GQC GoldQuest Mining Corporation

GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) ("GoldQuest"
or the "Company") is pleased to announce that the Company has commenced flying a
helicopter borne ZTEM geophysical survey covering its' 100% owned Tireo
Concessions. The geophysical survey is the first Electro Magnetic survey ever
flown over this belt, and will include a high-sensitivity cesium vapour
magnetometer for mapping geologic structure and lithology.


"Results from this survey will complement the PEA underway at our Romero
discovery, providing significant newsflow over the next year," commented Julio
Espaillat, GoldQuest's CEO, "ZTEM has been selected in light of our knowledge
gained at the Romero discoveries. This allows us to quickly evaluate the
complete area to depths beyond 1 kilometer. We are confident that if there are
other similar hydro thermal systems in our large Tireo concession areas, we will
identify them with this state-of-the-art system."


The map link to:
http://goldquestcorp.com/images/press_release/GQC_TireoBeltExplorationMap.jpg


Shows the extent of the ZTEM survey, surrounding our Romero discovery where the
maiden technical report describing a multi million ounce gold equivalent
resource was filed on December 17, 2013.


Geotech Limited of Canada is flying the ZTEM and magnetometry survey over all of
GoldQuest's concessions in the Tireo Formation, totaling approximately 3,000
line kilometers, at a combination of 100 and 200 meters line spacing. The survey
will improve the understanding of the geology and mineral potential along the
Tireo trend, and will provide insight into the conductivity, magnetism,
alteration and structure of the belt, in light of the Romero discoveries, which
will be covered as part of the survey. The data will complement the induced
polarization, ground magnetic, mapping and sampling programs which has generally
been confined to an area within 5 kilometers of Romero, leaving the majority of
the 60 kilometer strike length of the Tireo Concessions unexamined to date. The
survey covers areas that have been granted to GoldQuest, and those areas under
application.


The Company's 2014 approved budget for the Tireo Project covers the exploration
of the Tireo Formation in the Dominican Republic, and includes this airborne
survey, ground follow up and drilling of any anomalies in 2014.


At December 31, 2013, the Company had approximately $11 million in treasury and
is funded to complete the 2014 work programs and beyond.


The data 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.


About GoldQuest

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
(160,098,233 on a fully diluted basis).


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 mineral resource estimates, the
helicopter borne survey, the Preliminary Economic Assessment, the merits of the
Company's mineral properties, future studies, the potential for underground
mining, 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", "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 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.


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


GoldQuest Mining Corp.
Office of the Chairman - Toronto
+1-416-583-5606
wfisher@goldquestcorp.com
www.goldquestcorp.com

GoldQuest Mining (TSXV:GQC)
Historical Stock Chart
From Nov 2024 to Dec 2024

GoldQuest Mining (TSXV:GQC)
Historical Stock Chart
From Dec 2023 to Dec 2024