GoldQuest Mining Corp.

GoldQuest Mining Corp.

September 26, 2005 14:46 ET

GoldQuest Extends Cerro Dorado Porphyry Gold Mineralization

TORONTO, ONTARIO--(CCNMatthews - Sept. 26, 2005) - GoldQuest Mining Corp. (TSX VENTURE:GQC) ("GoldQuest" or the "Company") is pleased to announce the discovery of new outcrops of porphyry mineralization on its Cerro Dorado project in central Dominican Republic. GoldQuest previously announced discovery drill holes (Press Release dated 25th May 2005) with intersections of:

CD-01: 0 to 22.86 metres grading 2.94 g/t Au;

CD-02: 0 to 20 metres grading 2.7 g/t Au; and

CD-04: 4 to 50 metres grading 1.34 g/t Au.

Infill soil sampling, rock chip sampling and geological mapping have now extended the alteration zone associated with the porphyry system to 1400 m by 2000 m. Critical definition of potassic altered porphyry with quartz-magnetite veining has been mapped 500 meters northwest of the drill hole collars. Soils in this area attain values up to 2.01 g/t Au with a well defined greater than 100 ppb gold anomaly extending 50 metres in a north-south direction. The zone is also traced to the north of the drilled area with soils greater than 100 ppb gold over an area of 300m by 300m reaching up to 1.13 g/t Au.

Samples 2.5 km north of the drilled zone in La Arrinconada returned values up to 0.96% Cu with 0.12 g/t Au from quartz vein float.

The drill programme will also test the structurally controlled Cana del Frio zone from which float samples previously returned 491 g/t Au (15.7 oz/t) and 7.69% Cu and 6.61 g/t Au. GoldQuest interprets these to be related to high sulphidation silica-pyrite bodies controlled by the Cana del Frio fault that is linked to the known porphyry gold mineralization. This is supported by gold in soil anomaly with values up to 0.55 g/t Au with associated bismuth, mercury, antimony and other trace elements associated high sulphidation style mineralization.

GoldQuest has commissioned a ground magnetic geophysical survey of the project area by Big Sky Geophysics to assist in defining drill sites to rapidly test the porphyry mineralization further.

The preparation and geochemical analysis of all samples was undertaken at ALS Chemex in Vancouver. The qualified person for the technical information in this press release for the purposes of National Instrument 43-101 is Stewart D. Redwood, FIMMM.

About GoldQuest

GoldQuest through its subsidiaries owns and explores mineral properties in the Dominican Republic. GoldQuest is 34.6% owned by Minmet plc, a mining and exploration company listed on the Irish Stock Exchange. Gold Fields and Placer Dome Inc. are also significant shareholders of the Company.

Shares Outstanding: 42,677,000

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information