VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 16, 2013) - GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) ("GoldQuest" or the "Company") is pleased to announce assay results from three drill holes from the Romero mineralization, one from La Escandalosa and one in a previously undrilled area between Romero and La Escandalosa. All holes are located within the Company's 100% owned Las Tres Palmas trend in the Dominican Republic. The first hole is underway at the Guama anomaly, 2 kms west of Las Tres Palmas, where surface sampling included results up to 34% copper, overlying a strong chargeability anomaly.
Drilling Highlights include (Romero Drilling):

• LTP 132: 130 metres grading 1.22 g/t gold & 0.24% copper (1.61 g/t gold equivalent)
  • Incl. 17 metres grading 6.21 g/t gold & 0.90% copper (7.68 g/t gold equivalent)
• LTP 137: 123 metres grading 0.92 g/t gold & 0.24% copper (1.31 g/t gold equivalent)
  • Incl. 65 metres grading 1.30 g/t gold & 0.31% copper (1.81 g/t gold equivalent)

Hole LTP-132 is an inclined hole drilled to test the Romero South IP anomaly (insert link see press release February 22, 2013). The intersection is over 400 meters south-east of the Romero discovery hole LTP-90. The majority of the IP anomaly remains untested and the mineralization is open. Hole LTP-137 is an inclined hole collared approximately 150 meters north of existing drilling at Romero and demonstrates that the mineralization remains open to the north-west.

In addition, hole LTP-136 tested the southernmost portion of the initial Romero anomaly and holes LTP-133 and LTP-135 were drilled into IP anomalies North of Escandalosa and South of Romero. The drilling reported herein can be viewed on online in a plan map.

LTP 135 is located 800 metres south of the centre of the Romero mineralization and 700 metres north of Escandalosa. It is the first deep hole in this part of Las Tres Palmas "IP" chargeability geophysical trend. It was terminated in strong mineralization by poor drilling conditions within a fault breccia at a depth of 445 metres, where the lowest 6.8 metres of the hole returned 4.62 g/t gold, including the final 2.1 metre assay interval grading 10.6 g/t gold.

"The Romero mineralized footprint continues to expand, and our understanding of the system is increasing with the ongoing drill program," commented Julio Espaillat, GoldQuest's Chief Executive Officer. "Further drilling at Las Tres Palmas trend's two known gold centres at Romero and Escandalosa is being planned in consultation with the independent engineers, Micon International. We are particularly enthused about commencement of a drilling program at Guama, a previously undrilled area with significant copper surface mineralization."

The results from the new holes are summarized in the table below:

*Note: All the results and sub intervals summarized in the table above have a bottom cut-off of 0.15 g/t of gold. An arbitrary top cut of 50 g/t gold was used until sufficient data is available to define an appropriate top cut for the project. The intervals may not represent true mineralization widths and the exact orientation of the mineralization at this stage of the drilling is not yet known, although the host volcanic lithologies are sub-horizontal in orientation.

The individual two metre assay intervals from all holes drilled on the Las Tres Palmas trend are available online (see Las Tres Palmas Assays), in addition the collar location, hole azimuth and dips for Las Tres Palmas holes are also available (see UTMS Table).

Drill rigs are now being mobilized to the Company's new Induced Polarization ("IP") geophysical discovery at Guama to test mineralization approximately three kilometers west of the Romero Discovery. The Guama IP trend is over three kilometres in length and up to two kilometres in width, and remains open to the north and south (see exploration map). The trend includes three high chargeability occurrences within a broad chargeability high. The central zone was previously reported on March 27^th, 2013 and will be drilled first with a minimum of 6 holes. The northern target is open to the north, is coincident with float samples up to 34% native copper, and seems to display a circular form, with a less chargeable, higher magnetic central area, surrounded by a higher chargeability ring anomaly.

The Company will continue to release new drill hole results in batches as their analysis is completed. The potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

As part of the Company's Quality Assurance and Quality Control procedures (QA/QC), most of the high grade intervals are re-assayed and the Company is awaiting these check samples. In addition, systematic re-assaying of intervals is in progress, to confirm compliance of blanks and duplicates checks. The Company also reviews results from Certified Standard Reference materials (CRSM or Standards), which are inserted at a rate of 5 per 100 samples. Within the results disclosed herein there were no samples that had results outside the recommended tolerance. The company did observe large variations of the gold and copper grades in two core duplicate samples taken from drill hole LTP-137. The duplicates were taken in an area of high gold and copper mineralization and higher variation is expected in higher grades. In both cases the original samples which were used for this release had lower gold grades. As a check the company will re-assay the coarse rejects and pulps.

In GoldQuest's drill programs, composite intervals were chosen using a combination of geological criteria and mineralization, averaging around 2 metres core length. The drill core is cut in half with one half of the core sample shipped to ACME Labs by GoldQuest technicians. The remaining half of the core is kept at the company core shack for future assay verification, or any other further investigation. Assays within intervals below the 0.005 g/t detection limit for Au were given a zero value. All drill samples were prepared and screened by ACME Labs (Santo Domingo); metallic fire assay and multi-element ICP-MS were assayed by ACME Analytical Laboratories (Chile). Gold values are determined by standard fire assay with an AA finish, or, if over 10.0 g/t Au, were re-assayed and completed with a gravimetric finish. QA/QC included the insertion and continual monitoring of numerous standards, blanks and duplicates into the sample stream, at random intervals within each batch. The comprehensive GoldQuest Quality Assurance and Quality Control protocols can be viewed on GoldQuest's Website (see Corporate Governance).

The information in this press release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., the Director, Technical Services of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards.

About GoldQuest

GoldQuest is a Canadian based mineral exploration company with projects in the Dominican Republic traded on the TSX-V under the symbol GQC.V and in Frankfurt/Berlin with symbol M1W, with 143,980,044 shares outstanding (157,481,568 on a fully diluted basis).

