GoldQuest Provides Update on Drilling and Exploration Activities at Romero Gold-Copper Project, Dominican Republic

03.02.2026  |  Newsfile

Vancouver, February 3, 2026 - GoldQuest Mining Corp. (TSXV: GQC) (OTCQX: GDQMF) ("GoldQuest" or the "Company") is pleased to provide an update on its ongoing 2025-2026 drilling and metallurgical testwork program at the 100%-owned Romero Gold-Copper Project in the Dominican Republic.

• The Company has successfully completed the metallurgical drill program: 5 metallurgical drillholes totalling 1,906 metres; ~1,600 m of representative core selected from all holes for advanced locked-cycle and variability testwork at ALS Kamloops, with first results expected in March 2026 and the final report by late April/early May 2026.

• Geotechnical and hydrogeological drilling advancing on schedule: 8 dedicated geotech holes (~2,700 m), of which 3 were completed and 3 are ongoing, and 10 hydrogeological holes (6 completed, 3 in progress) all to be finished by February 2026 to support Feasibility Study engineering design.

• Drilling started in early January at the Cachimbo discovery target, with the first hole currently at 450 metres, with a planned target depth of 500 metres. This program aims to delineate a Mineral Resource and test additional targets along the Romero-Cachimbo corridor.

• Geophysics Program Underway: A new ground geophysics program has commenced to further refine exploration targets. The program consists of Gradient Array Induced Polarization (IP) surveys and Pole-Dipole Induced Polarization (PD-IP) surveys.

Since beginning the program in September 2025, the Company has completed five metallurgical drill holes totaling 1,906 metres and three dedicated geotechnical holes totaling 1,270 metres (see Figure 1). This data will support the continued development of the underground mining design.

In parallel, three additional drill rigs continue with a geotechnical and hydrogeological drilling program at the planned plant, waste dump, tailings facility areas, and critical infrastructure (Figure 1). This campaign has been updated to eight dedicated geotechnical holes (approximately 2,700 metres in total) and ten hydrogeological holes (6 completed and 3 ongoing) and is on schedule for completion by February 2026. Data from these holes will support detailed engineering design for the Feasibility Study.

Luis Santana, CEO of GoldQuest Mining Corp., commented: "We are advancing efficiently on all fronts. With metallurgical samples now at the lab and the drill bit turning at Cachimbo, we remain on schedule to deliver our Feasibility Study milestones while simultaneously exploring the district's potential."

Figure 1: Drill Progress at Romero

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At Cachimbo, drilling of hole TIR-26-57 began in early January and has now reached 450 metres, with a target depth of 500 metres. The program seeks to define a Mineral Resource and test new targets along the Romero-Cachimbo corridor (Figure 2).

Core samples from TIR-26-57 contain sections with disseminated pyrite, chalcopyrite, barite, and sphalerite in veinlets (Figure 3), similar to mineralization encountered in previous holes at this target. Cutting and sampling are currently in progress, with assay results anticipated by early March.

Figure 2: Drill Progress at Cachimbo

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Figure 3: Core from hole TIR-26-57 a: 183.6 m depth. b: 258 m depth.

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Additionally, a geophysics program is currently in progress. Commenced on January 27, a new ground geophysics plan aims to further delineate exploration targets and support drill planning along the aforementioned corridor. The scope of this program includes Gradient Array Induced Polarization (IP) surveys, which will be supplemented with Pole-Dipole Induced Polarization (PD-IP) surveys in zones where anomalies are identified. The plan consists of:

• A first stage of Gradient Array Induced Polarization (IP) to complete the cover in the brownfield targets around the Romero deposit, and

• A second stage targeting the Cachimbo trend, with the objective of improving the upcoming drill program at the greenfield targets Cañada La Vaca and Los Ganchos.

Qualified Person

The scientific and technical information in this press release has been reviewed and approved by Leandro Sastre, P. Geo., VP of Exploration of GoldQuest and a Qualified Person for the technical information in this press release under NI 43‐101-Standards of Disclosure for Mineral Properties.

About GoldQuest

GoldQuest Mining Corp. is a Canadian exploration and development company with strong participation from Dominican investors, focused on advancing its gold and copper assets in the Dominican Republic. The Company has a Board of Directors and management team with prior experience developing and operating a mine in the country.

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

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

"Luis Santana"

Director & CEO

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, the Feasibility Study and engineering studies in support thereof, the mobilization of drill rigs, mineral resources at Romero and Romero South, the merits of the Company's mineral properties, future drill programs and studies and the Company's plans and exploration programs for its mineral properties, including the timing of such plans and programs. 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", "aims", "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.

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