SOURCE: GoldQuest Mining Corp.

GoldQuest Mining Corp. TSX.V:GQC

November 11, 2015 06:30 ET

GoldQuest Launches Feasibility Studies for Its Romero Gold/Copper Project: Met-Chem Selected as Lead Consultant

VANCOUVER, BC--(Marketwired - November 11, 2015) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") is pleased to announce that the Company has commissioned both a pre-feasibility and a feasibility study on its 100% owned Romero project in the Dominican Republic. Following a competitive bidding process, the Company has selected Met-Chem Canada Inc. of Montreal to be the lead consultant. GoldQuest and Met-Chem will immediately start the pre-feasibility study (PFS), slated to be completed in Q2 2016. The feasibility study will begin immediately upon completion of the PFS with scheduled completion before the end of 2016. GoldQuest is adequately funded to complete both these studies, following the closing of a $3.5 million financing last week.

Met-Chem is an international engineering and consulting company, with mining and metallurgical experience in over 35 countries. They have direct experience in the mining sector of the Dominican Republic where they were the lead contractor for the Cerro de Maimon copper/gold mine. Met-Chem completed construction at Cero Maimon on time and on budget, and continue to be active in that mine's current mill modifications.

"We are pleased to have engaged Met-Chem, who have a stellar mining and engineering track record in both the Dominican Republic mining and elsewhere," commented Julio Espaillat, President and Chief Executive Officer. "The greater part of field work for the Romero pre-feasibility has been completed so the studies will advance rapidly."

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.

GoldQuest has moved its Toronto office to 133 Richmond Street West - Suite 501, Toronto, Ontario M5H 2L3 which has reduced corporate general administration expenditures.

Forward-looking statements:

Statements contained in this news release that are not historical facts are forward-looking information that involves known and unknown risks and uncertainties. Forward-looking statements in this news release include, but are not limited to, statements with respect to the 2015 drill program, the results of the drill program and the interpretation of the results of the drill program, further drilling, the timing of drilling and assay results, mineral resource estimates, the merits of the Company's mineral properties, future drill programs and studies, and the Company's plans and exploration programs for its mineral properties, including the timing of such plans and programs. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "has proven", "expects" or "does not expect", "is expected", "potential", "likelihood", "appears", "budget", "scheduled", "estimates", "forecasts", "at least", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved".

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, risks related to uncertainties inherent in drill results and the estimation of mineral resources; commodity prices; changes in general economic conditions; market sentiment; currency exchange rates; the Company's ability to continue as a going concern; the Company's ability to raise funds through equity financings; risks inherent in mineral exploration; risks related to operations in foreign countries; future prices of metals; failure of equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals; government regulation of mining operations; environmental risks; title disputes or claims; limitations on insurance coverage and the timing and possible outcome of litigation. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, do not place undue reliance on forward-looking statements. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws. Forward-looking statements are based on assumptions that the Company believes to be reasonable, including expectations regarding mineral exploration and development costs; expected trends in mineral prices and currency exchange rates; the accuracy of the Company's current mineral resource estimates; that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained and that there will be no significant disruptions affecting the Company or its properties.

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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