Forward-looking statements:

This news release contains certain statements that may be deemed "forward-looking statements", including statements regarding the Company's expectations and plans for its mineral projects, including its drilling programs and the IP program. All statements in this release, other than statements of historical fact, that address events or developments that GoldQuest expects to occur, are forward-looking statements.

Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although GoldQuest believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include exploitation and exploration success, differing results from re-assays or other analytical procedures with respect to the drill results, continued availability of capital, financing and required resources (such as human resources, equipment and/or other capital resources) and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of GoldQuest's management on the date the statements are made. GoldQuest undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 12, 2013) - GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) ("GoldQuest" or the "Company") announces assay results from eight drill holes on the Company's 100% owned Las Tres Palmas trend in the Dominican Republic. The holes tested the northern and eastern boundaries of the Romero gold/copper discovery zone and around the Escandalosa NI 43-101 compliant mineral resource.

In addition, new Induced Polarization ("IP") geophysics has extended the recently announced Guama IP trend to over three kilometres in length and up to two kilometres in width, and remains open to the north and south (see exploration map) The trend includes three high chargeability occurrences within a broad chargeability high, with the central zone previously reported on March 27^th, 2013. The northern target is open to the north, and is considered a broad circular anomaly with a more chargeable outer portion, coincident with float samples up to 34% native copper, and a less chargeable central area. Based on this IP signature, preliminary interpretation suggests an intrusive centre. The southern target is only partially covered by the IP survey at this time, and is open to the south and west, associated with silicified chip samples returning up to 17% copper. IP surveys will be extended over the next few weeks to cover extensions of the Guama trend.

"This round of drilling and the drop off in copper and gold grades is consistent with the lower chargeability on the periphery of the Romero anomaly," commented Julio Espaillat, GoldQuest's Chief Executive Officer. "Las Tres Palmas trend appears to now have at least two separate gold centres, where enhanced mineralization within a proposed feeder zone, as seen in LTP 94, (235 metres grading 7.9 g/t gold and 1.4% copper; see release of August 27^th, 2012) has been identified at the first, Romero, but no feeder zone has been located to date at the second centre, Escandalosa. The 3 km long IP Guama trend, 2 kms west of Romero, is coincident with numerous high-grade copper outcrops and appears to be longer and wider than the mineralized Las Tres Palmas trend. The Guama trend will be drilled as soon as mapping, sampling and geophysical data has been fully compiled, and IP cross sections have been completed."

The results from the new holes are summarized in the table below:

The drilling reported herein can be viewed on online in two drilling maps. Of the eight holes released today, LTP-125, LTP- 128 and LTP 130 tested the deep IP targets around Escandalosa, seeking a potential sulphide rich root to Escandalosa, where a 43-101 compliant inferred resource of 3.1 million tonnes grading 3.14 g/t gold has been found by GoldQuest (see release of August 20^th, 2012). The drilling did not encounter high grade mineralization consistent with a feeder zone, and further drilling is being considered to understand the Escandalosa system. In addition to the Escandalosa holes, LTP-126 was an infill hole drilled between Romero north and Romero south. and LTP 129 an inclined hole and LTP 131 a vertical hole, were collared 160 metres south of LTP-126 and tested the eastern flank of Romero. Hole LTP 134 tested the eastern end of the Romero south IP anomaly, that appears to be enriched in pyrite, the source of the IP anomaly, but weakly mineralized in gold and copper.

Drilling is ongoing, with samples from holes LTP-132 and LTP 33 delivered to Acme laboratories for assay. LTP-135 and LTP-136 have been completed and are being logged and sampled. LTP-137 is in progress south of Romero, and further drilling is being planned to better define Romero. Two drill rigs are being readied to drill the Guama trend and other anomalies on the property including targets along the Las Tres Palmas trend.

The individual two metre assay intervals from all holes on drilled on the Las Tres Palmas trend are available online (see Las Tres Palmas Assays), in addition the collar location, hole azimuth and dips for Las Tres Palmas holes are also available (see UTMS Table).

The Company will continue to release new drill hole results in batches as their analysis is completed. ACME labs have been instructed to release assays to the company only once the batches have been completed. The potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

As part of the Company's Quality Assurance and Quality Control procedures (QA/QC), most of the high grade intervals are re-assayed and the Company is awaiting these check samples. In addition, systematic re-assaying of intervals is in progress, to confirm compliance of blanks and duplicates checks. The Company also reviews results from Certified Standard Reference materials (CRSM or Standards), which are inserted at a rate of 5 per 100 samples. Within the results disclosed herein there were 2 samples, which had results outside the recommended tolerances for copper. The samples in this batch are not from a mineralized interval and the Company has not requested re-assay of the batches.

In GoldQuest's drill programs, composite intervals were chosen using a combination of geological criteria and mineralization, averaging around 2 metres core length. The drill core is cut in half with one half of the core sample shipped to ACME Labs by GoldQuest technicians. The remaining half of the core is kept at the company core shack for future assay verification, or any other further investigation. Assays within intervals below the 0.005 g/t detection limit for Au were given a zero value. All drill samples were prepared and screened by ACME Labs (Santo Domingo); metallic fire assay and multi-element ICP-MS were assayed by ACME Analytical Laboratories (Chile). Gold values are determined by standard fire assay with an AA finish, or, if over 10.0 g/t Au, were re-assayed and completed with a gravimetric finish. QA/QC included the insertion and continual monitoring of numerous standards, blanks and duplicates into the sample stream, at random intervals within each batch. The comprehensive GoldQuest Quality Assurance and Quality Control protocols can be viewed on GoldQuest's Website (see Corporate Governance).

The information in this press release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., the Director, Technical Services of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards.

About GoldQuest

GoldQuest is a Canadian based mineral exploration company with projects in the Dominican Republic traded on the TSX-V under the symbol GQC.V and in Frankfurt/Berlin with symbol M1W, with 143,980,044 shares outstanding (157,481,568 on a fully diluted basis).

