Goldquest Mining Corp
			Symbol			GQC
			Shares Issued			61,545,551
			Close 2009-11-18			C$ 0.14
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Goldquest completes Gold Fields Dominican Republic deal

2009-11-18 15:42 ET - News Release

Mr. Alistair Waddell reports

GOLDQUEST COMPLETES TRANSACTION WITH GOLD FIELDS

Goldquest Mining Corp. has closed the transaction with Gold Fields Dominican Republic BVI Ltd. as previously disclosed in its news release of Aug. 5, 2009. As a result, Goldquest now holds a 100-per-cent interest in its Dominican portfolio. Pursuant to the terms of the agreement with Gold Fields, Goldquest has issued 8.6 million common shares to Gold Fields, representing 12.3 per cent of Goldquest's issued and outstanding common share capital.

Highlights

• Goldquest has acquired 100-per-cent ownership of Dominican portfolio in proven mineralised belt.

• Goldquest has issued 8.6 million shares and granted a 1.25-per-cent royalty interest to Gold Fields in exchange for its 60 per cent undivided interest in the projects.

• Goldquest is currently exploring newly prioritised gold and copper targets, following more than 12,900 metres of drilling and expenditures exceeding $6-million by Gold Fields.

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