DISCOVERY AND PHOSPHATE POTENTIAL IN MALI

1. DISCOVERY AND PHOSPHATE POTENTIAL IN MALI TSX-V GQ SEPTEMBER 2011 WWW.GREATQUEST.COM

2. 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 Company’s website. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, they may adversely affect the Company’s 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.

3. 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 >14 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) • CIA World Factbook • Malian Government., Reuters

4. 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

5. 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 TarkintEst 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 • TagitN’Ouerane: 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 Remote Sensing Map Phosphate Interpretation Tagit N’Ouerane Chanamaguel Tin Siriden Alfatchafa Tin Hina

6. Phosphate and Mali Phosphate Advisory Board • Agricultural activities occupy 80% of Mali’s 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 Mali’s agricultural industry • Contract with the Malian Institute for Rural Economy (IER): GQ’s 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

7. Tilemsi Phosphate Project Progress Remote Sensing Map Phosphate Interpretation • 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 d’Etablissement 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 Tagit N’Ouerane Chanamaguel Tin Siriden Alfatchafa Tin Hina

8. 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 • DabiaOuest • Bourdala Project (80km2)

9. 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

10. Sanoukou Geology Sampling Results (June 2010)

11. Work Programs - 2011 Q2 Q3 Q4 1st Phase Drilling in Alfatchafa Phase 1 drilling summary report Phosphate Scoping Study 2nd Phase Drilling in Alfatchafa 1st Phase Drilling in Sanoukou Sanoukou Summary Report Gold Fambina Reconnaissance 2012 Gold Exploration planning

12. Tilemsi Phase 1 - 2011 Remote Sensing Map Phosphate Interpretation Tagit N’Ouerane Chanamaguel Tin Siriden Alfatchafa Tin Hina

13. 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.

14. Summary of Phase 1 Tilemsi Drill Program • A total of 275 drill holes for 5049 metres were drilled covering a small portion of the company’s 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.

15. 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.

16. 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 BirimianKenieba gold belt in western Mali WWW.GREATQUEST.COM

17. 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 (604) 689-2882 (877) 325-3838 Info@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 BirimianKenieba 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

18. Closing comment • World population approaching 7 billion • UN forecast growth to 9 billion • “You can’t feed the people without feeding the plants” - Kennedy School researcher • One of our greatest challenges and one of our greatest opportunities