Descansadero Concession Granted

VANCOUVER, BC - GoldQuest Mining Corp. reported the issuance to GoldQuest of the Descansadero concession, adjacent to its Romero Gold/Copper Project in the Dominican Republic. The Company has also commissioned a 3,000 line kilometer helicopter borne geophysical survey covering its 100% owned Tireo Project, including both the concessions granted to the Company and concessions that are under re-application, which are expected to be granted to GoldQuest in due course. The geophysical survey is the first Electro Magnetic survey ever flown over this belt.

GoldQuest now has 6,750 hectares granted and 7,694 hectares pending, representing around 60 kilometers strike length of the highly prospective Tireo volcanic Formation,  said Julio Espaillat, CEO, Geological knowledge and data from our Romero discoveries will provide valuable insight into further target selection, as we seek further gold and copper mineralization.

The Dominican Republic’s Secretary of State for Industry and Commerce granted to GoldQuest the 725 hectare concession, which is 1 kilometer north of the Romero Project, covering part of the Tireo volcanic Formation. The Company recently published a NI 43-101 mineral resource estimate at the Romero Project which included approximately 2.4 million ounces of gold equivalent Indicated mineral resources and approximately 0.8 million ounces of gold equivalent Inferred mineral resources. The Company is carrying out a Preliminary Economic Assessment at Romero, which is expected to be completed in early Q2 2014.

The Descansadero concession is located directly north and adjacent to the Los Comios Concession.