Mr. Luis Santana reports

GOLDQUEST REPORTS NEW HIGH-GRADE POLYMETALLIC MASSIVE SULPHIDE DISCOVERY AT CACHIMBO TARGET, DOMINICAN REPUBLIC

Goldquest Mining Corp. has released results from the continuing exploration campaign at the Cachimbo target. Drill hole TIR-26-58 has intersected a significant high-grade polymetallic zone, confirming a new mineralized parallel structure located to the northeast of the known Cachimbo mineralized zone.

The intercept returned high-grade values for gold, silver, copper and zinc, with a notable high-grade core of 3.59 metres grading 17.63 grams per tonne gold equivalent. This discovery represents the first major drill success at Cachimbo following the resumption of drilling after a nine-year hiatus and identifies a new target for additional drill testing.

• TIR-26-58: 12.26 metres of 2.52 g/t gold, 50.7 g/t silver, 0.94 per cent copper and 12.0 per cent zinc from 104.5-metre depth;
• High-grade core: including 3.59 m of 5.74 g/t Au, 128.88 g/t Ag, 2.18 per cent Cu and 27.6 per cent Zn;
• New structure: The intercept confirms a new mineralized parallel structure, significantly expanding the potential footprint of the Cachimbo discovery;
• Open at depth: mineralization remains open in multiple directions, with further drilling planned to test the continuity of this new zone;
• Geophysics program under way: a pole-dipole induced polarization survey is being executed to improve drill targeting.

Hole TIR-26-58 was positioned to test a structural offset identified through recent detailed structural reinterpretation. The mineralization is hosted within a sequence of lithic and mafic tuffs, characterized by massive to semi-massive sulphide assemblages.

The presence of high-grade copper (2.18 per cent Cu), silver (128.88 g/t Ag) and zinc (27.61 per cent Zn) within the core of this intercept confirms that the new parallel structure is a high-tenor polymetallic system. This second structure significantly expands the potential volume of the Cachimbo target as it remains open along strike and downdip. The table below shows a detail of the intercepts and grades.

Exploration at Cachimbo is continuing. While the initial results for TIR-26-58 are encouraging, assays for the second half of the hole remain pending and are expected shortly.

Furthermore, drilling of holes TIR-26-57 and TIR-26-59, which targeted the downdip extension of the primary Cachimbo zone, has been completed. Results from hole TIR-26-57 did not return significant intercepts while results for hole TIR-26-59 are currently pending laboratory analysis. The rig has transitioned to TIR-26-60, targeting deep extension of Cachimbo.

In addition to the drilling, a new PD-IP survey is being carried out. Two lines are already completed, and results shows a good correlation between low- and high-chargeability contrast and mineralization, especially at the new-found volcanogenic massive sulphide structure. The company looks forward to integrating these newly generated data to further refine its exploration of the Cachimbo target.

Luis Santana, chief executive officer of Goldquest, commented: "The discovery of a high-grade parallel structure at Cachimbo after nine years is a testament to our team's systematic approach to exploration in the Tireo Bel. These initial results from TIR-26-58 underscore the polymetallic potential of the district and suggest that Cachimbo is a much larger system than previously understood."

Quality assurance/quality control

As part of the company's quality assurance and quality control procedures, the company reviews results from certified standard reference materials, which are inserted at a rate of five per 100 samples. Within the results disclosed herein, there were no samples with results outside of the recommended tolerances for the standards. In Goldquest's drill programs, composite intervals were chosen using a combination of geological criteria and mineralization, averaging around two-metre core length. The drill core is cut in half with one-half of the core sample shipped to Bureau Veritas Labs by Goldquest technicians. The remaining half of the core is kept at the company core shack for future assay verification or any other further investigation. Assays within intervals below the 0.005 g/t detection limit for Au were given a 0.0025 g/t value. All drill samples were prepared and screened by Acme Labs (Vancouver); and metallic fire assay and multielement ICP-MS were assayed by Bureau Veritas Laboratories (Vancouver). Gold values are determined by standard fire assay with an AA finish, or, if over 10.0 g/t Au, were reassayed and completed with a gravimetric finish. Copper and zinc values exceeding 0.2 per cent were reassayed with a four-acid digestion and AAS finish. When zinc values exceeded 10 per cent, a classic titration was carried out for zinc. QA/QC included the insertion and continual monitoring of numerous standards, blanks and duplicates into the sample stream, at random intervals within each batch. The comprehensive Goldquest QA/QC procedures can be viewed on Goldquest's website.

Qualified person

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

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.

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