Mr. Julio Espaillat reports

GOLDQUEST LAUNCHES FEASIBILITY STUDIES FOR ITS ROMERO GOLD/COPPER PROJECT: MET-CHEM SELECTED AS LEAD CONSULTANT

Goldquest Mining Corp. has commissioned both a prefeasibility and a feasibility study on its 100-per-cent-owned Romero project in the Dominican Republic. Following a competitive bidding process, the company has selected Met-Chem Canada Inc. of Montreal to be the lead consultant. Goldquest and Met-Chem will immediately start the prefeasibility study, slated to be completed in second-quarter 2016. The feasibility study will begin immediately upon completion of the PFS, with scheduled completion before the end of 2016. Goldquest is adequately financed to complete both these studies following the closing of a $3.5-million financing last week.

Met-Chem is an international engineering and consulting company, with mining and metallurgical experience in over 35 countries. It has direct experience in the mining sector of the Dominican Republic, where it was the lead contractor for the Cerro de Maimon copper/gold mine. Met-Chem completed construction at Cero Maimon on time and on budget and continue to be active in that mine's current mill modifications.

"We are pleased to have engaged Met-Chem, who have a stellar mining and engineering track record in both the Dominican Republic mining and elsewhere," commented Julio Espaillat, president and chief executive officer. "The greater part of fieldwork for the Romero prefeasibility has been completed, so the studies will advance rapidly."

The information in this news release has been reviewed and approved by Jeremy Niemi, PGeo, vice-president, exploration, of Goldquest and a qualified person for the technical information in this news release under National Instrument 43-101 standards.

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