Mr. Luis Santana reports

GOLDQUEST GRANTS STOCK OPTIONS; APPOINTS INVESTOR RELATIONS CONSULTANT

Goldquest Mining Corp.'s board of directors has authorized the grant of an aggregate of 6.4 million incentive stock options to existing directors, officers and certain employees of the company, at an exercise price of 31 cents per common share.

The options are exercisable for a five-year period from the date of grant and will vest as follows: one-third on the date of grant, one-third on the six-month anniversary from the date of the grant and one-third on the one-year anniversary from the date of the grant. The options are granted pursuant to the company's stock option plan, which was most recently approved by shareholders at the company's annual general meeting of shareholders held on Sept. 27, 2024.

Goldquest also announces that it has entered into an investor relations agreement dated Feb. 1, 2025, with Daniel G. McIntyre Consulting Inc., for an initial five-month term. The consultant will provide advertising, marketing and investor relations services to assist with advancing the company's market exposure. The agreement is subject to the approval of the TSX Venture Exchange.

Luis Santana, director and chief executive officer, commented: "On behalf of the board, I am pleased to welcome Dan to the Goldquest team. With over 20 years of experience in the junior resource sector, he will play a key role in developing our communications programs and investor relations strategy. As we prepare to relaunch exploration at the Tireo project in 2025 and advance the Romero project towards development in the Dominican Republic, his expertise will support our ongoing commitment to creating value for all stakeholders."

As compensation, subject to TSX-V approval of the agreement, Goldquest will grant the consultant 200,000 stock options at an exercise price of 31 cents per share, exercisable for five years, with quarterly vesting over 12 months from the date of grant. Additionally, the consultant will receive a monthly fee of $9,500 plus applicable taxes and preapproved out-of-pocket expenses. To the company's knowledge, the consultant is arm's length to the company and does not have a material interest in the securities of the company, other than the stock options disclosed above. The consultant's offices are located in North Vancouver, B.C.

About Goldquest Mining Corp.

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

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