GQC GoldQuest Mining Corporation

GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) ("GoldQuest"
or the "Company") is pleased to announce the start of a 3,000 meter program
consisting of fifteen diamond drill holes on its 100% owned La Escandalosa
Concession, in the San Juan province of the Dominican Republic.


The program will be focused on testing the northern and southern extensions of
the known mineralization at La Escandalosa Sur, including certain new targets
determined based on the combination of favourable geology, hydrothermal
alteration, and a ground geophysical corridor of high chargeability and low
resistivity (IP anomalies). This corridor extends for at least three kilometres
in a North - South direction and is also in concordances with low magnetic
responses which have been interpreted as the most prospective areas for
intercepting gold mineralization. The drill program is based on the recent
integration, interpretation and modelling of the different exploration tools
applied to the project area. This drill program will also be used to update and
upgrade the NI 43-101 compliant inferred resource of 4.86 million tonnes grading
2.60 g/t gold at 0.3 g/t cut off published by the company on November 9th, 2010.


Julio Espaillat, GoldQuest's President and CEO, commented, "Testing the new
targets at La Escandalosa may significantly enhance the potential of the project
which through previous drilling returned excellent results. The best drill holes
for the previous results were 53.0m @ 3.02 g/t gold, including 16.0m @ 9.39 g/t
gold in hole LTP-41 at Escandalosa Sur (as previously released on PR of July 6,
2010) and 29.0 m @ 2.18 g/t gold, including 17.0 m @ 3.45 g/t gold in hole
LTP-065, at the Hondo Valle zone, located 1.2 kilometres to the North of
Escandalosa Sur (as previously published on PR of May 16, 2011). Both of these
zones are located within the same 3.5 kilometer long corridor of targets."


Goldquest Mining Corp. and Energold Drilling Corp. signed a diamond drilling
contract to carry out a 3,000 meter drill program at the La Escandalosa property
starting February 22, 2012. An IP map showing the location of the first eleven
holes and previous drilling can be displayed via
http://www.goldquestcorp.com/images/DrillTargetsFeb2012.jpg.


We are pleased to discuss details with our shareholders by phone or in person
and are very excited to get the drills turning again. We are committed to taking
the right steps to move our project forward.


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
arrangements with two other companies.


The information in this press release has been approved by Mr. William Fisher,
P. Geo., a qualified person for the technical information in this press release
under NI 43-101 standards and the chairman and a director of GoldQuest Mining
Corp.


On behalf of the Board of Directors,

Julio Espaillat, President & Chief Executive Officer

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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