Conquest Resources Limited - Press Release

- DRILLING COMMENCES AT ALEXANDER PROPERTY, RED LAKE, ONTARIO

TORONTO, Sept. 2 /CNW/ - Conquest Resources Limited (TSX-V: "CQR") is pleased to announce the commencement of drilling at its Alexander Gold Project in Red Lake, Ontario by Boart Longyear Canada. Phase one of a two-phase programme will comprise 4,000 metres of NQ drilling in the west and central portions of the property is expected to be completed by late October. Sampling and assaying of split core is expected to take five to six weeks after completion of the last drill hole with full reporting anticipated prior to the end of the year.

Conquest's Phase One drill programme is designed to test prospective stratigraphic and structural horizons at depth identified in previous drilling, surface trenching, geochemical soil surveys, airborne geophysical surveys, and recent surface drilling conducted by Goldcorp Inc. on to the property. Prospective massive sulphide and quartz-carbonate vein associated gold mineralization targets will be tested to vertical depths of approximately 500 metres within volcanic and sedimentary lithologies, along a strike length of about 1,800 metres extending from the boundary with Goldcorp's Red Lake mine property towards the central portion of the Alexander property. Gold mineralization potential in this area extending eastward from the adjacent mine infrastructure is open at depth.

ABOUT THE ALEXANDER PROPERTY

The Alexander Gold Project in Balmer Township is 100% owned by Conquest and is situated within the prolific Red Lake Gold Camp "Mine Trend". The property lies immediately adjacent to Goldcorp's Red Lake and Campbell gold mines, which contain historic production and current resources in excess of 25 million ounces of gold, and is located approximately 1,000 metres east of the Red Lake Complex headframe and within 400 metres of the Far East gold zone at the Red Lake gold mine. Many of the regional structures that have associated gold mineralization in the area of Goldcorp's two producing mines continue through the Alexander Property. Recent drilling by Goldcorp intersected 14.26 grams of gold over 0.61 metres on the Alexander property at a vertical depth of 300 metres.

QUALIFIED PERSON

Information of a scientific or technical nature contained in this release has been prepared by or under the supervision of Terence McKillen, P.Geo., the Chief Executive Officer of the Corporation and a Qualified Person within the meaning of National Instrument 43-101 of the Canadian Securities Administrators.

ABOUT THE COMPANY

Conquest is exploring several gold projects in Ontario. These include the Alexander Gold Project at Red Lake; the Aurora and Sunday Lake properties at Detour Lake; the King Bay Gold Project at Sturgeon Lake (60% interest); and the Smith Lake Gold Project at Missanabie.

There are currently 72,663,830 shares of Conquest issued and outstanding.

This news release may include certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, exploration results, and future plans and objectives of Conquest, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Conquest's expectations are exploration risks detailed herein and from time to time in the filings made by Conquest with securities regulators.

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 the accuracy of this release.