GQC GoldQuest Mining Corporation

GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W) ("GoldQuest" or the
"Company") is pleased to announce the granting of the Lago Investigation Permit
(exploration concession) in the eastern part of Galicia, Spain to GoldQuest
Iberica, a wholly-owned subsidiary of the Company. The Lago property is the
first permit granted of three highly prospective applications by GoldQuest
Iberica to the Autonomous Government of Galicia. An interest in the Lago
property was first acquired by the Company pursuant to an acquisition agreement
dated November 30, 2009 and as disclosed by the Company in a press release dated
January 15, 2009. The Lago permit is located approximately 54 kilometers to the
Northeast of the Lead, Zinc and Silver sedimentary hosted mineralization on
GoldQuest's Toral property, where the Company, in a press release dated March 2,
2011, reported a National Instrument 43-101 compliant mineral resource of:




--  An indicated mineral resource of 4.04 million tonnes grading 5.30% lead
    (Pb), 6.50% zinc (Zn), and 41 g/t silver (Ag), containing over 470
    million pounds Pb, 577 million pounds Zn, and 5.3 million oz Ag. 

--  An inferred mineral resource of 4.67 million tonnes grading 4.44% Pb,
    5.40% Zn and 32.0 g/t Ag containing over 456 million pounds Pb, 555
    million pounds Zn, and 4.8 million ounces Ag. 



A cut-off grade of 7.0% of combined Pb and Zn was used to define the Toral
mineral resources. Mineral resources that are not mineral reserves do not have
demonstrated economic viability. The resource estimate and corresponding
technical report dated April 14, 2011 were prepared by independent consultants,
Micon International Co Inc., and were prepared using CIM definitions for mineral
resources as required by NI 43-101. 


"We are pleased to receive this Investigation Permit from the Government of
Galicia, as it allows GoldQuest to create critical mass in the region and
further enhance the company base metal portfolio in Spain," commented Julio
Espaillat, the President and CEO. 


The concession location can be seen on a map on the Company's website at
www.goldquestcorp.com. GoldQuest's compilation of the unproven and unverified
historical data of investigations completed by EXMINESA between 1985 and 1990,
indicated that mineralization at Lago is similar to the Company's Toral
property. The mineralized horizons at Lago are hosted by detritic volcano
sedimentary units of Paleozoic age, folded by a syncline structure, which is
disrupted by vertical faulting sub parallel to the regional deformation.
Estimate mineralization reported by EXMINESA can be traced by approximately
1,375 meters parallel to the axe of the syncline. The results reported by
EXMINESA range from 3.0 meters of 1.88% combined Pb and Zn to 9.5 meters of
9.54% combined Pb and Zn and 7.50 meters of 14.75% combined Pb and Zn. All such
potential is conceptual in nature, to date there has been insufficient
exploration to define a mineral resource, and at this time, it is uncertain if
further exploration will result in the target being delineated as a mineral
resource. 


GoldQuest will initiate a comprehensive detailed mapping, geochemical sampling
and ground geophysical program to define both infill drilling and new targets
that may warrant drilling in the vicinity of the known hydrothermal lead and
zinc mineralization that remains open along the strike and at depth. Proposed
investigations will better define the mineral potential of the property and the
regional trend of the mineralized horizons.


On behalf of the Board of Directors,

Julio Espaillat, President & Chief Executive Officer

About GoldQuest

GoldQuest is a Vancouver based mineral exploration company with projects in
Spain and the Dominican Republic, traded on the TSX-V under the symbol GQC.V and
in Frankfurt / Berlin with symbol M1W, with 103,508,601 shares outstanding. The
recent trading range has been C$0.19 to C$0.40. 


The qualified person for the technical information in this press release for the
purposes of National Instrument 43-101, is Mr. William Fisher, P. Geo. Mr.
Fisher is a Director of GoldQuest. 


Forward-looking statements:

This news release contains certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical fact, that address events or developments that
GoldQuest expects to occur, are forward looking statements.


Forward looking statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects", "plans",
"anticipates", "believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur. Although GoldQuest believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual
results may differ materially from those in forward looking statements. Factors
that could cause the actual results to differ materially from those in
forward-looking statements include market prices, exploitation and exploration
success, continued availability of capital and financing and general economic,
market or business conditions. Investors are cautioned that any such statements
are not guarantees of future performance and actual results or developments may
differ materially from those projected in the forward-looking statements.
Forward looking statements are based on the beliefs, estimates and opinions of
GoldQuest's management on the date the statements are made. GoldQuest undertakes
no obligation to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change,
except as required by law.

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