Mr. Luis Santana reports

GOLDQUEST ANNOUNCES GRANT OF STOCK OPTIONS

Goldquest Mining Corp.'s board of directors has authorized the grant of an aggregate of five million incentive stock options to directors, officers and employees of the company at an exercise price of 11 cents per common share.

The options are exercisable for a five-year period from the date of grant and will vest as follows: one-third on the date of grant, one-third on the six-month anniversary from the date of the grant and one-third on the one-year anniversary from the date of the grant.

The options are granted pursuant to the company's amended and restated stock option plan, which was most recently approved by shareholders at the company's annual general meeting of shareholders held on June 29, 2023, and remain subject to the approval of the TSX Venture Exchange.

About Goldquest Mining Corp.

Goldquest is a Canadian-based mineral exploration and development company with projects in the Dominican Republic. Goldquest is traded on the TSX Venture Exchange under the symbol GQC. The company is well financed to carry out exploration programs and to advance the development of its Romero gold/copper discovery, located in the Geological Tireo formation of the Dominican Republic.