GoldQuest Hires Engineering Manager, Awards Contract for Road Design for its Romero Gold/Copper Project

VANCOUVER, BC--(Marketwired - October 07, 2015) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") is pleased to report that the Company has retained Jean Pierre (JP) Leblanc P. Eng. to act as Consulting Engineering Manager for the Romero Project and based in the Dominican Republic.

Mr. Leblanc brings a distinguished career in mine development and project management to GoldQuest including highly relevant in-country experience. Mr. Leblanc was Project Manager during the construction phase of the currently operating Cerro de Maimon copper-gold mine in the Dominican Republic and delivered that project on time and on budget.

The Company is also pleased to announce that it has the awarded contract for the design of an upgraded access road to its 100% owned Romero project in the Dominican Republic. The road design contract was awarded to DOCALSA a long established Dominican engineering & construction company.

Commenting on the addition of a Project Manager to the GoldQuest team Julio Espaillat stated, "We're very pleased to bring an engineer of JP's caliber on board. He was a key member of the Cerro de Maimon development team. Bill Fisher, GoldQuest's Chairman, and I ran GlobeStar and oversaw the discovery and development to production of Cerro de Maimon until GlobeStar was taken over by Perilya in a $184 million transaction. We know how to permit and get a mine into production in the Dominican Republic and JP was integral to ensuring construction and startup at Cerro de Maimon went smoothly. We're confident the reunited team will be able to bring the development of the Romero deposit to an equally successful conclusion."

The new road will not only provide production quality access to Romero but also afford reliable access to the villages of Hondo Valle, La Higuera, La Ciénaga, Los Gajitos, Ingenito, Boca de los Arroyos, and the surrounding countryside, positively affecting a rural population of over 1,500 people.

The road would allow heavy equipment road access to the Romero gold/copper mining project, where a recent Technical Study by JDS Power and Engineering that described the project as having an after-tax Net Present Value (NPV(6%)) of USD $219 million, with an after-tax Internal Rate of Return (IRR) of 34%, and All In Sustaining Costs (AISC) of $572/ounce Gold Equivalent), and a pre-production capital requirement of USD $143 million (see released dated April 29, 2015).