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Drilling summary for 2012

The three rigs at Las Tres Palmas have halted for the Christmas break and will resume in early January 2013. Since the announcement of the discovery at Romero on 23rd May 2012, by LTP 90 (231 metres grading 2.4 g/t gold and 0.4 % copper), thirty-two holes have been completed within the Romero area, which represents approximately 20% of the Las Tres Palmas trend. Assays from twenty-three holes have already been reported (see prior press releases of GoldQuest) and assays from the remaining nine holes of the 2012 program will be reported in early January 2013 (see 2012 drill summary at http://www.goldquestcorp.com/pdf/LTP_Reported_Assay_Results.pdf, plan map http://www.goldquestcorp.com/images/mapwithholes.jpg, and the Companies up to date Romero UTMS table at http://goldquestcorp.com/images/Phase_VII.xlsx).

The information in this press release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., the Director, Technical Services of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards.

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 143,980,044 shares outstanding (154,856,568 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. Such forward-looking statements include the ability of the company to proceed with the expected IP survey and drill programs. 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 exploitation and exploration success, differing results from re-assays or other analytical procedures with respect to the drill results, continued availability of capital, financing and required resources (such as human resources, equipment and/or other capital resources) 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.



Contacts:
GoldQuest Mining Corp.
Julio Espaillat
President & Chief Executive Officer
+1-829-919-8701
jespaillat@goldquestcorp.com

GoldQuest Mining Corp.
Sebastian de Kloet
Investor Relations - Toronto
+1-416-214-9151
+1-866-276-8954 (FAX)
investorrelations@goldquestcorp.com
www.goldquestcorp.com