SOURCE: GoldQuest Mining Corp.

GoldQuest Mining Corp. TSX.V:GQC

January 20, 2015 20:34 ET

GoldQuest Grants Incentive Stock Options

VANCOUVER, BC--(Marketwired - January 20, 2015) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") has granted an aggregate of 1,700,000 incentive stock options (the "Options") to officers and employees of GoldQuest, at an exercise price of $0.15 per share (effectively a 20% premium to today's close).

The Options are exercisable for a five-year period from the date of grant with the majority of the Options vesting one-third on the six-month anniversary from the date of the grant, one-third on the twelve-month anniversary and the final third on the eighteen-month anniversary from the date of the grant. Of the 1,700,000 million Options granted, 50,000 Options vest in quarters with one quarter vesting on the three-month anniversary from the date of the grant, one quarter vesting on the six-month anniversary from the date of grant, one quarter vesting nine months from the date of grant and the final quarter vesting on the one year anniversary from the date of grant.

The Options are granted pursuant to the Company's stock option plan, which was most recently approved by the shareholders of the Company at the annual general meeting of shareholders held on June 12, 2014.

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, with 145,755,044 shares outstanding (160,311,207 on a fully diluted basis) as at the date of this release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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