Great Quest Gold Provides Update on Proposed Reverse Takeover with Lotus Gold Corporation.

Great Quest Gold has amended its reverse takeover agreement with Lotus Gold Corporation, changing the consolidation ratio of Great Quest's shares to 16-to-1. Shareholders of both companies have approved the deal, with Lotus now seeking final court approval. The companies will also complete a concurrent financing of up to $3.5 million, issuing 7 million shares at $0.50 each. The resulting issuer will be renamed Ongwe Minerals Inc. and trade on the TSX Venture Exchange under the symbol "OGW".