GoldQuest: Receives Exploration License from DR government

GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") is pleased to report that the Ministry of Energy and Mines of the Dominican Republic (“MEM”) has granted a new Exploration License to the company. The Piedra Dura Exploration License total 325.50 hectares and is located north of the Romero Project. GoldQuest’s Exploitation License application for the Company’s 100% owned Gold/Copper Romero project is still under review.

“We are pleased that the Ministry of Energy and Mines continues to issue Exploration Licenses.  We look forward to continuing our Exploration program once we receive the Romero Exploitation Concession,” commented Dave Massola, GoldQuest's CEO.  “The Company continues to conserve cash with approximately $17 million in treasury and is well funded to continue the exploration program and to advance towards a production decision at Romero, once the Exploitation License is granted.”

The information in this press release has been reviewed and approved by William Fisher, P. Geo., Chairman 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 and development company with projects in the Dominican Republic. GoldQuest is traded on the TSX‐V under the symbol GQC and in Frankfurt/Berlin with symbol M1W. The Company is well funded to carry out the exploration programs reported on in this release and to advance the development of its Romero gold/copper discovery, also located in the Tireo Formation of the Dominican Republic.

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.

CONTACT INFORMATION

GoldQuest Corp

Dave Massola

Chief Executive Officer - Toronto

+1‐416-583-5606

[e-mail]