Mr. Julio Espaillat reports

GOLDQUEST ENGAGES RED CLOUD AS INVESTOR RELATIONS REPRESENTATION

Goldquest Mining Corp. has retained Red Cloud Klondike Strike to provide capital markets advisory services, effective immediately. Red Cloud will assist in the strategic development and execution of the company's investor relations program including corporate communications, media solutions and stakeholder relations.

The agreement with Red Cloud is effective June 1, 2016, and has an initial term of three months. Under the terms of the agreement, Red Cloud will receive a monthly fee of $3,500 in cash. In addition, Red Cloud has been granted 200,000 stock options with a term of five years, vesting equally over 12 months and with an exercise price of 32.5 cents per share. The agreement and stock option grant to Red Cloud are subject to approval by the TSX Venture Exchange.

To the company's knowledge, Red Cloud and its partners are arm's length to the company and do not own any shares or other securities of the company.