Forward-looking statements:

This news release contains certain statements that may be deemed "forward-looking statements", including statements regarding the Company's expectations and plans for its mineral projects, including its drilling programs and the IP program. All statements in this release, other than statements of historical fact, that address events or developments that GoldQuest expects to occur, are forward- looking statements.

Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although GoldQuest believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include exploitation and exploration success, differing results from re-assays or other analytical procedures with respect to the drill results, continued availability of capital, financing and required resources (such as human resources, equipment and/or other capital resources) and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of GoldQuest's management on the date the statements are made. GoldQuest undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 27, 2013) - GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) ("GoldQuest" or the "Company") is pleased to announce they have discovered a new geophysical trend which lies approximately two kilometres west of the Romero mineralization on the Las Tres Palmas trend, (see http://goldquestcorp.com/images/pdf/2013_03_26_GQC_Exploration_Map.pdf). The newly discovered Guama trend is sub-parallel to the Las Tres Palmas trend, and is coincident with a series of high grade copper grab samples collected by the Company in previous campaigns. Copper results in this area include 59 of 212 samples returning grades over 1% of which the highest grade sample was 34.5% copper and was collected from north of the Guama Induced Polarization ("IP") anomaly (see press release March 6, 2006). Within these 59 samples 5 were over 10% copper and 13 samples returning grades between 5% and 10%.

In addition, detailed mapping done in late 2012 identified chlorite alteration at surface overlying the Guama trend. Chlorite alteration is often associated with hydrothermal systems. At GoldQuest's Romero hydrothermal gold/copper discovery, chlorite does not reach surface, but has been reported in every drill hole, often surrounding copper and gold mineralization.

"Guama is the first area GoldQuest has tested outside the 2011 geophysical survey," commented Julio Espaillat, GoldQuest's President & CEO. "It is gratifying to have discovered a new trend based on geophysics, detailed mapping and geochemistry, as we unfold our geological drilling program to compliment drilling in the core Romero area."

The trend is clearly defined by chargeability and resistivity anomalies trending NNW-SSE, and is over 1 kilometre in length, open to the north and south. Chargeability was measured within an Insight Induced Polarization program, which is covering the Las Tres Palmas trend and other areas in the district. High chargeability to date in the area strongly correlates with sulphide mineralization, as seen at the Romero mineralization, where the Company encountered copper and gold mineralization up to 234 metres grading 7.9 g/t gold and 1.4% copper (see release of August 27, 2012).

Exploration Update at Jengibre:

The Company has also commenced the first ground geophysical program over its Jengibre anomaly, that lies approximately 35 kilometers south-east of the Las Tres Palmas trend, within the company's contiguous land position. Jengibre was discovered by GoldQuest, and was first drilled in 2008. Seven drill holes were drilled, of which the best hole returned 22 meters grading 2.0 g/t gold (see press release August 5, 2009). The mineralization was encountered within the same Tireo Formation volcanics as Romero and Escandalosa at Las Tres Palmas. Drilling of Jengibre is expected to commence within Q2 2013, if justified by the geophysical and geological preparation work.

The Company is currently operating three drill rigs with two rigs at Romero and a third rig allocated to test geological targets along the Las Tres Palmas and Guama trends. A fourth rig has cleared customs and will drill geological targets including Jengibre.

Some of the current drill program that began January 2013 will consist of geological drilling. In this case assays will be reviewed by the company on a hole-by-hole basis to assist siting of new drill holes, and will be released in batches. The assay laboratories typically hold step-out assay results until a batch is ready for release.

About GoldQuest

The information in this press release has been reviewed and approved by Mr. Jeremy Niemi, P. Geo., the Director, Technical Services of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards. Preparation and geochemical analyses of all surface samples were carried out by ALS Chemex, Vancouver. Rock standards and blanks were routinely inserted into all sample batches for quality assurance and control.

GoldQuest is a Canadian-based mineral exploration company with projects in the Dominican Republic traded on the TSX-V under the symbol GQC.V and in Frankfurt/Berlin with symbol M1W, with 143,980,044 shares outstanding (157,481,568 on a fully diluted basis).

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 11, 2013) - GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) ("GoldQuest" or the "Company") announces that the board of directors has authorized the grant of an aggregate of 2,625,000 incentive stock options (the "Options") to directors, officers and employees of GoldQuest and a consultant performing investor relations activities, at an exercise price of $0.50 per share.

The Options are exercisable for a five-year period from the date of grant and will vest as follows: 1/3rd on the 6 month anniversary from the date of the grant; 1/3 on the first anniversary from the date of the grant and the final 1/3rd on 18 month anniversary from the date of the grant.

The Options issued to an investor relations consultant are exercisable for a five-year period from the date of grant and will vest as follows: 1/4th on the three month anniversary from the date of the grant; 1/4th on the six month anniversary from the date of the grant; 1/4th on the nine month anniversary from the date of the grant; and the remainder on the one year anniversary from the date of the grant.

The Options are granted pursuant to the Company's stock option plan which was approved by shareholders at the Company's annual general meeting of shareholders held on June 29, 2012. The Company's stock option plan and the grant of the Options is subject to the approval of the TSX Venture Exchange.

On behalf of the Board of Directors,

Bill Fisher, Chairman

About GoldQuest

GoldQuest is a Canadian based mineral exploration company with projects in the Dominican Republic traded on the TSX-V under the symbol GQC.V and in Frankfurt/Berlin with symbol M1W, with 143,980,044 shares outstanding (154,856,571 on a fully diluted basis).

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2013) - GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) ("GoldQuest" or the "Company") is pleased to announce assay results from three additional holes in the Romero gold/copper discovery zone on the Company's 100% owned Las Tres Palmas trend in the Dominican Republic.

