GQC GoldQuest Mining Corporation

GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W) ("GoldQuest" or the
"Company") is pleased to announce the start of a 1,200 metre, ten diamond drill
holes program on its 100% owned La Escandalosa Concession, in the San Juan
province of Dominican Republic, which is scheduled to commence November 15,
2011. 


The program will be focused on testing lateral extensions of the southern part
of the known mineralization at La Escandalosa Sur and confirmatory infill
drilling of the same zone. The drill program is based on the recent Block Model
developed by the engineering consultants, Micon International Limited ("Micon"),
and is designed to increase drilling density on the identified mineralization.
GoldQuest further intends the results of the program to be used to upgrade
GoldQuest's current NI 43-101 compliant inferred resources (4.86 million tonnes
grading 2.60 g/t gold at 0.3 g/t cut off), effective November 9, 2010, which was
posted by the Company under its profile on SEDAR at www.sedar.com on November
16, 2010. 


Julio Espaillat, GoldQuest President and CEO, commented, "Drilling at the
southern part of La Escandalosa Sur zone had returned excellent results such as
53.0m @ 3.02 g/t gold, including 16.0m @ 9.39 g/t gold in hole LTP-41
(previously announced in a press release dated July 6, 2010). Following Micon's
recommendations, this drilling is intended to upgrade parts of the known
resource towards the indicated and/or measured categories, and to further expand
the previous estimations." 


GoldQuest Mining Corp. and Energold Drilling Corp. have entered into a diamond
drilling contract to carry out a 1,200 meter drill program at the La Escandalosa
Sur property starting November 15th, 2011. This phase of drilling is expected to
continue into early 2012.


Also the Company recently received the report on the Induced Polarization
survey, completed on the La Escandalosa Project, including Hondo Valle, 1.2 kms
north of La Escandalosa Sur, where the highlights included 29.0 m @ 2.18 g/t
gold, including 17.0 m @ 3.45 g/t gold (Previously published on PR of May 16,
2011). The potential quantity and grade is conceptual in nature, there has been
insufficient exploration to define a mineral resource, and it is uncertain if
further exploration will result in similar results and/or a target being further
delineated as a mineral resource. The 77.75 line kilometers survey covered an
area of approximately 15 square kilometers. The survey delineated three
chargeable zones, being the main zone a North - South corridor of low
resistivity with a delineated extension in excess of 3.5 kilometers and
coincident to the known mineralization. The Company is carrying out ground
follow up, and the results will be presented in subsequent releases. These IP
anomalies open a series of new targets that are anticipated to be tested by
drilling early next year. 


We are pleased to answer the calls of our shareholders and get the drills
turning again. We are committed to taking the right steps to move our project
forward and with interpretation of our Induced Polarization results by Quantec
Geoscience, ongoing Metallurgical testing by Research Development Inc ("RDI")
and our new Block Model by Micon we have been able to do so.


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 the symbol M1W, with 103,508,601 shares outstanding
and 113,576,851 on a fully diluted basis. The company has recently announced two
potential transactions with arm's length parties. 


The qualified person who has approved the technical information in this press
release is Mr. William Fisher, P. Geo. Mr. Fisher is a Director of GoldQuest
Mining Corp.


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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