Mr. Luis Santana reports

GOLDQUEST ANNOUNCES PROGRESS ON 2025 EXPLORATION PROGRAM IN THE DOMINICAN REPUBLIC

Goldquest Mining Corp. has provided an update on the first progress on its 2025 exploration program.

The company continues to advance its dual-track strategy: the development of the Romero project and a renewed focus on regional exploration within the Tireo belt. Over the spring months, Goldquest's exploration team carried out an extensive program of trenching and channel sampling across greenfield targets in the belt.

These efforts are aimed at narrowing down high-priority drill targets for a planned drill campaign of at least 5,000 metres, expected to commence in Q3 (third quarter) 2025. This marks an important milestone for the company, as it will be the first drilling since the 2018 campaign.

Luis Santana, chief executive officer of Goldquest Mining, commented: "As we move forward with the Romero project following the receipt of our terms of reference, we're equally focused on unlocking the broader potential of the Tireo belt. Our exploration team has been working diligently and we're now beginning to see results that will guide our upcoming drill program. These efforts are key to creating long-term shareholder value while continuing to advance Romero."

Goldquest has also contracted a specialist in structural geology to assist with the structural modelling of the projects and has a senior geophysicist reprocessing existing downhole magnetic susceptibility data together with the raw data from the ground magnetic surveys. The Goldquest exploration team has now implemented a modern, cloud-based database platform (MX deposit) to organize the existing geological information, add new data and make it easily available for its analysis.

All this work is expected to culminate in a robust, integrated geological model to assist with targeting and drilling planned to start during Q3 2025.

At Canada La Vaca and Los Ganchos, results highlight a northwest-trending corridor of four-plus kilometres with gold mineralization at surface (consistent values more than one grams per tonne (g/t) in rock chips and trenches), robust soil anomalies (Au (gold) plus Ag (silver) plus Cu (copper)) and IP (induced polarization) chargeability anomalies. Adding in results from the Cachimbo area, this trend extends to a 7.5-plus-kilometre trend.

Goldquest is entering an exciting new phase of growth and development. After years of dedicated work in community engagement and constructive dialogue with government authorities, the company is now poised to advance the full potential of its highly prospective land package. With the recent receipt of the terms of reference for the environmental and social impact assessment (ESIA) of the Romero project, Goldquest is thrilled to move forward with the environmental studies at Romero and to resume exploration activities across the broader Tireo belt, including the highly promising Cachimbo area.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Leandro Sastre, PGeo, vice-president of exploration of Goldquest and a qualified person for the technical information in this news release under National Instrument 43-101, Standards of Disclosure for Mineral Properties.

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 and in Frankfurt/Berlin with symbol M1W. The company is well financed to carry out the exploration programs reported on in this news release and to advance the development of its Romero gold/copper discovery, also located in the Tireo formation of the Dominican Republic.

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