GQC GoldQuest Mining Corporation

GoldQuest Mining Corp. (TSX VENTURE:GQC)(BERLIN:M1W)(FRANKFURT:M1W) ("GoldQuest"
or the "Company") announces that Company has granted an aggregate of 2,830,000
incentive stock options (the "Options") to directors, officers and employees of
GoldQuest. 2,660,000 Options were granted on May 31, 2012 with an exercise price
of $0.56 per share and an additional 170,000 Options were granted on June 1,
2012 with an exercise price of $0.68 per share. The Options are exercisable for
a five-year period from the date of grant and will vest as follows: 1/3rd at the
date of the grant; 1/3rd on the 6 month anniversary from the date of the grant;
and the final 1/3rd on the first anniversary from the date of the grant.


The Options are granted pursuant to the Company's stock option plan which was
approved by shareholders at the Company's annual general meeting of shareholders
held on June 30, 2011. The Company's stock option plan and the grant of the
Options is subject to the approval of the TSX Venture Exchange. 


On behalf of the Board of Directors,

Julio Espaillat, President & Chief Executive Officer

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 110,108,601 shares outstanding.

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