The New Energy'''

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The New Energy...
In Uranium Exploration
FIA Group Presentation New York City, NY
May 13, 2008
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DISCLAIMER

• Forward Looking Statements
• Except for the statements of historical fact
  contained herein, the information presented
  constitutes forward-looking statements within
  the meaning of the Private Securities Litigation
  Reform Act of 1995. Such forward-looking
  statements involve known and unknown risks,
  uncertainties and other factors which may cause
  the actual results, performance or achievement of
  the Company to be materially different from any
  future results, performance or achievements
  expressed or implied by such forward-looking
  statements.
•  
• Although the Company has attempted to identify
  important factors that could cause actual results
  to differ materially, there may be other factors
  that cause results not to be as anticipated,
  estimated or intended. There can be no assurance
  that such statements will prove to be accurate as
  actual results and future events could differ
  materially from those anticipated in such
  statements. Accordingly, readers should not place
  undue reliance on forward-looking statements. 
• Cautionary Note to U.S. Investors Concerning
  Estimates of Measured, Indicated and Inferred
  Resources
• This presentation uses the terms Measured,
  Indicated and Inferred Resources. U.S.
  investors are advised that while such terms are
  recognized and required by Canadian regulations,
  the Securities and Exchange Commission does not
  recognize them. Inferred Resources have a great
  amount of uncertainty as to their existence, and
  great uncertainty as to their economic and legal
  feasibility. It cannot be assumed that all or any
  part of an inferred resource will ever be
  upgraded to a higher category. Under Canadian
  rules, estimates of Inferred Resources may not
  form the basis of feasibility or other economic
  studies. U.S. investors are also cautioned not to
  assume that all or any part of an Inferred
  Mineral Resource exists, or is economically or
  legally mineable. 
• National Instrument 43-101
• This presentation may include historical reserve
  and resource information in respect of the
  Abitibi region that does not conform to the
  requirements of National Instrument 43-101 and
  which has not been verified by the Company.

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Quest Uranium Corporation - Why Uranium and Why
Quest?

• Why Uranium?
• Public perception issues
• Power generation growth capacity to 2030
• Anticipated supply-demand fundamentals
• Why Quest?
• Experienced and respected management technical
  team
• Focused on discovery of world-class uranium in
  North America
• Projects in Canadas premier frontier uranium
  areas
• Quebec - George River, James Bay (Midland)
  Option
• Ontario - Kenora North, Aerobus, Claw Lake,
  Croon Lake

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Public Perception and Acceptance of Nuclear Power

• Efficient with a very small surface footprint
• 1 t U3O8 16,000 t coal 80,000 bbl oil
  4,000 km2 wind farm

• Inexpensive relative to all forms of available
  power generation (1.7/KWh)
• i.e. - versus coal (2.4), natural gas, wind

• Clean, non-greenhouse gas emitting even the
  environmentalists admit to this fact

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The Nuclear Renaissance Public Acceptance ?
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Anticipated Power Generation Capacity Growth and
Fuel Trends to 2030

• Near doubling of generation capacity required to
  meet demand by 2030 (30,364 vs. current 16,424
  TWh)
• Non-oil fossil fuel generation (coal, natural
  gas) projected to account for 70 by 2030,
  particularly in Asian (China, India) states
• Signing of Kyoto Protocol by China, India may
  force them to lessen coal-generation dependence
  so as to reduce Greenhouse Gas emissions. Will
  seek Green Power alternatives.
• UK, Germany, former Eastern Block countries,
  Asia considering important expansions of nuclear
  generation capacity
• As many as 237 reactors may be built globally by
  2030 (gt10 per year), which compares with 78 (lt4
  per year, 1986 to present)

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Power Generation Fuel Trends and Nuclear
Generation Growth
Data International Energy Agency (2005) and US
Energy Information Administration (2004)
Statistics
Source - World Nuclear Association, March 2008
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Anticipated Uranium Supply-Demand Fundamentals
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Why Quest? Clean Capital Structure

• Capital Structure (to April 23-08)
• Stock Exchange Symbol QUC (TSV-Venture)
• (listed on JAN 16-08)
• Shares Outstanding Issued 21.6 million
• Fully Diluted 23.7 million
• Trading Range 0.18 - 0.395
• Last Traded 0.185
• Market Capitalization 4.0 million
• Working Capital 2.3 million

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Why Quest? Highly-Respected Management

• Peter J. Cashin President CEO
• Mackenzie I. Watson Chairman
• Ronny Kay Chief Financial Officer
• Neil Wiener, LLB Corporate Secretary
• Daniel B. Larkin Director
• Michael Pesner Director
• Mark Schneiderman - Treasurer

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Why Quest ? Model of Opportunity
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Why Quest ? High-Potential Properties in
Canadas Premier Frontier Areas
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Why Quest? High-Potential Uranium Projects

• Quebec Labrador
• (George River) Uranium Property

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George River Project, Quebec Labrador

• Located 175 km northeast of Schefferville,
  Quebec (125 km west of the CVRD Voiseys Bay
  Mine)
• Strong interest in Nickel, Iron Ore, Copper and
  Uranium
• Excellent potential for sedimentary- and
  intrusive-hosted uranium deposits
• Quest has property covering large areas of
  radioactivity and uranium mineralization

