GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) ("GoldQuest"
or the "Company") is pleased to announce that it has commenced a diamond drill
holes program at its 100% owned Romero Discovery, located on Las Tres Palmas
trend in the Dominican Republic.


The program will focus on testing lateral extensions to the north, south, east
and west of its recent discovery hole LTP-90 (231m grading 2.40 g/t gold),
reported on May 23, 2012, which were posted by the Company under its profile on
SEDAR at www.sedar.com and verified on May 29, 2012. The discovery hole was
located 300 metres from the nearest drill hole and the mineralization is open in
all directions and the drill bottomed in mineralization. The drill rig has been
booked until further notice and future drill locations will be based on a
geophysical report, which will be released shortly, and information generated by
this drill program.


"We are excited that this program will begin to answer questions with regard to
mineralization that may surround the Romero discovery hole." Commented Julio
Espaillat, GoldQuest President and CEO, "We are committed to continue a
systematic approach of testing the system in a cost effective manner."


GoldQuest Mining Corp. and Energold Drilling Corp. have entered into a diamond
drilling contract for Las Tres Palmas property starting June 8th, 2012. This
phase of drilling is expected to continue into July and further drilling plans
will be announced sequentially.


GoldQuest Mining Corp. also announces that the Company has granted an additional
aggregate of 50,000 incentive stock options (the "Options") to employees of
GoldQuest on June 6, 2012 with an exercise price of $0.70 per share. The Options
are exercisable for a five-year period from the date of grant and will vest as
follows: 1/4th on the three month anniversary from the date of the grant; 1/4th
on the six month anniversary from the date of the grant; 1/4th on the nine month
anniversary from the date of the grant; and the remainder 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
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.


About GoldQuest

GoldQuest is a Vancouver 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 the symbol M1W, with 110,583,601 shares outstanding and 126,443,601
on a fully diluted basis.


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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