Great Quest Clarifies Its Technical Disclosure, and Northern Peace Agreement - Seite 2

As it has been reported previously by the Company in its continuous disclosure and by international press, Mali has been at the centre of conflicts since the end of 2011, which have hindered a visit by our QP. In 2013 and 2014, the Company has been able to carry out limited work on the property. Two bulk samples were removed and used to produce granulated fertilizers for agronomic trials in 2014. More agronomic trials are scheduled in 2015. This limited work has been carried out by local groups who are able to access the property.

Northern Mali Peace Agreement

The Associated Free Press reports that talks between the Government of Mali and the local forces in the north, facilitated by the Algerian Government, culminated in the proclamation of a ceasefire and an imminent peace deal. The Company is encouraged by new support for peace and national unity by the highest levels of Tuareg and Arab leadership. "I'm against the independence and even autonomy of Kidal," said Mohamed Ag Intalla, who succeeded his father in December as the "Amenokal" -- or highest Tuareg leader -- of the northeastern Ifoghas mountains. Kidal has been the cradle of the Tuareg separatist movement, approximately 250km north east of the Tilemsi project. He went on to say "We must make peace. We must talk among Malians to find out how we will all benefit from development. We need to involve the people (Daily Mail, AFP, February 25. 2015)." Great Quest and local leaders in Northern and Southern Mali agree. The development of the Tilemsi Phosphate project is part of building a lasting peace and an economically vibrant region.

The Way Forward

Encouraged by the Northern Mali Peace Agreement, we still recognize that a visit by a foreign QP in the region at the moment still carries some risks. At this time the Company is unwilling to take these risks. However, as with work on the property, the Company will seek to use national Qualified Persons with extensive experience and knowledge of the area to carry out the required visit. That QP will also supervise the preparation of an amended PEA, which the company intends to file, as soon as a site visit is completed.