Mr. Julio Espaillat reports

GOLDQUEST REPORTS 34.0 M GRADING 10.94 G/T GOLD AND 1.87% COPPER (GOLD EQUIVALENT OF 14.01 G/T) AT ROMERO FROM IN-FILL DRILLING

Goldquest Mining Corp. has released assay results from three drill holes, two infill and one step-out, at the company's 100-per-cent-owned Romero discovery along the Las Tres Palmas trend in the Dominican Republic. The infill holes were the first two from a four-hole program at Romero to increase the confidence of the data in advance of any National Instrument 43-101 resource estimate. One of the two infill holes, LTP-140, has the longest mineralized intercept of all the drilling at Romero to date, with over 269 metres of gold and copper mineralization.

The two infill holes are part of an infill drill program planned in consultation with the company's external qualified person, B.T. Hennessey, PGeo, of Micon, to provide increased confidence in the continuity of the gold and copper mineralization as well as increased data density. The addition of the two infill holes provides approximately 30-metre drill hole spacing in an area of known mineralization. The holes are located 125 metres east of LTP-90, the original discovery hole at Romero.

Highlights of the infill holes include:

• LTP-140 which contained 269.35 metres grading 2.35 grams per tonne gold (uncut) and 0.56 per cent copper, including 32.0 metres grading 9.95 grams per tonne gold and 1.58 per cent copper;
• LTP-143 which contained 215.76 metres grading 2.54 grams per tonne gold and 0.60 per cent copper, including 34.0 metres grading 10.94 grams per tonne gold and 1.87 per cent copper.

"LTP-140 has returned the longest gold/copper intersection to date at Romero," commented Goldquest chief executive officer, Julio Espaillat. "We are especially encouraged by the core zones of 10 gram per tonne gold along with high-grade copper mineralization of over 30 metres in both holes."

The results from the three new holes, two infill and one step-out, are summarized in the table.

                                  DRILL RESULTS
                                                           Gold            
                                                           (g/t)           
                                          Gold           50 g/t        Gold
              From        To  Interval    (g/t) Copper  top cut- equivalent
Hole ID         (m)       (m)       (m)  uncut      (%)     off          (i)

LTP-138     129.85    164.69     34.84    0.53    0.05     0.53        0.61
and         210.00    243.47     33.47    0.62    0.03     0.62        0.67
LTP-140     127.00    396.35    269.35    2.35    0.56     2.12        3.27
including   246.00    278.00     32.00    9.95    1.58     9.95       12.54
LTP-143     118.00    333.76    215.76    2.54    0.60     2.54        3.52
including   150.00    184.00     34.00   10.94    1.87    10.94       14.01

(i) Gold equivalent values calculated using a three-year trailing average 
price of $1,550 (U.S.) per ounce for gold and $3.71 (U.S.) per pound of 
copper as of June 30, 2013. No adjustment has been made for metallurgical 
recovery, as it remains uncertain at this time. Gold equivalent formula: 
AuEQ g/t: ((Cu per cent times 22.0462 times 3.71) divided by (1,550 divided
by 31.1035))

The infill holes are drilled at an azimuth of 200 degrees with LTP-140 at a dip of 80 degrees and LTP-143 at a dip of 70 degrees. Both were targeting an area which is beneath a steep slope and cannot be accessed by vertical holes. Hole LTP-138 is a vertical hole, approximately 200 metres northwest of the discovery hole LTP-90. The mineralized intervals do not necessarily represent true widths of the mineralized body. A 50-gram-per-tonne top cut-off was applied to the gold grade. A bottom cut of 0.15 gram per tonne gold was used and samples below this value were assigned a zero-gram-per-tonne value.

As part of the company's quality assurance and quality control procedures, most of the high-grade intervals are reassayed and the company is awaiting these check samples. In addition, systematic reassaying of intervals is in progress, to confirm compliance of blanks and duplicates checks. The company also reviews results from certified standard reference materials, which are inserted at a rate of five per 100 samples. Within the results disclosed herein there were four samples from three separate batches, which had results outside the recommended tolerances. One was for gold and the other three were for copper. The gold failure is not from a mineralized interval and the company has not requested reassay of the batch. The batches with the copper failures are being reassayed.

In Goldquest's drill programs, composite intervals were chosen using a combination of geological criteria and mineralization, averaging around two 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-gram-per-tonne detection limit for gold were given a zero value. All drill samples were prepared and screened by ACME Labs (Santo Domingo); metallic fire assay and multielement 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 grams per tonne gold, were reassayed and completed with a gravimetric finish. Quality assurance/quality control 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.

The assay results and quality assurance/quality control data in this press release have been reviewed and approved by Jeremy Niemi, PGeo, the director, technical services, of Goldquest and a qualified person for the technical information in this press release under National Instrument 43-101 standards.

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