June 30 (Reuters) - Ausquest Ltd AQD.AX :
* AUSQUEST- GUNANYA GOLD-COPPER PROJECT ACCEPTED AS A NEW EXPLORATION OPPORTUNITY UNDER STRATEGIC ALLIANCE AGREEMENT
* AUSQUEST LTD - UNDER AGREEMENT SOUTH32 HAS EXCLUSIVE RIGHTS TO CO'S PROJECTS
* AUSQUEST-UNDER AGREEMENT SOUTH32 CAN EARN A 70% INTEREST IN EACH PROJECT BY SPENDING A TOTAL OF US$4.5 MILLION