VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 4, 2010) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis") is pleased to provide an update on mineral exploration being carried out on its Prospector Mountain project, Yukon, by optionee Silver Quest Resources Ltd. (TSX VENTURE:SQI) ("Silver Quest").

Silver Quest today reported that it had received assays from 84 select prospecting samples collected from the Bonanza Zone at Prospector Mountain, along with 221 soil samples from the same area. Silver Quest's sampling program returned two select rock samples which assayed 109 g/t gold and 53 g/t gold respectively.

Select rock samples collected by Silver Quest within the Bonanza Zone at Prospector Mountain confirm the highly anomalous assays reported by Tarsis in 2009, which included gold values up to 82.8 g/t (Press Release dated November 17, 2009). Samples taken are predominantly 'float' samples collected within a felsenmeer environment.

Highlights from the Silver Quest rock sampling include:

Sample	Gold (g/t)	Copper (%)	Silver (g/t)
I031029	109.0	1.63	543
I031039	53.0	2.20	470
I031040	20.3	0.15	29.6
I031047	12.6	0.21	56.6
I031033	6.42	3.16	509
I034464	3.43	-	47.0
I031026	2.93	0.02	36.3
I034470	1.62	0.16	153.0

Gold assays from rock samples range from below detection to 109 g/t, copper values range from 2 ppm to 3.16% and silver values range from less than 0.1 g/t to 543 g/t.

Silver Quest also reports the definition of three new gold-in-soil geochemical anomalies within a 1,000 meter by 550 meter zone. The soil samples were collected every 25 meters along 100 meter-spaced lines in and around the Bonanza Zone.

Highlights from the soil sampling program include:

Sample	Gold (g/t)	Silver (g/t)	Copper (ppm) (ppm)(g/t)
I033013	0.38	0.3	59
I030829	0.34	1.2	248
I030877	0.29	0.1	21
I034423	0.22	1.5	22
I030831	0.14	0.9	153
I030928	0.12	0.4	72
I030830	0.11	2.5	375
I034411	0.11	0.2	49
I034430	0.11	0.2	47

Gold in soil assays vary from below detection to 0.38 g/t, copper varies between 15 ppm and 375 ppm and silver varies between less than 0.1 g/t and 2.5 g/t. Soil development within the survey area is variable with locally poor zones due to the presence of relatively fresh felsenmeer. The distribution of gold within the Bonanza vein system is not homogenous and requires further definition work.

Silver Quest intends to carry out a drill program in September at Prospector Mountain. The planned drill program will consist of 10 shallow drill holes approximately 100 metres in length to test for mineralization below the Bonanza Zone.

Silver Quest has an option to acquire an initial 60% interest in the Prospector Mountain property by completing the following:

• Spending $4 million on exploration over four years (2010 - $350,000)
• Issuing one million Silver Quest shares to Tarsis (200,000 issued)
• Making payments of $300,000 ($50,000 paid to date)

Silver Quest may earn an additional 10% interest by completing a feasibility study.

Tarsis' President and CEO, Marc G. Blythe, stated, "We are very happy that Silver Quest have confirmed and built on our 2009 success and we look forward to a successful drill program next month."

Silver Quest has engaged the highly experienced Equity Exploration Consultants Ltd. to manage the exploration program at Prospector Mountain. Assaying was conducted by the ALS Laboratory Group in North Vancouver, BC, which is an ISO 9001:2000 certified laboratory. Samples were analyzed using a 41-element ICP-MS package and a 30-gram fire assay with AA finish.

The qualified person responsible for the technical disclosure in this press release is Marc G. Blythe, P.Eng. Mr. Blythe is the President and CEO of Tarsis Resources and he has reviewed the content of this release.

About Tarsis Resources

Tarsis is an exploration company following the prospect generator business model, with fourteen mineral properties in Yukon, Canada and one in Mexico. The Company acquires projects on attractive terms, adds value and then vends or options out projects to partners for advancement.

The Company currently has 17,912,970 shares issued and outstanding.

Tarsis Resources Ltd.

Marc G. Blythe, P.Eng., MBA., President and Chief Executive Officer