilling Australia – – – Sunkar Resources Plc SKR:LSE GBP 0.03 0.12 0.03 295,140 £5.29 Feas. Study Underway Kazakhstan 293 475.3 10.5% UCL Resources - Minemaker JV UCL:ASX AUD 0.16 0.37 0.12 23,533 $16.29 DFS nearing completion Australia, Namibia 1828 1,832.0 18.9% Sources: Yahoo Finance, Capital IQ and Company Reports As of December 5, 2012 DFS: Definitive Feasibility Study; PEA: Preliminary Economic Assessment 37
  • 38. Great Quest Metals Ltd IR Candice Font TSX-V: GQ Tel +1 604.689.2882 Suite 515, 475 Howe Street Toll Free 1.877.325.3838 Vancouver, BC, V6C 2B3 Fax +1 604.684.5854 WWW.GREATQUEST.COM Email info@greatquest.com 38