Mr. Bill Fisher reports

GOLDQUEST MINING CORP. ANNOUNCES C$5 MILLION BOUGHT DEAL FINANCING

Goldquest Mining Corp. has entered into an agreement with a syndicate of underwriters led by Cormark Securities Inc., pursuant to which the underwriters have agreed to purchase 15,625,000 common shares at a price of 32 cents per common share of the company, on a bought-deal private placement basis, for aggregate gross proceeds to the company of $5-million.

The company has also granted the underwriters an option to purchase up to 15 per cent of the number of common shares sold pursuant to the offering, exercisable at any time prior to the closing date.

The net proceeds from the sale of the common shares will be used toward land acquisition, general haul road preparatory work and for general corporate purposes.

The offering is scheduled to close on or about June 9, 2015, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange.

We seek Safe Harbor.