Great Quest Clarifies Its Technical Disclosure, and Northern Peace Agreement

VANCOUVER, BC--(Marketwired - March 02, 2015) - Great Quest Fertilizer Ltd (TSX VENTURE: GQ) (FRANKFURT: GQM) ("the Company) reports that, as a result of a review by the British Columbia Securities Commission (the "BCSC") of the Preliminary Economic Assessment ("PEA") the Company filed on SEDAR on January 30, 2015, the Company is issuing the following news release to clarify its technical disclosure.

Given the conflict in Northern Mali and the volatile security situation, the Company has not completed regular site visits by its qualified person ("QP"). However, the company has conducted management visits and continues to do work at the site with national geologists and labourers, to support technical and product development, without further development of its resource estimate. The existing disclosure about resources and the PEA does not meet the requirements of National Instrument 43-101 and should not be relied on until current site inspections by independent QPs have been completed and the Company files an amended technical report to support its disclosure.

Non-Compliant technical report

The key BCSC comments on non-compliance relate to the lack of current personal inspections by the technical report authors, including our independent foreign QP, Jed Diner, the report's reliance on others for some of the information required by NI 43-101, and use of appropriate discount rates for economic analysis in the jurisdiction. Mr. Diner's last visit was May 14-15, 2011, prior to conflict in the region. During this visit, he observed the initial drill program and reviewed the planning of the second phase. These two programs delineated the Tilemsi phosphate inferred resource. Great Quest subsequently completed additional drilling and bulk sampling work for mine planning and for developing its direct application product. Section 6.2 of National Instrument 43-101 ("NI 43-101") requires that at least one QP who is responsible for preparing or supervising the preparation of all or part of the technical report to complete a current personal inspection of the property that is subject of the technical report.