Drilling highlights include:

• LTP-123 contained 68 metres grading 1.76 g/t gold and 0.29% copper (2.23 g/t gold equivalent*) within a mineralized zone of 138 metres grading 1.00 g/t gold and 0.20% copper (1.33 g/t gold equivalent)
• LTP-124 contained 48 metres grading 1.21 g/t gold and 1.02% copper (2.88 g/t gold equivalent)

These are the last results from the phase of drilling targeting the shallow Induced Polarization ("IP") interpretation that discovered the Romero Mineralization. Future drilling will be guided by new, ongoing deep geophysical data. New data collected this year has identified two distinct east-west trending target zones at Romero. Drilling to date has focused on the Romero North zone where highlights include LTP-94 which returned 235 metres grading 7.9 g/t gold and 1.4% copper (10.2 g/t gold equivalent). Romero South, a newly identified trend, is essentially untested and returned a stronger and shallower chargeability anomaly than Romero North.

"We are pleased by the continued positive drilling results and the confirmation of our targeting approach," commented Julio Espaillat, GoldQuest's Chief Executive Officer. "Our geological modeling will assist us in seeking additional mineralization both at Romero and along the entire Las Tres Palmas trend."

The results from the new holes are summarized in the table below:

*Note: All the results and sub intervals summarized in the table above have a bottom cut-off of 0.15 g/t of gold. A top cut of 50 g/t gold is used, however no samples in this release exceeded 50 g/t. The intervals may not represent true mineralization widths and the exact orientation of the mineralization at this stage of the drilling is not yet known, although the host volcanic lithologies are sub-horizontal in orientation. Gold equivalent values calculated using a 3-year trailing average price of $1616 US/ounce for gold and $3.85 US/pound of copper as of January 15, 2013. No adjustment has been made for metallurgical recovery, as these remain uncertain at this time. Gold Equivalent formula: AuEq g/t= [(Cu% x 22.0462 x 3.85)/(1616/31.1035)].

Of the three holes released today, LTP-122 tested the area between the Romero North and South trends. The mineralization extends in a southeast direction where previous shallow holes left this area unknown. LTP-123 was an infill hole in Romero North and LTP-124 was drilled at the eastern end of Romero North (see plan map with Romero Drill locations at: http://goldquestcorp.com/images/romero-new3_feb2013.jpg (note: IP line 100E will be surveyed once drills have been deployed elsewhere, as IP survey results would not be accurate with active drilling in the vicinity)).

Currently, LTP-125 is in the lab and was drilled at the Escandalosa North Zone. LTP-126 is also in the lab and was drilled at the eastern end of Romero North. LTP-127 has been collared at Romero North's northern flank which currently remains open, and is currently drilling. LTP-128 is currently drilling an IP target at Escandalosa North and LTP-129 is drilling between Romero North and newly discovered Romero South (see plan map located at: http://goldquestcorp.com/images/PlanMapEscandalosa4_feb2013.jpg).

The individual two metre assay intervals from all holes on drilled on the Las Tres Palmas trend are available at: http://goldquestcorp.com/images/pdf/Assay_Au_Cu_Zn_S_feb_2013.pdf, in addition the collar locations and hole azimuth and dips for all Las Tres Palmas holes can be reviewed at: http://goldquestcorp.com/images/pdf/LTP_HOLES_FEB20_2013.pdf.

The Company will continue to release new drill hole results in batches as their analysis is completed. ACME labs have been instructed to release assays to the company only once the batches have been completed. The potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

As part of the Company's Quality Assurance and Quality Control procedures (QA/QC), most of the high grade intervals are re-assayed and the Company is awaiting these check samples. In addition, systematic re-assaying of intervals is in progress, to confirm compliance of blanks and duplicates checks. The Company also reviews results from Certified Standard Reference materials (CRSM or Standards), which are inserted at a rate of 5 per 100 samples. Within the results disclosed herein there were 3 samples, which had results below the recommended tolerances. The samples in this batch are being re-assayed and the Company is awaiting the results from these samples. Any future resource calculations will be calculated from compliant intervals, and if there is any material variation from the reported intervals on a hole by hole basis, then the Company will report this in subsequent releases, but it is of the opinion of the Company that any variations are unlikely to be material.

In GoldQuest's drill programs, composite intervals were chosen using a combination of geological criteria and mineralization, averaging around 2 metres core length. The drill core is cut in half with one half of the core sample shipped to ACME Labs by GoldQuest technicians. The remaining half of the core is kept at the company core shack for future assay verification, or any other further investigation. Assays within intervals below the 0.005 g/t detection limit for Au were given a zero value. All drill samples were prepared and screened by ACME Labs (Santo Domingo); metallic fire assay and multi-element ICP-MS were assayed by ACME Analytical Laboratories (Chile). Gold values are determined by standard fire assay with an AA finish, or, if over 10.0 g/t Au, were re-assayed and completed with a gravimetric finish. QA/QC included the insertion and continual monitoring of numerous standards, blanks and duplicates into the sample stream, at random intervals within each batch. The comprehensive GoldQuest Quality Assurance and Quality Control protocols can be viewed on GoldQuest's Website at: http://goldquestcorp.com/index.php/corporate/corporate-governance.

The information in this press release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., the Director, Technical Services of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards.

About GoldQuest

GoldQuest is a Canadian based mineral exploration company with projects in the Dominican Republic traded on the TSX-V under the symbol GQC.V and in Frankfurt/Berlin with symbol M1W, with 143,980,044 shares outstanding (154,856,571 on a fully diluted basis).

Forward-looking statements:

This news release contains certain statements that may be deemed "forward-looking statements", including statements regarding the Company's expectations and plans for its mineral projects, including its drilling programs and the IP program. All statements in this release, other than statements of historical fact, that address events or developments that GoldQuest expects to occur, are forward- looking statements.

Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although GoldQuest believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include exploitation and exploration success, differing results from re-assays or other analytical procedures with respect to the drill results, continued availability of capital, financing and required resources (such as human resources, equipment and/or other capital resources) and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of GoldQuest's management on the date the statements are made. GoldQuest undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.

New drilling will continue to expand Romero and test high priority targets along the trend. In addition, an ongoing deep Induced Polarization ("IP") survey is being used to expand coverage of the Las Tres Palmas trend and gain knowledge of additional targets within the Company's 50 km long Tireo Formation land package.

"Since the Romero discovery, the Company has focused drilling within the Romero area while thoroughly interpreting recent and historical data to develop new targets," commented Julio Espaillat, the Company's CEO. "With newly completed lines from the IP survey, the Company is able to compare multiple new IP targets with those previously drilled at Romero. High priority targets extend across a distance of over four kilometres, including the highest chargeability anomaly to date which did not show up in the shallower exploration techniques."

The IP program is valuable to the development of drill targets considering that Romero is a "blind" discovery, meaning it does not reach the surface. To date, all chargeability anomalies have coincided with sulfide mineralization, although the technique does not readily differentiate between the iron rich pyrite mineralization and the copper rich chalcopyrite mineralization seen at Las Tres Palmas. Previous drilling located near the new, deep IP lines suggests that the strongest gold and copper mineralization is found in zones surrounding the strongest IP anomalies, in sections up to several hundred metres in length.

While drilling continues to delineate the Romero mineralization, particularly in the Southeast quadrant of the original IP anomaly, new targets are being aggressively pursued. These targets are considered prospective in light of geological and geophysical precedent at Romero, all displaying strong chargeability and substantial size. See sections showing new IP drill targets at: http://goldquestcorp.com/images/nr/New_L400W_&_L200W.jpg. For additional IP cross sections please see the Company's press release dated Jan. 17, 2013.

Drilling has also started at Escandalosa North in an area considered to hold gold potential as a northern extension of the NI 43-101 compliant Escandalosa Sur inferred resource of 3.1 Mt @ 3.14 g/t gold grade for a total of 316,000 ounces. Highlights of the previous resource drilling include 53 m grading 3.0 g/t gold and 26 m grading 11.4 g/t gold. New holes are targeting chargeable anomalies from the IP survey.

Current IP survey work also shows positive developments in the Romero East area with a strong chargeable zone emerging and still open to the east. The Company is currently cutting lines to expand the survey and establish the extent of the anomaly. East of Romero, the strongest IP chargeability anomaly to date, up to 18.0 mV/V (up to 9.0 mV/V was seen at the Romero discovery zone) was identified in late January 2013 (see: http://goldquestcorp.com/images/nr/New_L100E.jpg). The anomaly suggests chargeable sulfides and will be drill tested in the coming weeks.

West of Romero, towards the Los Comios concession, historical reconnaissance sampling has identified significant grades of copper. While sampling covered a variety of rock types, the presence of copper may be related to underlying Romero style mineralization (see map of copper results and locations at: http://goldquestcorp.com/images/nr/feb8_2013_map11.jpg). In the Company's complete San Juan concession portfolio, rock samples were taken and were sampled amongst other elements for copper. Copper results included 9 samples returning grades over 10% (the highest being 34.5% copper), 25 samples returning grades between 5% and 10%, 49 returning grades between 2% and 5% and 34 samples returning grades between 1% and 2%. The Company's exploration model shows a relationship between copper and gold mineralization that encourages the Company to follow anomalies relating to both metals. The Company also uses conductivity readings, ground magnetics, mapping and geological interpretation to generate drill targets.

Three rigs are currently drilling at the project, of which two are covering the Romero discovery zone and one has commenced at the Escandalosa North target. A fourth deep drill rig, capable to approx. 700 m is in Dominican Republic customs at the port of Haina and is expected to be deployed shortly. See detailed map of drill hole locations at: http://goldquestcorp.com/images/nr/feb8_2013_New_Plan_Map_Romero.jpg

A report has also been received from consultant Dr. Richard Sillitoe following his visit to the GoldQuest properties in January. This report adds valuable insight into the predictability of the Romero style mineralization: http://goldquestcorp.com/images/nr/RichardSillitoeReport-Jan2013.pdf

All rock samples were prepared and screened by ACME Labs (Santo Domingo); metallic fire assay and multi-element ICP-MS were assayed by ACME Analytical Laboratories (Chile). Gold values are determined by standard fire assay with an AA finish, or, if over 10.0 g/t Au, were re-assayed and completed with a gravimetric finish. QA/QC included the insertion and continual monitoring of numerous standards, blanks and duplicates into the sample stream, at random intervals within each batch. The comprehensive GoldQuest Quality Assurance and Quality Control protocols can be viewed on GoldQuest's website at: http://goldquestcorp.com/index.php/corporate/corporate-governance

The information in this press release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., the Director, Technical Services of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards.

About GoldQuest

GoldQuest is a Canadian based mineral exploration company with projects in the Dominican Republic traded on the TSX-V under the symbol GQC.V and in Frankfurt/Berlin with symbol M1W, with 143,255,044 shares outstanding (154,856,571 on a fully diluted basis).

Forward-looking statements:
This news release contains certain statements that may be deemed "forward-looking statements", including statements regarding the Company's expectations and plans for its mineral projects, including its drilling programs and the IP program. All statements in this release, other than statements of historical fact, that address events or developments that GoldQuest expects to occur, are forward-looking statements.
   
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

GoldQuest Mining Corp.
Julio Espaillat
President & Chief Executive Officer - Dominican Republic
+1-829-919-8701
jespaillat@goldquestcorp.com

GoldQuest Mining Corp.
Sebastian de Kloet
Corporate Communications - Toronto
+1-416-214-9151
sdekloet@goldquestcorp.com
www.goldquestcorp.com

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 17, 2013) - GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) ("GoldQuest" or the "Company") is pleased to announce an exploration update including assay results from nine additional holes from its ongoing drill program at the Romero gold/copper discovery on the Company's 100% owned Las Tres Palmas trend in the Dominican Republic.

