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Signing of Exploration Agreement, June 27, 2008

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Mayor Georgina Jolibois of the Northern Village of La Loche, signing Exploration Agreement with Oilsands Quest Inc.

Christopher H. Hopkins, President & Chief Executive Officer of Oilsands Quest, signing on behalf of Oilsands Quest.

The Exploration Agreement formalizes the agreement between La Loche and Oilsands Quest to work together to identify and address economic, social and environmental issues. It supports economic development, employment, infrastructure and training opportunities and initiatives for local residents.

At the signing of the Agreement in the Northern Village office (left to right): Alderman Kevin Herman, Mayor Georgina Jolibois, Alderperson Brenda Janvier, Alderperson Holly Toulejour, Christopher H. Hopkins (President & CEO, Oilsands Quest), Alderman Randy Herman and Robert St. Pierre (Community Liaison, Oilsands Quest).