Mr. Julio Espaillat reports

GOLDQUEST COMMENCES 5,000 METRE EXPLORATION DRILL PROGRAM SURROUNDING THE ROMERO PROJECT, DOMINICAN REPUBLIC - VICE PRESIDENT, INVESTOR RELATIONS APPOINTED

Goldquest Mining Corp. has commenced a 5,000-metre exploration drill program at new target areas within its Tireo project concessions. The program will cover the Imperial, La Bestia, La Bestita and Guama targets, all of which are covered by concessions granted to the company (see Jan. 13, 2015, release).

"We are pleased to be commencing our 2015 drill program on previously undrilled targets in the vicinity of our Romero project," commented Julio Espaillat, Goldquest's chief executive officer. "The 2014 exploration work included a 3,285-line-kilometre magnetics and electromagnetics airborne program, over 200 line kilometres of ground induced polarization, over 3,000 soil and rock samples, detailed geological and alteration mapping, all of which have identified a number of intriguing targets which are now being drilled."

Drilling has started at the Imperial target which was discovered by the company's geologists in mid-2014. The target is two kilometres south of the Romero project and along the same structural trend. Similar to Romero, the target displays a strong chargeability response from the IP surveys. The target is three kilometres long and up to a kilometre wide and remains open to the north and south. The Imperial target is hosted in altered volcanic rocks, similar to Romero. Detailed surface mapping has also identified occurrences of porphyritic texture coincident with disseminated sulphide mineralization and quartz stockworks.

La Bestita is one kilometre to the west of La Bestia target, and consists of anomalous gold samples in soils (up to one gram per tonne gold), coincident with highly altered rocks at surface. The target has both near-surface and covered IP anomalies which will be tested.

The Guama group of IP targets is 2.5 kilometres north of Romero and comprises a series of highly chargeable targets, all located in the recently granted Las Tres Veredas concession (see release of Jan. 6, 2015). Detailed mapping is under way, in advance of final site selection of drill platforms.

In addition, the company has appointed Ann Wilkinson as vice-president, investor relations. Ms. Wilkinson has over 20 years experience in the mining industry in both investor relations and other management roles. Prior to joining Goldquest, she served as vice-president, investor relations, of Colossus Minerals Inc. from October, 2011, to January, 2014, and prior to that she served as vice-president, investor relations, of Breakwater Resources Ltd., a position she held from October, 2005, until Breakwater's sale in August of 2011. The agreement between Goldquest and Ms. Wilkinson is effective Jan. 16, 2015, and may be terminated by either party with 30 days written notice. The agreement is subject to acceptance by the TSX Venture Exchange. Ms. Wilkinson will receive a monthly fee of $3,333 to provide the company with part-time investor relations services. Ms. Wilkinson's appointment strengthens Goldquest's senior management team as the company continues to advance the company's dual focus of optimizing the PEA for the Romero project and determining whether Romero and Romero South are part of a larger mineralized district.

The 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.

We seek Safe Harbor.