/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE U.S./
TORONTO, July 24, 2013 /CNW/ - Northquest Ltd. (TSX-V:NQ)
("Northquest") is pleased to announce that it has issued an
aggregate of 883,392 common shares (the "Subject Shares") pursuant
to its option agreement dated December 2,
2010, as amended, in respect of the Pistol Bay Project,
Nunavut (the "Option
Agreement"). Under the terms of the Option Agreement,
Northquest was granted (i) the option to earn a 100% interest in
three mining claims together with certain portions of three
additional claims; and (ii) the supplemental option (the
"Supplemental Option") to acquire a 100% interest in four
additional claims. The Subject Shares have been issued in
full satisfaction of the first anniversary payment due in respect
of the Supplemental Option. The Subject Shares are subject to
a statutory hold period expiring on November
24, 2013.
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 ACCURACY OF THIS RELEASE.
Forward Looking Statements - Certain
information set forth in this news release may contain
forward-looking statements that involve substantial known and
unknown risks and uncertainties. These forward-looking statements
are subject to numerous risks and uncertainties, certain of which
are beyond the control of Northquest, including, but not limited to
the impact of general economic conditions, industry conditions,
volatility of commodity prices, currency fluctuations, dependence
upon regulatory approvals, and the availability of financing.
Readers are cautioned that the assumptions used in the preparation
of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements.
SOURCE Northquest Ltd.