GoldQuest Discovers New Geophysical Trend Two Kilometers from the Romero Gold / Copper Discovery

GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) ("GoldQuest"
or the "Company") is pleased to announce they have discovered a new geophysical
trend which lies approximately two kilometres west of the Romero mineralization
on the Las Tres Palmas trend, (see
http://goldquestcorp.com/images/pdf/2013_03_26_GQC_Exploration_Map.pdf). The
newly discovered Guama trend is sub-parallel to the Las Tres Palmas trend, and
is coincident with a series of high grade copper grab samples collected by the
Company in previous campaigns. Copper results in this area include 59 of 212
samples returning grades over 1% of which the highest grade sample was 34.5%
copper and was collected from north of the Guama Induced Polarization ("IP")
anomaly (see press release March 6, 2006). Within these 59 samples 5 were over
10% copper and 13 samples returning grades between 5% and 10%. 


In addition, detailed mapping done in late 2012 identified chlorite alteration
at surface overlying the Guama trend. Chlorite alteration is often associated
with hydrothermal systems. At GoldQuest's Romero hydrothermal gold/copper
discovery, chlorite does not reach surface, but has been reported in every drill
hole, often surrounding copper and gold mineralization.


"Guama is the first area GoldQuest has tested outside the 2011 geophysical
survey," commented Julio Espaillat, GoldQuest's President & CEO. "It is
gratifying to have discovered a new trend based on geophysics, detailed mapping
and geochemistry, as we unfold our geological drilling program to compliment
drilling in the core Romero area."


The trend is clearly defined by chargeability and resistivity anomalies trending
NNW-SSE, and is over 1 kilometre in length, open to the north and south.
Chargeability was measured within an Insight Induced Polarization program, which
is covering the Las Tres Palmas trend and other areas in the district. High
chargeability to date in the area strongly correlates with sulphide
mineralization, as seen at the Romero mineralization, where the Company
encountered copper and gold mineralization up to 234 metres grading 7.9 g/t gold
and 1.4% copper (see release of August 27, 2012). 


Exploration Update at Jengibre:

The Company has also commenced the first ground geophysical program over its
Jengibre anomaly, that lies approximately 35 kilometers south-east of the Las
Tres Palmas trend, within the company's contiguous land position. Jengibre was
discovered by GoldQuest, and was first drilled in 2008. Seven drill holes were
drilled, of which the best hole returned 22 meters grading 2.0 g/t gold (see
press release August 5, 2009). The mineralization was encountered within the
same Tireo Formation volcanics as Romero and Escandalosa at Las Tres Palmas.
Drilling of Jengibre is expected to commence within Q2 2013, if justified by the
geophysical and geological preparation work.


The Company is currently operating three drill rigs with two rigs at Romero and
a third rig allocated to test geological targets along the Las Tres Palmas and
Guama trends. A fourth rig has cleared customs and will drill geological targets
including Jengibre.


Some of the current drill program that began January 2013 will consist of
geological drilling. In this case assays will be reviewed by the company on a
hole-by-hole basis to assist siting of new drill holes, and will be released in
batches. The assay laboratories typically hold step-out assay results until a
batch is ready for release.


About GoldQuest 

The information in this press release has been reviewed and approved by Mr.
Jeremy Niemi, P. Geo., the Director, Technical Services of GoldQuest and a
Qualified Person for the technical information in this press release under NI
43-101 standards. Preparation and geochemical analyses of all surface samples
were carried out by ALS Chemex, Vancouver. Rock standards and blanks were
routinely inserted into all sample batches for quality assurance and control. 


GoldQuest is a Canadian-based mineral exploration company with projects in the
Dominican Republic traded on the TSX-V under the symbol GQC.V and in
Frankfurt/Berlin with symbol M1W, with 143,980,044 shares outstanding
(157,481,568 on a fully diluted basis). 


FOR FURTHER INFORMATION PLEASE CONTACT: 
GoldQuest Mining Corp.
Julio Espaillat
President & Chief Executive Officer
+1-829-919-8701
jespaillat@goldquestcorp.com


GoldQuest Mining Corp.
Sebastian de Kloet
Investor Relations - Toronto
+1-416-214-9151
investorrelations@goldquestcorp.com
www.goldquestcorp.com

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