Mr. Luis Santana reports

GOLDQUEST APPOINTS MARTIN WAFFORN TO BOARD OF DIRECTORS AND GRANTS STOCK OPTIONS

Goldquest Mining Corp. has appointed Martin Wafforn to the company's board of directors.

Mr. Wafforn is a professional mining engineer with more than 40 years of technical, operational and project development experience in the mining industry. Most recently, he served as senior vice-president, technical services and process optimization, at Pan American Silver, where he held progressively senior roles over more than 20 years. During his tenure, Mr. Wafforn had executive responsibility for mine engineering, geotechnical engineering, metallurgy, mineral resource management and critical facilities across Pan American's global operations. He also led the preliminary economic assessment for the $1.9-billion (U.S.) La Colorada Skarn expansion project in Mexico, and participated in the evaluation and integration of numerous acquisitions, including Aquiline Resources, Minefinders, Tahoe Resources, Yamana Gold and MAG Silver.

Prior to joining Pan American, Mr. Wafforn held senior mine engineering and operational roles with Barrick Gold and Homestake Mining, including as mine superintendent at the Eskay Creek and David Bell mines. He currently serves on the board of directors of New Pacific Metals and as a senior technical adviser to Pan American Silver.

Mr. Wafforn holds a bachelor of science in mining (honours) from the Camborne School of Mines in England and is a professional engineer registered with Engineers and Geoscientists British Columbia.

Frank Balint, chairman of Goldquest, commented:

"We are delighted to welcome Martin to the board. His extensive experience in mine engineering, project development and operations will bring valuable technical and practical expertise as we continue to advance Romero responsibly. We look forward to his contribution to Goldquest."

Stock options grant

The company also announces that it has granted an aggregate of 1.1 million stock options to purchase common shares of the company to certain directors and officers of the company.

The options expire on Sept. 16, 2031, and vest as to one-third on the date of grant, one-third on the six-month anniversary of the date of grant and one-third on the one-year anniversary of the date of grant. The options may be exercised at a price of 75 cents per common share, representing the closing market price of the common shares on the TSX Venture Exchange on the trading day prior to the date of grant.

The granting of options forms part of the company's long-term incentive framework designed to retain key talent and align leadership, technical teams and advisers with long-term value creation for all stakeholders.

The options were granted pursuant to the company's amended and restated stock option plan.

Cancellation of stock options

The company also announces that its board has approved the cancellation of 40,000 options previously granted to a former employee of the company in error. The cancelled options were granted under the company's amended and restated stock option plan and were cancelled by the board in accordance with the terms of such plan.

About Goldquest Mining Corp.

Goldquest Mining is a Canadian exploration and development company with strong participation from Dominican investors, focused on the responsible exploration and development of its gold and copper projects in the Dominican Republic.

We seek Safe Harbor.