Mr. Luis Santana reports

GOLDQUEST CLOSES THIRD AND FINAL TRANCHE OF PRIVATE PLACEMENT FOR GROSS PROCEEDS OF APPROXIMATELY C$3.3 MILLION

Goldquest Mining Corp. has closed the third and final tranche of its previously announced non-brokered private placement of units of the company, originally announced on Dec. 16, 2025. The first tranche of the private placement closed on Dec. 23, 2025, and the second tranche of the private placement closed on Jan. 9, 2026.

Under the third tranche, the company issued 2,744,542 units at a price of $1.21 per unit for total gross proceeds of approximately $3.3-million.

Each unit is composed of one common share of the company and one-half of one common share purchase warrant. Each warrant will be exercisable to purchase one common share at an exercise price of $1.80 per common share for a period of 24 months from the applicable closing date of the private placement.

Combined with the first tranche and second tranche, the company has issued a total of 34,710,743 units under the private placement for gross proceeds of approximately $42-million.

In connection with the third tranche, the company paid cash finders' fees of $100,000.45 to Paradigm Capital Inc. and $66,044.34 to Milenio Partners SA, each an arm's-length party.

All common shares and warrants issued pursuant to the private placement are subject to a four-month statutory hold period under applicable Canadian securities laws.

The company expects to use the proceeds of the private placement for early development activities at the Romero project, expansion of greenfield exploration drilling and general corporate purposes.

About Goldquest Mining Corp.

Goldquest is a Canadian exploration and development company with strong participation from Dominican investors, focused on advancing its gold and copper assets in the Dominican Republic. The company has a board of directors and management team with prior experience developing and operating a mine in the country.

We seek Safe Harbor.