Drilling highlights include:

• LTP-116 which contained 85.0 metres grading 0.79 g/t gold and 0.89% copper (2.24 g/t gold equivalent)
• LTP-118 which contained 48.78 metres grading 2.06 g/t gold and 0.71% copper (3.32 g/t gold equivalent) within a mineralized envelope of 217.5 metres grading 0.74 g/t gold and 0.4% copper (1.39 g/t gold equivalent)
• LTP-120 which contained 57.0 metres grading 2.16 g/t gold and 0.85% copper (3.35 g/t gold equivalent) within a mineralized envelope of 237.0 metres grading 0.67 g/t gold and 0.43% copper (1.37 g/t gold equivalent)

"We continue to test a large geophysical anomaly which has been the best method for us to date and will continue to do so moving forward," commented Julio Espaillat, GoldQuest's Chief Executive Officer. "Recent drilling continues to validate our interpretation of a North-west to South-east mineralized corridor and we are encouraged that our ongoing deep Induced Polarization survey will generate sufficient targets for our 2013 drill program."

The results from the new holes are summarized in the table below:

* Note: All the results and sub intervals summarized in the table above have a bottom cut-off of 0.15 g/t of gold. A top cut of 50 g/t gold is used, however no samples in this release exceeded 50 g/t. The intervals may not represent true mineralization widths and the exact orientation of the mineralization at this stage of the drilling is not yet known, although the host volcanic lithologies are sub-horizontal in orientation. Gold equivalent values calculated using a 3-year trailing average price of $1616 US/ounce for gold and $3.85 US/pound of copper as of January 15, 2013. No adjustment has been made for metallurgical recovery as these remain uncertain at this time. Gold Equivalent formula: AuEq g/t= [(Cu% x 22.0462 x 3.85)/(1616/31.1035)].

The individual assay intervals from holes LTP-113 through LTP-121 can be reviewed on GoldQuest's website at the following link: http://goldquestcorp.com/images/nr/LTP113-121Assays.xlsx. The collar locations and hole azimuth and dips can be reviewed at http://goldquestcorp.com/images/nr/UTMS.xlsx.

The Company has released 31 holes to date from the Romero discovery and remains active with 3 drills continuing to systematically test the entire Induced Polarization (IP) anomaly and to define the extents of the mineralization (see plan map http://goldquestcorp.com/images/nr/Romero-Plan_Map_with_Collars-January_2013.jpg for drill site locations). The mineralization remains open along strike to the north and south-east and current drilling is targeting the favorable mineral corridor.

Geological Model

The geological interpretation of the mineralization found along the Las Tres Palmas trend is an intermediate epithermal sulphidation system, which preferentially occurs in the flat lying dacite unit. Generally the lower contact of the dacite unit is more strongly mineralized and the highest gold and copper values occur towards the centre of the mineralized body, with a gold+zinc zone marking the outer periphery.

Dr. Richard H. Sillitoe, one of the world's leading experts in epithermal and porphyry deposits, recently visited the Company's Las Tres Palmas project and noted, "Much of the previously defined mineralization in the Hondo Valle and Escandalosa sectors, south along the mineralized trend from Romero, displays this distal gold-zinc association, suggesting that additional, proximal, copper-rich centres may exist."

The Company continues to expand the coverage of ground IP geophysics which has been successful at identifying sulphide mineralization and which lead to the discovery of Romero. The deep looking survey currently underway aims to locate new targets which may represent copper-gold-rich Romero-style zones.

The Company will continue to release new drill hole results in batches as their analysis is completed. ACME labs have been instructed to release assays to the Company only once the batches have been completed.

The potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

As part of the Company's Quality Assurance and Quality Control procedures (QA/QC), most of the high grade intervals are re-assayed and the Company is awaiting these check samples. In addition, systematic re-assaying of intervals is in progress, to confirm compliance of blanks and duplicates checks. The Company also reviews results from Certified Standard Reference materials (CRSM or Standards) which are inserted at a rate of 5 per 100 samples. Within the results disclosed herein there was 1 sample which had results below and 1 sample above the recommended tolerances. The samples in this batch are being re-assayed and the Company is awaiting the results from these samples. Any future resource calculations will be calculated from compliant intervals, and if there is any material variation from the reported intervals on a hole by hole basis, then the Company will report this in subsequent releases, but it is of the opinion of the Company that any variations are unlikely to be material.

In GoldQuest´s drill programs, composite intervals were chosen using a combination of geological criteria and mineralization, averaging around 2 metres core length. The drill core is cut in half with one half of the core sample shipped to ACME Labs by GoldQuest technicians. The remaining half of the core is kept at the company core shack for future assay verification, or any other further investigation. Assays within intervals below the 0.005 g/t detection limit for Au were given a zero value. All drill samples were prepared and screened by ACME Labs (Santo Domingo); metallic fire assay and multi-element ICP-MS were assayed by ACME Analytical Laboratories (Chile). Gold values are determined by standard fire assay with an AA finish, or, if over 10.0 g/t Au, were re-assayed and completed with a gravimetric finish. QA/QC included the insertion and continual monitoring of numerous standards, blanks and duplicates into the sample stream, at random intervals within each batch. The comprehensive GoldQuest Quality Assurance and Quality Control protocols can be viewed on GoldQuest's website at: http://www.goldquestcorp.com/index.php/corporate/corporate-governance.

The information in this press release has been reviewed and approved by Mr. Jeremy Niemi, P. Geo., the Director, Technical Services of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards.

