4 January 2016
December 15, 2015
TORONTO, CANADA – Northquest Ltd. (TSX.V-NQ) (FWB-N3Q) ("Northquest" or "the Company") acknowledges that Nord Gold N.V. ("Nordgold"), the holder of approximately 52.3% of the Company's outstanding common shares ("Common Shares"), has announced its intention to make an all-cash offer for all of the issued and outstanding Common Shares of the Company not already owned by Nordgold at a price of $0.253 per Common Share (the "Offer"). Nordgold has also announced its intention to requisition a special meeting of the shareholders of the Company for the election of a new slate of directors to the Northquest board.