AusQuest Limited 6 Kearns Crescent Ardross WA 6153 (T): 08 9364 3866 (F): 08 9364 4892
www.ausquest.com.au
November 23, 2009
ASX Release
COMPANY UPDATE POTENTIAL JOINT VENTURE
AusQuest Limited (ASX: AQD) ("AusQuest") advises that it is currently engaged in
advanced discussions with an overseas company regarding a potential farm-in to an
exploration project in West Africa.
The farm-in opportunity being assessed by AusQuest relates to a number of gold prospects
that have been identified by surface sampling and which are ready for drill testing.
Whilst discussions continue to progress, there is no assurance that a transaction will
ultimately be concluded. AusQuest will provide further updates on the status of its discussions
as and when appropriate.
Graeme Drew
Managing Director
COMPETENT PERSON'S STATEMENT
The details contained in this report that pertain to exploration results are based upon information compiled by
Mr Graeme Drew, a full-time employee of AusQuest Limited. Mr Drew is a Fellow of the Australasian Institute
of Mining and Metallurgy (AUSIMM) and has sufficient experience in the activity which he is undertaking to
qualify as a Competent Person as defined in the December 2004 edition of the "Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr Drew consents to the inclusion
in the report of the matters based upon his information in the form and context in which it appears.
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