DISCOVERY AND PHOSPHATE POTENTIAL IN MALI

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DISCOVERY AND PHOSPHATE POTENTIAL IN MALI
TSX-V GQ
SEPTEMBER 2011 WWW.GREATQUEST.COM
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FORWARD LOOKING STATEMENTS
This presentation contains forward-looking
statements or forward-looking information within
the meaning of applicable securities legislation
(hereinafter collectively referred to as
"forward-looking statements") concerning the
Company's plans for its properties, projects,
operations, subsidiaries and other matters.
These statements relate to analyses and other
information that are based on forecasts of future
results, estimates of amounts not yet
determinable and assumptions of management
regarding operations of the Company which are
subject to a variety of business and market
risks, including political and regulatory risks
associated with mining and exploration in
Mali. Any statements that express or involve
discussions with respect to predictions,
expectations, beliefs, plans, projections,
objectives, assumptions or future events or
performance (often, but not always, using words
or phrases such as "expects" or "does not
expect", "is expected", "anticipates" or "does
not anticipate", "plans", "estimates" or
"intends", or stating that certain actions,
events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved)
are not statements of historical fact and may be
forward-looking statements. These
forward-looking statements are based on certain
assumptions which the Company believes are
reasonable, however, forward-looking statements
are subject to a variety of business and
political risks and uncertainties. Some of the
important risks and uncertainties that could
affect forward-looking statements are also
described in the Company's continuous disclosure
filings made with Canadian securities regulatory
authorities, which are available at the SEDAR
website and on the Companys website. Should one
or more of these risks and uncertainties
materialize, or should underlying assumptions
prove incorrect, they may adversely affect the
Companys business and prospects and actual
results may vary materially from those described
in forward-looking statements. Forward-looking
statements are made based on management's
beliefs, estimates and opinions on the date the
statements are made and the Company undertakes no
obligation to update forward-looking statements
if these beliefs, estimates and opinions or other
circumstances should change, other than as
required by applicable laws. Investors are
therefore cautioned against placing undue
reliance on forward-looking statements.
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Mali, West Africa

• Landlocked country in West Africa, with road and
  rail access to the Atlantic
• Constitutional democracy since 1992 one of the
  most politically and socially stable countries in
  Africa
• Area of 1.2 million km2 and population of
  gt14 million1 growing at 2.6 pa
• Agricultural sector represents 39 of GDP and
  80 of workforce1
• Third largest producer of gold in Africa
• 60 tonnes of Gold expected in 20112
• Mining friendly environment with numerous active,
  international exploration and production firms
• GQ active for over 15 years

Mali stands out as a stable democracy in the
midst of the troubled West African region. The
predominantly Muslim country began a transition
to democracy in 1992 and continued with a
peaceful change of power in 2002. - USAID,
Africa (July 22, 2010)

1. CIA World Factbook
2. Malian Government., Reuters

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World Phosphate Supply and Demand
Phosphate is the naturally occurring form of the
element, phosphorus. It is one of three key
ingredients of agricultural Fertilizers Phosphate
from mineral deposits is the only source of
phosphate used in the manufacture of
fertilizers 90 of phosphate is used for
fertilizer Phosphate is also used for animal
feed supplements, food preservatives,
anticorrosion agents, cosmetics, fungicides,
ceramics, water treatment and metallurgy Two
sources of phosphate ? Sedimentary Rock
Igneous Rock 80-90 of world production provided
by sedimentary rocks Moroccan phosphate rock
regarded as standard with 30 P2O5 grade mining
1-3m wide beds
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GQ Focus on Tilemsi Valley

