http://www.investors.com/NewsAndAnalysis/Newsfeed/Article/137002822/201110170805/New-Gold-Agrees-to-Acquire-Silver-Quest-Resources-Ltd-Consolidates.aspx

VANCOUVER, BRITISH COLUMBIA, Oct 17, 2011 (MARKETWIRE via COMTEX) -- New Gold Inc. ("New Gold") (NGD)(NGD) and Silver Quest Resources Ltd. ("Silver Quest") (SQI) today jointly announce a binding letter agreement whereby New Gold will acquire, through a plan of arrangement (the "Arrangement"), all of the outstanding common shares of Silver Quest. Under the terms of the Arrangement, Silver Quest shareholders will receive 0.09 of a New Gold share (the "Share Consideration") for each Silver Quest share held and one common share in a new Yukon-focused precious metals exploration company, McIntyre Minerals Inc. ("McIntyre") for every three Silver Quest shares held (the "Spinco Consideration"). The offer values Silver Quest at $1.32 per share, representing a 52% premium based on the combination of: