GoldQuest Reports 47.0 m Grading 6.90 g/t Gold and 0.94 % Copper (Gold Equivalent of 8.44 g/t) at Romero from In-Fill Drillin...

GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) ("GoldQuest"
or the "Company") announces assay results from seven drill holes, which include
two in-fill holes at the Company's 100% owned Romero Discovery along the Las
Tres Palmas trend, and five drill holes at the La Guama trend, in the Dominican
Republic. 


The two in-fill holes at Romero are part of an on-going in-fill drill program
planned in consultation with the Company's external Qualified Person (QP), B.T.
Hennessey, P.Geo., of Micon International, to provide for increased confidence
in the continuity of the gold and copper mineralization as well as increased
data density. The two in-fill holes are located 150 metres east of LTP-90, the
original discovery hole at Romero providing approximately 30 metre drill hole
spacing in an area of known mineralization. While drilling continues, these
holes represent the last holes to be incorporated into a maiden Romero resource
estimate, expected to be completed by Micon in the fall. In addition, it is
expected that the La Escandalosa resource will be updated including holes not
previously incorporated into Micon's August 14, 2012 NI 43-101 estimate.


The initial five holes drilled at La Guama were drilled into the peripheral
parts of the trend. The targets of the highest interest at La Guama are located
within the Los Comios concession which is currently under reapplication. The
trend is defined by strong chargeability anomalies coincident with outcropping
copper veins (up to 34% copper). These initial holes failed to intersect
mineralization, and do not explain the target anomalies. Under the Dominican
mining code, drilling cannot commence until the concession has been granted. The
Los Comios concession is expected to be granted shortly, at which point the core
targets will be tested.


Highlights of the in-fill holes at Romero include: 



--  LTP-144a which contained 172.0 metres grading 0.99 g/t gold and 0.33 %
    copper 
    --  Including 38.0 metres grading 1.99 g/t gold and 0.18 % copper 
--  LTP-145 which contained 227.0 metres grading 1.78 g/t gold and 0.44 %
    copper 
    --  Including 47.0 metres grading 6.90 g/t gold and 0.94 % copper 



"The infill drilling completes the drilling to be utilized for the maiden NI
43-101 resource at Romero, which will be published concurrently with the
adjacent La Escandalosa NI 43-101 update," commented GoldQuest CEO, Julio
Espaillat. "The geophysical and coincident geological anomalies at La Guama
remain unexplained, and we look forward to carrying out further exploration as
soon as we can to seek further mineralization."


The results from the two new in-fill holes, and five regional holes at La Guama
are summarized in the table below:




----------------------------------------------------------------------------
                                                             Gold           
                                         Gold               (g/t)       Gold
              From      To  Interval    (g/t)  Copper  50 g/t top Equivalent
 Hole_ID       (m)     (m)       (m)    uncut     (%)     cut-off        (i)
----------------------------------------------------------------------------
LTP-144a     155.0   327.0     172.0     0.99    0.33        0.99       1.53
        --------------------------------------------------------------------
               and                                                          
        --------------------------------------------------------------------
             155.0   193.0      38.0     1.99    0.18        1.99       2.29
----------------------------------------------------------------------------
LTP-145      114.0   341.0     227.0     1.78    0.44        1.78       2.50
        --------------------------------------------------------------------
         including                                                          
        --------------------------------------------------------------------
             131.0   178.0      47.0     6.90    0.94        6.90       8.44
----------------------------------------------------------------------------
LG-01                           No Significant Results                      
----------------------------------------------------------------------------
LG-02                           No Significant Results                      
----------------------------------------------------------------------------
LG-03                           No Significant Results                      
----------------------------------------------------------------------------
LG-04                           No Significant Results                      
----------------------------------------------------------------------------
LG-05                           No Significant Results                      
----------------------------------------------------------------------------



(i)Gold equivalent values calculated using a 3-year trailing average price of
$1550 US/ounce for gold and $3.71 US/pound of copper as of June 30, 2013. No
adjustment has been made for metallurgical recovery, as these remain uncertain
at this time. Gold Equivalent formula: AuEQ g/t = Au(g/t) + ((Cu% x 22.0462 x
3.71)/(1550/31.1035))


The in-fill holes were drilled at an azimuth of 200 degrees with LTP-144a at a
dip of -80 degrees and LTP-145 at a dip of -70 degrees. With hole LTP-144a we
encountered drilling problems at the start of the hole and had to restart the
hole. Both were targeting an area which is beneath a steep slope and cannot be
accessed by vertical holes. The following azimuths and dips were used for holes
drilled at the La Guama target which is located approximately 2 kilometres west
of Romero. Holes LG-01 and LG-02 were drilled at an azimuth of 270 degrees and
at a dip of -80 degrees (270, -80) ; LG-03 (270, -45); LG-04 (90, -75); LG-05
was a vertical hole. The mineralized intervals do not necessarily represent
true-widths of the mineralized body. A 50 g/t top cut-off was applied to the
gold grade. A bottom cut of 0.15 g/t gold was used and samples below this value
were assigned a 0 g/t value.


A plan map showing the hole locations at Romero for all holes drilled to date
can be found at: http://goldquestcorp.com/images/nr/Map_Romero_Aug_2013.pdf.


A cross-section showing holes LTP-144a and LTP-145 can be found at:
http://goldquestcorp.com/images/nr/Romero_Cross_Section_A_A_August_2013.jpg.


A plan map showing the hole locations at La Guama for all holes drilled to date
can be found at: http://goldquestcorp.com/images/nr/GQ_La_Guama_Aug_2013.pdf.


A complete set of all Las Tres Palmas drill hole collar coordinates and hole
directions can be found at:

http://goldquestcorp.com/images/nr/UTMS_Aug212013.xlsx.

A complete set of assay results for all Las Tres Palmas drill holes can be found
at: http://goldquestcorp.com/images/nr/LTP_Assays_Aug212013.xlsx.


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. The Company believes that the failures were the result
of a sample label mix-up and is working with the lab to confirm the results.


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 assay results and QA/QC data 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
(157,831,568 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 and
other exploration programs, its expectations for the Los Comios concession, its
plans for an initial resource estimate at Romero and plans for an updated
resource estimate at La Escandalosa. 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 cooperation of applicable regulatory
entities, 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.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
GoldQuest Mining Corp.
Julio Espaillat
President & Chief Executive Officer
[phone]
[e-mail]


GoldQuest Mining Corp.
Sebastian de Kloet
Manager, Corporate Communications - Toronto
[phone]
[e-mail]
www.goldquestcorp.com