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GoldQuest Begins Exploration Drill Program at New Target Areas Within Tireo Project Concessions

GoldQuest Mining Corp. ("GoldQuest" or the "Company") is pleased to announce that it has commenced a 5,000 metre exploration drill program at new target areas within its Tireo Project concessions. The program will cover the Imperial, La Bestia, La Bestita and Guama group of targets, all of which are covered by concessions granted to the Company (see January 13, 2015 release).

"We are pleased to be commencing our 2015 drill program on previously undrilled targets in the vicinity of our Romero Project," commented Julio Espaillat, GoldQuest's CEO. "The 2014 exploration work included a 3,285 line kilometre Magnetics and Electro Magnetics airborne program, over 200 line kilometres of ground Induced Polarization, over 3,000 soil and rock samples, detailed geological and alteration mapping all of which have identified a number of intriguing targets which are now being drilled."

Drilling has started at the Imperial target which was discovered by the Company's geologists in mid-2014. The target is two kilometres south of the Romero Project and along the same structural trend. Similar to Romero, the target displays a strong chargeability response from the IP surveys. The target is three kilometres long and up to a kilometre wide and remains open to the north and south. The Imperial target is hosted in altered volcanic rocks, similar to Romero. Detailed surface mapping has also identified occurrences of porphyritic texture coincident with disseminated sulphide mineralization and quartz stockworks. (see map at http://www.goldquestcorp.com/images/maps/GQC_IPMap-Targets-Nov192014.pdf).

La Bestita is one kilometre to the west of La Bestia target, and consists of anomalous gold samples in soils, (up to 1 g/t gold) coincident with highly altered rocks at surface. The target has both near surface and covered IP anomalies which will be tested.

The Guama group of IP targets are 2.5 kilometres north of Romero and comprise a series of highly chargeable targets, all located in the recently granted Las Tres Veredas concession (see release of January 6, 2015). Detailed mapping is underway, in advance of final site selection of drill platforms.

In addition, the Company has appointed Ann Wilkinson as Vice President, Investor Relations. Ms. Wilkinson has over 20 years experience in the mining industry in both investor relations and other management roles. Prior to joining GoldQuest, she served as Vice President, Investor Relations of Colossus Minerals Inc. from October 2011 to January 2014 and prior to that she served as Vice President, Investor Relations of Breakwater Resources Ltd., a position she held from October 2005 until Breakwater's sale in August of 2011. The agreement between GoldQuest and Ms. Wilkinson is effective January 16, 2015 and may be terminated by either party with 30 days written notice. The agreement is subject to acceptance by the TSX Venture Exchange. Ms. Wilkinson will receive a monthly fee of $3,333 to provide the Company with part-time investor relations' services. Ms. Wilkinson's appointment strengthens GoldQuest's senior management team as the Company continues to advance the Company's dual focus of optimizing the PEA for the Romero Project and determining whether Romero and Romero South are part of a larger mineralized district.

The data in this press release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., the Director, Technical Services of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards.

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