Conquest Mining Limited (ASX:CQT) Potential High Grade Silver Pit Identified At Silver Hill

Perth, Sep 18, 2009 AEST (ABN Newswire) - Conquest Mining Limited (ASX:CQT)(PINK:CQMLF) advises that detailed drilling, ore body modelling and metallurgical testwork in connection with the Silver Hill Definitive Feasibility Study has confirmed a potential discrete high grade silver pit at the 100% owned project in northern Queensland.

The DFS has indicated that Silver Hill has two distinct mining areas, each with its own very different metal characteristics. The main pit area encompasses a high gold/copper mineral composition whereas Area 39 (Silver Pit) is much lower in gold and copper but has a very high silver grade.

The metallurgical characteristics of these deposits are very different. The high silver grade (and hence potentially high value) of the silver pit necessitates this deposit being evaluated separately for an opportunity to extract a high value product and add significant cash flow to the project up front.

Initial testwork shows concentrates produced from the Silver Pit to have the potential to contain between 4.5 and 5 million ounces of silver. This is conceptual in nature and is based on the resource estimate for the Silver Hill Deposit which shows 34 million ozs of silver in the Measured and Indicated categories.

The concentrates will be at grades of 3,000 to 9,000 grams per tonne silver.

For the complete Conquest Mining ASX Announcement, please click the link below:

http://www.abnnewswire.net/media/en/docs/61462-ASX-CQT-460590.pdf

Contact

John Terpu Managing Director Conquest Mining Limited Tel: +61-8-9240-4111 Email: john@chellingtons.com.au