GoldQuest Mining Corp.

GoldQuest Mining Corp.

May 25, 2005 11:09 ET

GoldQuest Mining Corp.: Discovery Holes Including 12 Meters Grading 5.29 g/t Gold Confirm Cerro Dorado Potential

TORONTO, ONTARIO--(CCNMatthews - May 25, 2005) - GoldQuest Mining Corp. (TSX VENTURE:GQC):

- 3 holes with significant intersections.

- Drill intersections include 22.86 meters @ 2.94 g/t Au including 12 meters @ 5.29 g/t Au.

GoldQuest Mining Corp. ("GoldQuest" or the "Company") is pleased to announce the results from a scout 5-hole diamond drill programme totalling 250 metres on its Cerro Dorado project in Dominican Republic.

The programme was aimed at testing the western contact of the porphyry style mineralization that is well exposed in a creek that had been channel sampled. The zone of anomalous channel samples that returned 20 m @ 6.17 g/t Au was tested with three holes (CD01, 02 & 03) with two further holes (CD04 & 05) drilled approximately 85 metres to the south of holes CD01 and 02 in an area that returned 41 m @ 1.40 g/t Au. All holes were drilled on a 100% owned GoldQuest concession. Gold Fields maintains a back in right to earn a 60% interest of the project.

Holes CD01, 02, and 04 all intersected strongly altered and oxidised diorite with a highly variable quartz-magnetite vein stockwork before intersecting weakly mineralised chlorite schists at depth. The drilling defined the intrusive contact as shallow implying possible tilting of the body. Drill holes CD 03 and CD 05 intersected late mineral porphyry with no significant results.

Drill results are summarised in the table below:

Hole No. From (m) To (m) Interval (m) Au (g/t)
CD01 0.00 22.86 22.86 2.94
(Including) 2.00 14.00 12.00 5.29
CD02 0.00 20.00 20.00 2.70
CD04 4.00 50.00 46.00 1.34
(Including) 4.00 24.00 20.00 2.71

All drilling was completed in the area of the channel sampling on the southern fringes of the large gold in soil anomaly with an area of approximately 1,500 m by 1,100 m announced in the November 16, 2004 press release. The principal soil anomaly extends onto a concession optioned from Energold Mining Ltd which GoldQuest can earn a 60% interest by spending US$1M over three years with a further option to earn up to 80%.

David Hall, President said "These results from the scout programme indicate a high grade for porphyry style mineralization. Further work will aim at defining the full extent of the mineralized stock and its geometry in relation to the known outcrop, drilled area and extensive surface geochemistry".

The source of numerous rock float boulders of replacement style silica-pyrite that are found down slope of the principal soil anomaly on Cerro Dorado has still not been located in outcrop. Samples of silica-pyrite have returned values up to 491 g/t Au (15.28 oz/t) and 7.69% Cu suggesting there may be replacement bodies related the porphyry style mineralisation yet to be discovered.

Cerro Dorado is a grass roots discovery made by GoldQuest geologists during a regional exploration program funded by Gold Fields. Further information about Cerro Dorado can be found on the Company website at

ALS Chemex, Vancouver, carried out preparation and geochemical analyses of all samples. Rock standards, duplicates and blanks are routinely inserted into all sample batches.

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. Gold Fields Ltd. and Placer Dome Inc. are significant shareholders of the Company. The Company is 52% owned by Minmet plc, a mining and exploration company listed on the Irish Stock Exchange.

Shares Outstanding: 32,177,000

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

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