GoldQuest Broadens and Strengthens Team with Key Additions

VANCOUVER, BC--(Marketwired - April 18, 2017) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") is pleased to announce the appointment of two important members to the management team to assist with the permitting and development of its assets in the Dominican Republic. Georges Boiss?(C) has been appointed as Special Advisor to the Company and Robert Crowley has been engaged as the full time Corporate and Social Responsibility (CSR) Manager. These appointments reinforce GoldQuest's commitment to active engagement with the Dominican communities at both a national and local level as it advances the permitting process of the Romero Gold/Copper Project and the regional exploration programs.

Mr. Boiss?(C) previously served as Canadian Ambassador to the Dominican Republic from 2012 to 2014. He joined the Canadian Foreign Service in 1991 working in Costa Rica, the Philippines, Poland, Tunisia, Paris, New York, Mexico and the Dominican Republic, and, before his ambassadorial appointment held a number of senior positions including Immigration Manager in Tunis, New York and Mexico. Originally from Rouyn-Noranda, Qu?(C)bec, he is widely recognized as a proponent of responsible mining.

Mr. Crowley is based in Santo Domingo, Dominican Republic and has 30 years of international leadership and management experience across 15 Latin American, Caribbean and Central Asian nations. His experience includes 12 years of large, multi-national project management and strategic planning, financing and planning to international standards for soil and water conservation, biodiversity, protected area management and financing of natural resources. He also has over 15 years' experience in training, managing and motivating teams in developmental themes for Non-governmental organizations and communities, as well as fundraising skills resulting in US$126.5 million bi-lateral and multi-lateral grants, complementing funding of US$100 million national level co-funding. Specifically in the Dominican Republic, he served as Bi-National Project Director of the Artibonite River Basin Management (Dominican Republic-Haiti), United States Agency for International Development (USAID)/ United States Department of Agriculture (USDA) liaison to forestry planning and USDA liaison to the Secretariat of the Presidency. As USAID's Technical Assistance Specialist to the Dominican Republic, he developed national guidelines for agriculture, forestry and watershed management. Much of this work was carried out in the San Juan Valley and environs, where GoldQuest's Romero Project and other exploration concessions are located.

"We are honoured to have attracted such high profile and skilled personnel to enhance our team as we go through the mine permitting processes," commented Bill Fisher, GoldQuest's Executive Chairman. "These appointments allow us to further engage with the Dominican authorities and stakeholders at all levels. Following our recent C$23 million financing (see March 8, 2017 new release), we are building a first-class team charged with the development of the Romero Project and have doubled our drilling efforts in the surrounding district."

Further to the Company's news release dated April 10, 2017, the board has authorized the grant of an additional 230,000 incentive stock options (the "Options") to certain officers and employees of GoldQuest, at an exercise price of C$0.50 per share. The Options are exercisable for a five-year period from the date of grant and will vest as follows: 1/3rd on the 6 month anniversary from the date of the grant; 1/3 on the first anniversary from the date of the grant and the final 1/3rd on the 18 month anniversary from the date of the grant.

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

About GoldQuest

GoldQuest is a Canadian based mineral exploration company with projects in the Dominican Republic. GoldQuest is traded on the TSX-V under the symbol GQC and in Frankfurt/Berlin with symbol M1W.

GoldQuest is actively exploring the favorable Tireo Formation which hosts the Romero deposit discovered in May 2012. Recently the Company released results from the Pre-feasibility study on the Romero project (see the Company's September 27, 2016 news release).

Forward-looking statements:

Statements contained in this news release that are not historical facts are forward-looking information that involves known and unknown risks and uncertainties. Forward-looking statements in this news release include, the Company's plans and programs for its mineral properties, including the timing of such plans and programs and the merits of the Company's mineral properties. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "has proven", "expects" or "does not expect", "is expected", "potential", "goal", "enable", "proposed", "appears", "budget", "scheduled", "estimates", "forecasts", "at least", "intends", "hope", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved".

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, risks and uncertainties inherent in mineral exploration and the estimation of mineral resources and reserves; commodity prices; changes in general economic conditions; market sentiment; currency exchange rates; the Company's ability to continue as a going concern; the Company's ability to raise funds through equity financings; risks related to operations in foreign countries; future prices of metals; failure of equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals; government regulation of mining operations; environmental risks; title disputes or claims; limitations on insurance coverage and the timing and possible outcome of litigation. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, do not place undue reliance on forward-looking statements. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.

Forward-looking statements are based on assumptions that the Company believes to be reasonable, including expectations regarding mineral exploration and development costs; expected trends in mineral prices and currency exchange rates; the accuracy of the Company's current mineral resource estimates; that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained and that there will be no significant disruptions affecting the Company or its properties.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.