M1W Goldquest Mining Corp.

GoldQuest Mining Corp. (TSXV:GQC), “GoldQuest” or the “Company”) announces that the board of directors of the Company has authorized the grant of an aggregate of 6,400,000 incentive stock options (the “Options”) to existing directors, officers and certain employees of the Company, at an exercise price of $0.31 per common share.

The Options are exercisable for a five-year period from the date of grant and will vest as follows: ⅓ on the date of grant, ⅓ on the six-month anniversary from the date of the grant and ⅓ on the one-year anniversary from the date of the grant. The Options are granted pursuant to the Company’s stock option plan, which was most recently approved by shareholders at the Company’s annual general meeting of shareholders held on September 27, 2024.

GoldQuest also announces that it has entered into an Investor Relations Agreement (the “Agreement”) dated February 1, 2025 with Daniel G. McIntyre Consulting Inc. (the “Consultant”) for an initial 5-month term. The Consultant will provide advertising, marketing, and investor relations services to assist with advancing the Company’s market exposure. The Agreement is subject to the approval of the TSX Venture Exchange (the “TSX-V”).

Mr. Luis Santana, Director and CEO commented, “On behalf of the Board, I am pleased to welcome Dan to the GoldQuest team. With over 20 years of experience in the junior resource sector, he will play a key role in developing our communications programs and investor relations strategy. As we prepare to relaunch exploration at the Tireo Project in 2025 and advance the Romero Project towards development in the Dominican Republic, his expertise will support our ongoing commitment to creating value for all stakeholders.”

As compensation, subject to TSX-V approval of the Agreement, GoldQuest will grant the Consultant 200,000 stock options at an exercise price of $0.31 per share, exercisable for 5 years, with quarterly vesting over 12 months from the date of grant. Additionally, the Consultant will receive a monthly fee of $9,500 plus applicable taxes and pre-approved out-of-pocket expenses. To the Company’s knowledge, the Consultant is arm’s length to the Company and does not have a material interest in the securities of the Company, other than the stock options disclosed above. The Consultant’s offices are located in North Vancouver, British Columbia.

About GoldQuest

GoldQuest is a Canadian based mineral exploration and development 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.

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 receipt of TSX-V approval of the Agreement, and the services to be provided by the Consultant. In certain cases, forward‐looking statements can be identified by the use of words such as "plans", “looks forward”, "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 the implementation, application and interpretation of the recent changes to the Dominican Republic’s environmental regulations; risk related to the ability of the Company to advance and complete a Feasibility study, Environmental and Social Impact Assessment and other studies on the Romero project; economic and political conditions globally and in the Dominican Republic; 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.

For further information, please contact:

Luis Santana, Chief Executive Officer 1 (809) 224-0629lsantana@goldquestcorp.com

Daniel G. McIntyre, Investor Relations1 (604) 488-9818dmcIntyre@goldquestcorp.com

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.