• Two phosphate concessions in Tilemsi Valley (737
  km2)
• 94 interest in Tilemsi-Tin Hina Concession (417
  km2)
• 97 interest in Tarkint Est Concession (320 km2)
• GQ - High grade phosphate discovery
• GQ Summer 2009 - 5.11 to 33.05 P2O5 , initial
  16 samples averaged 24.5 at thickness of 0.4m to
  1.7m from Alfatchafa Hill
• Other key areas of interest
• Chanamaguel Historical sample of 25.4 P2O5 over
  1m and 29.1 P2O5 over 0.95m
• Tagit NOuerane Historical samples of 10.65-
  20.99 P2O5 with an average of 16.96 P2O5 over
  0.1-0.8m thickness
• Tin Siriden Confirmed phosphate bed
• Tamaguilet is one of the best studied
  areas of Malian phosphate rock
• Historical grade of 27 (1959)
• Average thickness of 0.8m to 2.5m
• 100,000 tonnes mined from 1970 to 2000

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Phosphate and Mali
Phosphate Advisory Board

• Agricultural activities occupy 80 of Malis
  labor force and provide 39 of GDP
• Products include cotton, pearl millet, maize,
  rice, tobacco, vegetables
• 85-90 of arable soils in Mali are iron-rich
  tropical soils, generally low in phosphorus
• Food and Agriculture Organization in Africa is
  actively promoting the use of ground phosphate
  rock as a fertilizer

• GQ formed a Phosphate Advisory Board to share
  International and Malian expertise. Task to
  improve/optimize the application process and the
  solubility of Tilemsi phosphate rock as a direct
  application fertilizer for Malis agricultural
  industry
• Contract with the Malian Institute for Rural
  Economy (IER) GQs direct contact with
  representative farmers who would use the material
  in sample plots to demonstrate effectiveness.
• An draft study of the agricultural application of
  phosphates in Mali by IER has been completed

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Tilemsi Phosphate Project Progress

• June 2010 Expansion of phosphate assets to 737
  km2
• July 2010 Phosphate advisory committee
  appointed Ehud Levy joins the board
• January 2011 30 year Convention dEtablissement
  received, allowing Great Quest to move forward
  with further exploration and drilling
• February 2011 Remote sensing identifies
  phosphate targets
• May July 2011 Phase 1 drilling - 275 holes
  5049 meters
• October 2011 Phase 2 drilling to commence

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Gold Projects in Western Mali

• Kenieba Inlier (Birimian)
• A prolific gold belt in western Mali
• Gold mines in the area
• Sadiola and Yatela (Anglogold/IAMGOLD)
• Loulo and Gounkoto (Randgold)
• Segala and Tabakoto (Avion Gold Corp.)
• Great Quest holds 100 of two gold projects
• Sanoukou Project (148 km2)
• Sanoukou
• Fambina
• Dabia Ouest
• Bourdala Project (80km2)

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GQ Gold Projects - Timeline

• Jan 2010 Sale of Djambaye 11 Gold discovery
  funds Great Quest
• April 2010 Acquired Sanoukou gold concession (24
  km2)
• April 2010 Initial exploration program completed
  on Dabia West (82 km2)
• June 2010 Sampling program at Sanoukou
  identifies gold in 8 albitite dykes, over 6 km of
  strike length
• July 2010 Jed Diner report on geology and
  exploration potential on Sanoukou Claim
• August 2010 Great Quest acquires Fambina gold
  concession (42 km2)
• April 2011-current Initial 13 hole drill
  programme at Sanoukou completed and results under
  analysis

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Sanoukou Geology
Sampling Results (June 2010)
Name Length (m) No. ofSamples Gold(ppb) Avg ppb g/tEquiv
Sanoukou Daganiaba 2,086 16 10 - 14,200 3,559 3.56
Sanoukou - Daganiaba Ouest 978 4 725 - 25,975 10,614 10.61
Sanoukou Daganiani 3,587 26 17 - 15,962 1,932 1.93
Sanoukou Dansilato 2,424 31 42 - 13,937 2,248 2.25
Sanoukou - Findikalato 2,076 26 25 - 25,975 1,726 1.73
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Work Programs - 2011
Q3
Q4
Q2
2012 Gold Exploration planning
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Tilemsi Phase 1 - 2011
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Proposed Tilemsi Tin Hina Phase 2 - 2011
Tin Hina AC drilling 2011. Red diamonds
executed drill holes Blue diamonds planned
drill holes, not drilled yet. Purple diamonds
GPS readings around phosphate outcrops Red
polygons Remote sensing Phosphate anomalies,
Purple polygon outline of phosphate bed defined
by drilling.
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Summary of Phase 1 Tilemsi Drill Program

