Northquest Ltd. announces grant of stock options

TORONTO, Oct. 8, 2013 /CNW/ - Northquest Ltd. ("Northquest") (TSXV: NQ) wishes to announce that it has today granted an aggregate of 1,330,000 stock options to officers, directors and other service providers of Northquest, each such stock option entitling the holder thereof to acquire one common share of Northquest at an exercise price of $0.30 for a period of five years.  An aggregate of 445,000 such stock options vest immediately, with the remaining 885,000 stock options vesting as to one-third immediately, one-third on the first anniversary of the date of grant and one-third on the second anniversary of the date of grant.

Northquest is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of gold and other minerals.

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.

SOURCE: Northquest Ltd.

For further information:

Dr. Jon North
President and Chief Executive Officer
Tel. (416) 786-6348

www.northquest.biz

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Northquest Ltd.

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