JV To Restructure Dominican Exploration Agreement 

VANCOUVER, BC - GoldQuest Mining Corp. reported that the Company has been given notice by Gold Fields Dominican Republic BVI Limited that it has earned its 60% interest in select GoldQuest exploration projects by completing the required US$5,000,000 of expenditures. GoldQuest is in the process of verifying the expenditure figures provided to it by Gold Fields. Gold Fields also informs the Company that it is reviewing its future expenditures and intends to explore further options in regards to its interest in the Dominican Joint Venture beyond January 2009. As a major shareholder of GoldQuest, Gold Fields is working with the Company to identify the best way to further advance these projects. One option being considered is to allow GoldQuest to acquire back up to a 100% interest in the projects and advance the new discoveries found by the Gold Fields funded programme. Negotiations between Gold Fields and the Company are ongoing. The GoldQuest Board believes that this portfolio along with a comprehensive database of stream sediment samples, rock samples, soil samples and drill data has value over and beyond those funds expended by Gold Fields and may seek third party alternatives to fund future work. The company's address is Suite 720 - 700 West Pender Street, Vancouver, BC V6C 1G8, (604) 632-4333, fax: (604) 608-4804, email: [email protected].