CQR Conquest Resources Limited

Conquest Resources Limited (TSX VENTURE:CQR) announces the sale today of its
indirectly-held gold properties and assets in Zimbabwe to Mayfair Mining &
Minerals, Inc. ("Mayfair"), a Nevada corporation with a head office in West
Sussex, United Kingdom. The sale was effected by the transfer of 100% of the
issued shares of two wholly owned subsidiaries of Conquest, African Gold B.V.
("African Gold"), a Netherlands company, and Baobab Minerals Limited ("Baobab"),
a British Columbia company. African Gold and Baobab, directly or indirectly,
hold Conquest's Zimbabwe gold projects which have been inactive since 2003.  


The consideration for these assets was 20 million fully paid common shares in
the capital of Mayfair having a contractual value of $2 million and representing
approximately 36.4% of Mayfair's current issued capital. Mayfair has covenanted
in the purchase and sale agreement to obtain a listing of its shares on a
recognized stock exchange or automated quotation system in Canada, the United
Kingdom or the United States and to raise a minimum of CAN$500,000 within six
months of Closing. 


Commenting on the transaction, Conquest's President and Chief Executive, Mr.
Terence McKillen, said, "We are pleased that Mayfair will reactivating these
non-core assets and believe that Mayfair's management team has the vision and
the expertise to develop these and other gold assets in Zimbabwe which will
maximize the return to Conquest in due course. Conquest will continue to focus
exclusively on gold exploration in Canada but is retaining its interest in
Africa through its equity participation in Mayfair." 


ABOUT CONQUEST 

Conquest is conducting ongoing exploration activities at Smith Lake, Ontario and
at the Alexander Gold Project in the heart of the Red Lake Gold Camp, Ontario.
Conquest is also exploring for structurally-hosted gold mineralization under a
joint-venture agreement with Detour Gold Corporation ("Detour Gold") at the
Sunday Lake property located along the Sunday Lake Deformation Zone
approximately seven kilometres east of Detour Gold's 14.9 million ounce proposed
open pit gold mine. Conquest holds 75,000 shares of Detour Gold. 


There are currently 95,477,728 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.

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