• A total of 275 drill holes for 5049 metres were
  drilled covering a small portion of the companys
  737 km2 project.
• The program was executed on 2 of the presently
  defined 3 target areas the Tin Hina and
  Alfatchafa hills. The highly prospective
  Chanameguille target will be tested in the phase
  2 drilling program.
• At Tin Hina drill holes intersected 2 distinct
  horizons (seams) of phosphate mineralization seam
  A averaged 23.73 P2O5 present in 104 of the
  drill holes averaging 1.43m thick intercepted at
  an average depth of 6.62 m, a second seam was
  identified in 4 of the holes averaging 27.60
  P2O5 intercepts average 1.75m thick at an average
  depth of 8.00m from seam A. Successful drill
  holes cover a surface area of approximately 6.75
  km2 on this target area.
• Drilling at the Alfatchafa target identified a
  single seam, samples averaged 22.59 P2O5 from 68
  drill holes averaging 0.90m at an average depth
  of 18.75m. Successful drill holes covered an area
  of approximately 6.70 km2 on this target area.

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Tilemsi Phase 1 - Conclusions

• Assay results suggest the phosphate rock in both
  target areas is identical and of very high
  quality.
• The ore is free of many of the common impurities
  that plague phosphate ores including cadmium, and
  uranium.
• The ore has negligible organic carbon and the
  CaO/ P2O5 ratio points to ore clean of calcite.
• No grain size analysis or concentration tests
  were completed in this phase of work. Historical
  work suggests that very inexpensive techniques
  could be used to achieve attractive concentrate
  grades, and simply remove alumina- and ferro-
  oxides.

Area P2O5 SiO2 Al2O3 Fe2O3 CaO MgO Na2O K2O TiO2 MnO BaO LOI CaO/P2O5
Alfachafa 22.69 17.44 4.71 6.76 33.42 1.15 0.23 0.24 0.36 0.93 0.09 10.14 1.47
Tin Hina A 23.73 16.08 4.22 7.13 34.65 0.85 0.23 0.24 0.38 1.35 0.20 9.73 1.46
Tin Hina B 27.60 9.49 2.77 5.63 40.56 0.69 0.27 0.17 0.22 1.31 0.14 9.30 1.47
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GQ Summary

• Focused on exploration of the Tilemsi Phosphate
  Project in Eastern Mali
• Significant land package 737 km2 with plans to
  further extend land area
• First phase drilling complete discovering 13.45
  km2 of phosphate mineralisation.
• Second phase drilling during Q4 2011
• Gold opportunities
• Four gold concessions located along the
  productive Birimian Kenieba gold belt in western
  Mali

WWW.GREATQUEST.COM
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Bamako Office Sise Hamdallaye ACI 2000 Immeuble
Mgr Jean Marie CISSE 2ème Etage Bamako, Mali
Vancouver Office 475 Howe St., Suite
515 Vancouver, BC V6C 2B3 [phone] (877)
325-3838 Info_at_greatquest.com
GQ Summary

• Focused on exploration of the Tilemsi Phosphate
  Project in Eastern Mali
• Significant land package 737 km2 with plans to
  further extend land area
• First phase drilling complete discovering 13.45
  km2 of phosphate mineralisation.
• Second phase drilling during Q4 2011
• Gold opportunities
• Four gold concessions located along the
  productive Birimian Kenieba gold belt in western
  Mali

Shares outstanding 42.6m Fully diluted
45.7m Market Capitalization of 126 m 52 week
- high 4.88 -low 1.15 Cash 4.0
m Ticker GQ on TSX-V
12 month share performance,
WWW.GREATQUEST.COM
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Closing comment

• World population approaching 7 billion
• UN forecast growth to 9 billion
• You cant feed the people without feeding the
  plants - Kennedy School
  researcher
• One of our greatest challenges and one of our
  greatest opportunities