About GoldQuest

GoldQuest is a Canadian-based mineral exploration company with projects in the Dominican Republic traded on the TSX-V under the symbol GQC.V and in Frankfurt/Berlin with symbol M1W, with 143,255,044 shares outstanding (154,856,568 on a fully diluted basis).

Forward-looking statements:

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that GoldQuest expects to occur, are forward-looking statements.

Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although GoldQuest believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include exploitation and exploration success, differing results from re-assays or other analytical procedures with respect to the drill results, continued availability of capital, financing and required resources (such as human resources, equipment and/or other capital resources) and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of GoldQuest's management on the date the statements are made. GoldQuest undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 20, 2012) - GoldQuest (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) is pleased to present the initial data from an extensive IP survey and a summary of the 2012 drilling at Las Tres Palmas project, in the Dominican Republic, which includes the Romero and Escandalosa discoveries. The company has ordered a fourth drill rig, capable of reaching 700 metres, which will be mobilized in January 2013 to drill new targets. Assays from the remaining 9 holes drilled at Romero in late 2012 will be released in January 2013.

The Company is currently undertaking an IP survey covering the complete Las Tres Palmas trend and outlying areas in the Company's extensive land position, including Los Comios, Romero West, and Jengibre. This survey, conducted by Insight Geophysics, will investigate to a depth of approximately 500 metres, which is almost twice the depth of the 2011 IP survey that identified the Romero mineralization. Initial results of the current survey at Romero and north of La Escandalosa have identified deeper chargeability anomalies, where higher readings appear to correlate with sulphide mineralization (http://goldquestcorp.com/images/romero_map_new_insight_ip_lines.jpg).

"The 2011 IP program which led to the Romero discovery identified the overall trend, and the new, deeper penetrating IP shows strong correlation with the high grade copper/gold intersections and provides further guidance about the geometry of the targets," commented Julio Espaillat, GoldQuest's President and CEO. "Drilling in the new year will continue at Romero, which remains open at depth and along strike, and will test new targets around the Las Tres Palmas Trend."

The IP survey at Romero, which is located in the most northerly lobe to date of the Las Tres Palmas trend, displays enhanced detail of resistivity and chargeability anomalies, allowing the Company to refine their planned drilling targets, and to gain a greater understanding of the mineralization style and attitude of controls on emplacement of gold, copper and other metals (see http://goldquestcorp.com/images/romero_200w.jpg). The East-West mineralized trend in the northern part of the Romero chargeability anomaly, identified in 2012 by drilling, is visible in this survey, and appears to shows a strong vertical element, strengthening at depth. The Company intends to undertake further drilling in January to test the high chargeability occurrences with three diamond drill rigs, closely followed by testing further refined IP targets as they are generated.

Several IP survey lines have been completed directly north of La Escandalosa outcropping gold occurrence, 2 kilometres south of the Romero discovery, where the company reported a NI 43-101 compliant inferred resource of 3.1 million tonnes grading 3.14 g/t gold (see release of Aug 20^th, 2012). The first IP survey lines show a strong chargeability anomaly and La Escandalosa mineralized horizon dips towards this untested anomaly which is open at depth and to the north (see http://goldquestcorp.com/images/escandalosa_IS100N-IP-UTM.jpg). Drilling will commence here with a deep rig, slated to arrive in the Dominican Republic in late January.

Drilling summary for 2012

The three rigs at Las Tres Palmas have halted for the Christmas break and will resume in early January 2013. Since the announcement of the discovery at Romero on 23^rd May 2012, by LTP 90 (231 metres grading 2.4 g/t gold and 0.4 % copper), thirty-two holes have been completed within the Romero area, which represents approximately 20% of the Las Tres Palmas trend. Assays from twenty-three holes have already been reported (see prior press releases of GoldQuest) and assays from the remaining nine holes of the 2012 program will be reported in early January 2013 (see 2012 drill summary at http://www.goldquestcorp.com/pdf/LTP_Reported_Assay_Results.pdf, plan map http://www.goldquestcorp.com/images/mapwithholes.jpg, and the Companies up to date Romero UTMS table at http://goldquestcorp.com/images/Phase_VII.xlsx).

The information in this press release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., the Director, Technical Services of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards.

About GoldQuest

GoldQuest is a Canadian based mineral exploration company with projects in the Dominican Republic traded on the TSX-V under the symbol GQC.V and in Frankfurt/Berlin with symbol M1W, with 143,980,044 shares outstanding (154,856,568 on a fully diluted basis).

Forward-looking statements:

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that GoldQuest expects to occur, are forward-looking statements.

Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Such forward-looking statements include the ability of the company to proceed with the expected IP survey and drill programs. Although GoldQuest believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include exploitation and exploration success, differing results from re-assays or other analytical procedures with respect to the drill results, continued availability of capital, financing and required resources (such as human resources, equipment and/or other capital resources) and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of GoldQuest's management on the date the statements are made. GoldQuest undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.

Exploration Highlights include:

• LTP-111 which contained 52.0 metres grading 1.31 g/t gold and 1.24% copper within a mineralized envelope of 80.0 metres grading 0.93 g/t gold and 0.85% copper
• Phase 2 deep-looking IP survey to commence
  • investigating Las Tres Palmas trend, specifically west of Romero and north of La Escandalosa
  • planned to penetrate to a depth of 500 metres

“The Romero mineralized zone now extends over 400 metres from the north west to the south east, representing less than 25% of the IP anomaly between Romero and Escandalosa, and remains open in both directions”, commented Julio Espaillat, GoldQuest’s Chief Executive Officer, "Sulphide mineralization has been identified in every hole, and a higher grade gold/copper corridor appears to be present within the overall IP anomaly, which is interpreted to represent sulphide mineralization. Our next phase of IP surveys will expand the coverage and confirm if the anomaly and the mineralization system continue to the north-west.”

The Company has engaged Insight Geophysics of Ontario, Canada to commence a second phase of IP surveys at Las Tres Palmas. This survey will utilize deep-looking technology with penetration to depths of up to 500 metres, where previous surveys only penetrated to 280 metres. The survey will extend the IP coverage to the west of Romero with the intention of providing deeper and higher resolution information at Romero and refine the known anomalies south of Romero. Line cutting has been completed and it is anticipated that the survey equipment will move to site later this week with the surveys to begin in December and continue into the first half of 2013.

The results from the five new holes at Romero are summarized in the table below:

*Note: All the results and sub intervals summarized in the table above have a bottom cut-off of 0.15 g/t of gold. An arbitrary top cut of 50 g/t gold was used until sufficient data is available to define an appropriate top cut for the project. The intervals may not represent true mineralization widths and the exact orientation of the mineralization at this stage of the drilling is not yet known, although the host volcanic lithologies are sub-horizontal in orientation.

The potential quantity and grade of the mineralization are currently conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

The individual assay intervals from holes LTP-106, LTP-109, LTP-110, LTP-111 and LTP-112 can be reviewed on GoldQuest’s website at the following link: http://www.goldquestcorp.com/images/cross_section/Assay90to112.pdf the collar locations and hole azimuth and dips can be reviewed at http://goldquestcorp.com/images/cross_section/UTMS-nov.pdf

The company has released 23 holes to date from the Romero discovery and remains active with 3 drills continuing to systematically test the entire Induced Polarization (IP) anomaly and to define the extents of the mineralization (see plan map - interpreted higher grade gold copper corridor http://goldquestcorp.com/images/Nov27DrillMap_with_arrows.jpg for drill site locations. See cross-section A-A’ at http://goldquestcorp.com/images/Nov27Section.jpg.)

The latest drill hole intercepts reported herein, holes LTP-111 and LTP-112, were drilled towards the eastern edge of the chargeability IP anomaly at Romero. Hole LTP-111 is the furthest hole to the east drilled at Romeo and represents a step out of approximately 100 metres from previous drilling. The mineralization at Romero, now extends over 400 metres in the north west – south east direction and remains open in both directions.

Hole LTP-106 was the first deep hole drilled at Romero, was inclined at -70 degrees and drilled towards the north and ended approximately 230 metres below the bottom of hole LTP-93. The final length of the hole was 704.8 metres and it confirmed the mineralization south of the La Guama structure, although mineralization at depth was not considered significant. The hole is the furthest step-out to the south, where large portion of the chargeability anomaly remains untested. Future deep holes will utilize the deep IP survey for targeting and testing the Romero mineralization at depth.

Hole LTP-109 was terminated above the target horizon due to technical issues. The hole was planned to test the potential for additional mineralization in the south-eastern portion of the IP anomaly. Currently hole LTP-117 is being drilled to test the area.

Hole LTP-110 was drilled towards the south and encountered two lower grade mineralized zones at the 98 metre and 186 metre depths down the hole. The hole appears to be drilled to the south and west of the higher grade gold and copper trend the Company has been exploring within the Romero area.

The company will continue to release new drill hole results in batches as their analysis is completed. ACME labs have been instructed to release assays to the company only once the batches have been completed.

As part of the Company's Quality Assurance and Quality Control procedures (QA/QC), most of the high grade intervals are re-assayed and the Company is awaiting these check samples. In addition, systematic re-assaying of intervals is in progress, to confirm compliance of blanks and duplicates checks. The Company also reviews results from Certified Standard Reference materials (CRSM or Standards) which are inserted at a rate of 5 per 100 samples. [Within the results disclosed herein there was 1 sample which had results below the recommended tolerances. The samples in this batch are being re-assayed and the Company is awaiting the results from these samples.] Any future resource calculations will be calculated from compliant intervals, and if there is any material variation from the reported intervals on a hole by hole basis, then the Company will report this in subsequent releases, but it is of the opinion of the Company that any variations are unlikely to be material.

In GoldQuest´s drill programs, composite intervals were chosen using a combination of geological criteria and mineralization, averaging around 2 metres core length. The drill core is cut in half with one half of the core sample shipped to ACME Labs by GoldQuest technicians. The remaining half of the core is kept at the company core shack for future assay verification, or any other further investigation. Assays within intervals below the 0.005 g/t detection limit for Au were given a zero value. All drill samples were prepared and screened by ACME Labs (Santo Domingo); metallic fire assay and multi-element ICP-MS were assayed by ACME Analytical Laboratories (Chile). Gold values are determined by standard fire assay with an AA finish, or, if over 10.0 g/t Au, were re-assayed and completed with a gravimetric finish. QA/QC included the insertion and continual monitoring of numerous standards, blanks and duplicates into the sample stream, at random intervals within each batch. The comprehensive GoldQuest Quality Assurance and Quality Control protocols can be viewed on GoldQuest’s website at:
http://www.goldquestcorp.com/index.php/corporate/corporate-governance

The information in this press release has been reviewed and approved by Mr. Jeremy Niemi, P. Geo., the Director, Technical Services of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards.

About GoldQuest

GoldQuest is a Canadian based mineral exploration company with projects in the Dominican Republic traded on the TSX-V under the symbol GQC.V and in Frankfurt/Berlin with symbol M1W, with 143,255,044 shares outstanding (154,856,568 on a fully diluted basis). For further information, please contact:

Julio Espaillat
President & Chief Executive Officer
+1-829-919-8701
jespaillat@goldquestcorp.com

Sebastian de Kloet
Investor Relations - Toronto
+1-416-214-9151
investorrelations@goldquestcorp.com
www.goldquestcorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking statements:

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that GoldQuest expects to occur, are forward- looking statements.

Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although GoldQuest believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include exploitation and exploration success, differing results from re-assays or other analytical procedures with respect to the drill results, continued availability of capital, financing and required resources (such as human resources, equipment and/or other capital resources) and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of GoldQuest's management on the date the statements are made. GoldQuest undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.