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George River Project Quebecs Most Active
Frontier Area

• The area straddles the suture between Archean
  (west) to Proterozoic-age (east) geologic domains
• Represents a significant new area for uranium
  discovery
• Uranor (Areva), Vale, Azimut, Virginia Mines,
  Majescor and Altius Minerals have important land
  positions in the area

Quest Uranium Corporation
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George River Project Property Position

• Quest has acquired over 550,000 acres in this
  Belt
• Utilized numerous uranium in-lake sediment
  anomalies present in the George River area to
  identify targets
• Only previous airborne geophysical coverage was
  1980s Federal surveys
• Good outcrop and sub-crop exposure conducive to
  surface prospecting

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George River Project Nanuk Prospect

• Four significant areas of bedrock uranium
  mineralization up to 1 km wide and 5 km long
  discovered
• Grades up to 1.18 (23.6 lbs/ton) U3O8
  identified
• Nanuk 1 shows large, pervasive area of uranium
  mineralization
• University research (McGill U.) on the geology,
  genesis and timing of uranium mineralization to
  commence this summer

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George River Project Stewart Lake Property
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George River Project - Stewart Lake Prospect

• Prospecting traced uranium trend over 3 km
  strike-length
• Grades up to 0.80 (16 lbs/ton) U3O8 identified
• Good outcrop and sub-crop exposure conducive to
  surface prospecting

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Nanuk Uranium Occurrence
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Why Quest ? James Bay Option

• James Bay Option Property
• (Midland Exploration)

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James Bay Option Known U Resources

• Located in the James Bay area of NW Québec along
  the Hydro Québec LG infrastructure
• Hosts excellent potential for unconformity-type
  (Saskatchewan) uranium deposits
• Area with significant resources (Sakami Lake,
  Dieter Lake 10M 24M lbs U3O8)
• Can earn 50 interest in over 126 km2 covering
  the unconformity
• Quest is operator

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James Bay Option Property Areas
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James Bay Option LG3 (Ganiq) Property
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James Bay Option LG4 (Seggau) Property
Boulders grading 1-2 U3O8
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James Bay Option Proposed Work

• Complete airborne radiometric, magnetometer and
  EM surveys over the trace of the unconformity on
  the claims (1,150 line-km)
• Use prospectors to relocate all historical
  occurrences and boulder fields and use geophysics
  to guide crews to new target areas
• Complete geological mapping and rock geochemical
  surveys during summer
• Winter gridding and ground geophysics in
  preparation for winter 2009 diamond drilling

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Why Quest? Ontario Uranium Properties

• Ontario Uranium Properties

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Ontario Uranium Properties
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Kenora North U/Th Ratio Map
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Kenora North Project
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Kenora North Project - Geology and Mineralization

• Geological Setting
• Uranium hosted in a variety of granitoid rocks
  formed by partial melting and digestion of
  metasedimentary rocks and other magmas
• Host rocks are highly strained with uranium
  mineralization closely associated with
  metasedimentary rock inclusions
• Sampling Results
• Mineralization evident over significant strike
  lengths from 500 m to 4.0 km and over a width of
  200-800 m within high-strain zones
• Sampling over 5-week period showed uranium
  mineralization related to a 50-km long government
  airborne radiometric anomaly
• No evidence of prior diamond drilling of the
  known occurrences

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Canfer Surface Occurrence 0.362 U3O8
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Pancer Occurrence - Mineralization
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New Find - Thor Occurrence Mineralization
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Kenora North Uranium Properties In Summary

• Large property position (36,000 acres, 50-km
  long) uranium-bearing corridor at the contact
  between the Winnipeg River greenstone belt and
  the English River sedimentary-gneiss belt
• Variety of uranium mineralizing styles present
  across the property
• Several new uranium occurrences were discovered
  (Thor) in addition to the finding of the known
  showings
• Greater than 22 of samples collected returned
  gt0.1 U3O8 with samples returning up to 0.362
  U3O8 (7.2 lbs/ton)
• Excellent forestry road access ensuring
  relatively low cost exploration costs and the
  ability to explore year-round

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Finally...Why Quest?

• New Brunswick (Plaster Rock) Uranium Property

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Plaster Rock Property Geology and Mineralization

• Property comprised of 230 claims covering 3,723
  hectres
• Historical work yielded assays of up to 0.24
• (4.8 lbs/ton) and 2.87
• (57 lbs.ton) U3O8
• Mineralization hosted by Carboniferous sediments
  in fault-contact with Devonian sediments
  volcanics
• None of the targets have been drilled

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Plaster Rock Property Airborne Radiometric
Survey
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In Summary

• Why Quest?
• Experienced and respected management technical
  team
• Focused on discovery of world-class uranium in
  North America
• Projects in Canadas premier frontier uranium
  areas
• Quebec - George River, James Bay (Midland)
  Option
• Ontario - Kenora North, Aerobus, Claw Lake,
  Croon Lake
• New Brunswick - Plaster Rock
• Well financed

• Has intentions of adding value through
  acquisitions of properties with in-situ resources
  in SW United States

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Thank You