GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) ("GoldQuest"
or "the Company") is pleased to publish a geophysical report that covers the Las
Tres Palmas project in the Dominican Republic. The report, authored by
geophysicist Brian J. Last, has been updated and expanded from a previous report
in light of new drilling information. This report allows the geophysical data to
be viewed in the context of mineralization from recent drilling.


"Brian Last has shown that the chargeability and conductivity data collected can
add valuable insight into geophysical signatures surrounding the mineralization
found at the Romero discovery," commented Julio Espaillat, GoldQuest's President
and CEO, "Drilling is underway within a 700 m x 500 m area of interest."


The information reviewed was collected in a Quantec Induced Polarization (IP)
survey carried out last year for GoldQuest (see release of 24th August 2011),
and was used for the selection of sites in the last drill program along with
information from geological mapping, geochemistry, and previous drill programs.
Following an analysis of the information to date, the report recommends a drill
program to investigate anomalies in the vicinity of LTP 90, a drill hole that
returned 231 metres grading 2.4 g/t gold and 0.44% copper (see release of May
29, 2012). The report shows interpretation of the anomalies at a 283 metre
depth, and shows coherent anomalies in the Las Tres Palmas structural corridor
and also a chargeability anomaly in the north east of the survey, at zone 3/5
(see www.goldquestcorp.com/images/projects/escandalosa/Fig_1_LE_IP_283m_a.jpg
where LTP 90 is within the northern anomaly marked "2"). The company is
reviewing the recommendations, and will announce locations of future drill sites
which will be based in part on previous geological information along with Dr.
Last's recommendations, and partly on ongoing interpretation of results from the
Company's new drill program announced on June 8th, 2012.


Brian Last also recommends further geophysical surveys which the Company will
also review.


The report is posted on the company's website:

www.goldquestcorp.com/images/pdf/LE_report_2_rev.pdf

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.


About GoldQuest

GoldQuest is a Vancouver based mineral exploration company with projects 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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