Mr. Luis Santana reports

GOLDQUEST COMMENCES 2025 EXPLORATION PROGRAM WITH 5,000 METERS OF DRILL CAMPAIGN

Goldquest Mining Corp.'s 2025 exploration program is now under way. This comprehensive initiative includes extensive ground exploration and an initial phase 1 drill campaign of up to 5,000 metres.

Exploration activities have commenced at the Los Ganchos and Canada La Vaca targets, within the company's prioritized exploration corridor. The program includes detailed surface mapping, rock and soil sampling, and trenching to refine high-potential drill targets.

"This campaign builds on our proven discovery track record in the Tireo belt," stated Luis Santana, chief executive officer. "With this drilling program we are eager to unlock the next generation of gold-copper VMS deposits while advancing Romero toward development."

Leandro Sastre, vice-president of exploration, added: "Returning to the Tireo belt energizes the whole team. This phase of detailed mapping, trenching and sampling will refine our targeting and set the stage for the upcoming 5,000-metre drill program."

2025 program highlights:

• Five drill-ready VMS (volcanogenic massive sulphide) targets: Los Ganchos, Canada La Vaca, Los Mineros, Cachimbo SE, Cachimbo NW;
• 50-kilometre district-scale trend anchored by existing Romero and Romero South resources;
• Fully financed exploration budget from Goldquest's approximately $15-million treasury;
• Phase 1 designed to deliver near-term, high-impact results ahead of the Romero bankable feasibility study.

The 2025 program will evaluate multiple new VMS targets and conduct follow-up drilling on previously identified significant intersections at Los Ganchos, Canada La Vaca, Los Mineros, Cachimbo SE and Cachimbo NW. The Tireo formation continues to demonstrate exceptional potential for additional VMS discoveries, comparable with internationally recognized belts.

During the last few years, Goldquest's geological team in the Dominican Republic has continued low-cost surface work and exploration of which the results are instrumental for the company's new drilling initiatives. Of the following targets, only Romero and Romero South have published resources, with all other targets representing additional VMS opportunities. The Romero project has an indicated resource of 20 million tonnes at 3.48 grams per tonne gold equivalent.

Strong financial position

As of Dec. 31, 2024, Goldquest maintains a cash position of $15-million, and has allocated a budget to finance its 2025 exploration program. Additional funds are earmarked for environmental and bankable feasibility study (BFS) work at Romero, which also includes additional drilling at Romero. The prefeasibility study published in 2016 revealed an after-tax NPV (5%) (net present value, 5-per-cent discount rate) of $203-million (U.S.), and an after-tax IRR (internal rate of return) of 28 per cent, based on a gold price of $1,300 (U.S.)/ounce and $2.50 (U.S.)/pound copper. The BFS will incorporate updated metal price and cost assumptions.

Qualified person

The scientific and technical information in this press release has been reviewed and approved by Leandro Sastre, PGeo, vice-president of exploration of Goldquest and a qualified person for the technical information in this press release under National Instrument 43-101 -- Standards of Disclosure for Mineral Properties.

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 symbol M1W. The company is well funded to carry out the exploration programs reported on in this release and to advance the development of its Romero gold/copper discovery, also located in the Tireo formation of the Dominican Republic.

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