GoldQuest Announces Board Shuffle, Frank Balint Cycles into Chairman Role

Vancouver, April 29, 2025 - GoldQuest Mining Corp. (TSXV: GQC) ("GoldQuest" or the "Company") today announced that after more than fifteen years of distinguished service, Bill Fisher, the Company's Chairman of Board of Director, will be transitioning out of the Chairmans role but will continue as member of the Board. Current Board member, Frank Balint, will take over the Chairman role in his place. The Company's Board of Directors appointed Mr. Balint as Chairman of GoldQuest Mining effective April 28, 2025.

GoldQuest would like to thank Bill for his longtime stewardship as Chairman going back to 2010 and will continue to rely on his expertise and direction complementing the Board going forward.

Luis Santana, CEO of GoldQuest said, "Bill's leadership has been critical to GoldQuest's endurance and success, and we thank him for his unwavering commitment as Chairman."

During his tenure as Chairman, Mr. Fisher successfully guided the Company through multiple gold discoveries, extensive permitting activities, significant growth and development. His leadership has been instrumental in advancing the Company's flagship projects, expanding its gold resources, and building significant value for shareholders.

Frank has been on the Board of GoldQuest since 2013 and is a seasoned mining executive with over 40 years of broad ranging experience in the mining industry. Mr. Balint has been involved in all aspects of the mining life cycle from exploration, discovery, delineation and estimation of reserves, feasibility, financing, acquisition, development and closure. Mr. Balint possesses strong technical skills backed up by solid financial experience that has resulted in a strong exploration and acquisition track record. As a senior member of the executive team at Inmet for nearly 20 years, he has had significant involvement with shaping, communicating, winning board support and executing a successful corporate strategy that saw Inmet grow from a market cap of less than $200 million to over $5 billion when it was purchased by First Quantum in March of 2013. Mr. Balint was also a former director of Wolfden Resources Inc., a TSX listed company which was sold to Zinifex in 2007 for $363 million.

About GoldQuest

GoldQuest is a Canadian based mineral exploration and development company with projects in the Dominican Republic. GoldQuest is traded on the TSX‐V under the symbol GQC and in Frankfurt/Berlin with symbol M1W. The Company is well funded to carry out the exploration programs reported in this release and to advance the development of its Romero gold/copper discovery, also located in the Tireo Formation of the Dominican Republic.

Additional information can be viewed at the Company's website www.goldquestcorp.com.

On Behalf of the Board of Directors of GoldQuest Mining Corp.,

"Frank Balint"

Chairman of the Board

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.

Forward‐Looking statements:

Statements contained in this news release that are not historical facts are forward‐looking information that involves known and unknown risks and uncertainties. Forward‐Looking statements in this news release include, but are not limited to, statements with respect to the past drill programs, the results of such drill programs and the interpretation of the results of the drill programs, further drilling, the timing of drilling and assay results, mineral resources at Romero and Romero South, the merits of the Company's mineral properties, future drill programs and studies, the Company's plans and exploration programs for its mineral properties, including the timing of such plans and programs, the Company's belief that Dominican Republic authorities will support the development of the Romero gold-copper project, and the allocation of funds for the BFS and the 2025 Program. In certain cases, forward‐looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "potential", "likelihood", "appears", "budget", "scheduled", "estimates", "forecasts", "at least", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved".

Forward‐Looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward‐looking statements. Such risks and other factors include, among others, risks related to uncertainties inherent in drill results and the estimation of mineral resources; commodity prices; changes in general economic conditions; market sentiment; currency exchange rates; the Company's ability to continue as a going concern; the Company's ability to raise funds through equity financings; risks inherent in mineral exploration; risks related to operations in foreign countries; future prices of metals; failure of equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals; government regulation of mining operations; environmental risks; title disputes or claims; limitations on insurance coverage and the timing and possible outcome of litigation. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in forward‐looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward‐looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, do not place undue reliance on forward‐looking statements. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward‐looking statements except as required under applicable securities laws. Forward‐Looking statements are based on assumptions that the Company believes to be reasonable, including expectations regarding mineral exploration and development costs; expected trends in mineral prices and currency exchange rates; the accuracy of the Company's current mineral resource estimates; that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained and that there will be no significant disruptions affecting the Company or its properties.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250102