GoldQuest Mining Intersects 53 Metres of 1.0 g/t Au from Ongoing 10,000 Metre Drill Program at Cachimbo Discovery

VANCOUVER, BC--(Marketwired - June 06, 2017) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") is pleased to report assay results from the latest 8-hole batch of drill holes from its ongoing ~10,000 metre drill program. The program is focused on identifying new gold systems and defining the extents of the mineralization at the recent Cachimbo Discovery. All drilling occurs within its 100% owned Tireo Concessions, which hosts the multi-million ounce Romero Project in the Dominican Republic.

Highlights:

• TIR-17-28 intersected 53 metres of 1.00 g/t gold with higher grade sections including:
  -- 3.1 metres grading 4.82 g/t gold, 27.9 g/t silver, 2.18% zinc and 0.21% copper
  -- 0.3 metres grading 22.3 g/t gold, 76.8 g/t silver, 10.7% zinc and 1.02% copper
• TIR-17-25 intersected 21.77 metres grading 1.83 g/t gold including:
  -- 1.4 metres grading 9.13 g/t gold and 25 g/t silver
• Drilling continues at Cachimbo and mineralization is open down dip and along strike

Drilling results are from a series of targets in three areas, Cachimbo, Mineros Ridge and Las Avispas, all encountering large epithermal/VMS systems, related to the collision of the Atlantic and Caribbean geological plates.

Hole locations

Assays from three holes at Cachimbo are reported herein. All three holes intersected gold within strata-bound polymetallic massive and semi-massive sulphide horizons and underlying vein quartz-sulfide vein stock works. Anomalous intersections were encountered in Holes TIR-17-22 (16 metres grading 1.2 g/t gold) and TIR-17-25 (22 metres grading 1.8 g/t gold) which were collared from the same platform as the Cachimbo discovery hole, TIR-16-09 intersecting 5 metres grading 14 g/t gold, 74 g/t silver, 12% zinc and 1% copper (see release dated January 10, 2017), and have extended the mineralization to the north-west and south-west. Hole TIR-17-28 (50 metres grading 1 g/t gold) was collared 100m east of the discovery hole platform. The mineralization appears to be dipping to the east and additional holes are tracing the extents eastwards and to the north and south, with assays pending. Drilling continues at Cachimbo and will test areas along strike to the south east and north west of the discovery.

At Mineros Ridge drilling intersected additional encouraging gold and base metal mineralization in hole TIR-17-19 which intersected 5 zones of anomalous gold and/or base metal mineralization. Further interpretation of the drilling is on-going to assess the next steps for the area.

While the holes at the Las Avispas targets to date have not revealed significant gold mineralization, the drilling has defined the presence of a volcanic eruptive centre similar to that observed at Romero in which the sulfide-impregnated key pebble breccia horizon recognized at all the district's major gold occurrences is present. The Company is interpreting the results and determining the next steps for the target.

"The current drill program continues to seek new discoveries along GoldQuest's 50 kilometre long concessions, as well as define more clearly our discoveries such as Cachimbo," commented Bill Fisher, GoldQuest's Executive Chairman. "Drilling has encountered anomalous gold and copper in new areas and we look forward to further results as we unlock the potential of the Tireo Belt."

*Interval grades are calculated using uncapped assays. Gold values did not exceed 22.3 g/t. Intervals may not represent true widths. There is insufficient drilling to determine the orientation of the mineralized zones at this time.

QA/QC

As part of the Company's Quality Assurance and Quality Control procedures (QA/QC the Company reviews results from Certified Standard Reference materials (CRSM or Standards), which are inserted at a rate of five per 100 samples. Within the results disclosed herein there were no samples with results outside of the recommended tolerances for the standards. In GoldQuest's drill programs, composite intervals were chosen using a combination of geological criteria and mineralization, averaging around two metres core length. The drill core is cut in half with one half of the core sample shipped to ACME Labs by GoldQuest technicians. The remaining half of the core is kept at the Company core shack for future assay verification, or any other further investigation. Assays within intervals below the 0.005 g/t detection limit for Au were given a zero value. All drill samples were prepared and screened by ACME Labs (Vancouver); metallic fire assay and multi‐element ICP‐MS were assayed by ACME Analytical Laboratories (Vancouver). Gold values are determined by standard fire assay with an AA finish, or, if over 10.0 g/t Au, were re‐assayed and completed with a gravimetric finish. Copper and zinc values exceeding 0.2% were re-assayed with a 4-acid digestion and AAS finish. When zinc values exceeded 10% a classic titration was carried out for zinc. QA/QC included the insertion and continual monitoring of numerous standards, blanks and duplicates into the sample stream, at random intervals within each batch. The comprehensive GoldQuest Quality Assurance and Quality Control protocols can be viewed on GoldQuest's website at: http://www.goldquestcorp.com/index.php/corporate/corporate‐governance.

The information in this press release has been reviewed and approved by Mr. Jeremy Niemi, P. Geo., Vice President, Exploration of GoldQuest and a Qualified Person for the technical information in this press release under NI 43‐101 standards.

About GoldQuest

GoldQuest is a Canadian based mineral exploration 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.