GoldQuest Announces Retirement of CEO Julio Espaillat, Executive Chairman Bill Fisher Assumes CEO role
GoldQuest Announces Retirement of CEO Julio Espaillat, Executive Chairman Bill
Fisher Assumes CEO role
VANCOUVER, BC‐‐(Marketwired – September 1st 2017) ‐ GoldQuest Mining Corp. (TSX VENTURE: GQC)
(FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") today announced the retirement
of the CEO, Mr. Julio Espaillat effective on the occasion of his 60th birthday, September 12, 2017. Mr.
Espaillat will remain on the board of GoldQuest, and will continue to offer guidance and direction to the
management. Going forward, the Company’s Executive Chairman Bill Fisher will assume the role of CEO.
Mr. Espaillat has been active in the Dominican Republic’s mining and exploration communities for 35
years and joined GoldQuest as CEO in 2011. He was instrumental in guiding the company to the gold
discoveries at Romero and more recently, at Cachimbo. He also has been the driving force behind the
process for the Romero PEA, Pre‐feasibility studies and permitting in collaboration with Dominican
authorities.
Day‐to‐day in country operations will continue under the Company’s Country Manager, Mr. Felix
Mercedes. Mr. Mercedes joined the Company in September 2006, and has run operations ever since. He
graduated in 1987 in Geology and Mining Engineering from PUCMM University, Santiago and completed
an MBA from INTEC University, Santo Domingo in 2001. He has extensive exploration, management and
permitting experience, having worked in for companies such as Energold Exploration, Battle Mountain
and Canyon Resources as well as a stint with the DR government’s Ministry of Mines.
“We wish Julio the very best wishes for a happy retirement,” commented Bill Fisher, GoldQuest’s
Executive Chairman. “The board will continue to have access to his valuable insight as we advance
steadily through the permitting processes toward eventual development and mining. As we move
forward the company will benefit from Felix’s wealth of experience managing our projects over a decade
within the GoldQuest family. His experience offers continuity to the operations, and we look forward to
the next chapter of the Company’s development, for both mining and exploration.”
The information in this press release has been reviewed and approved by Mr. Jeremy Niemi, P. Geo.,
Vice President, Exploration 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.
GoldQuest is traded on the TSX‐V under the symbol GQC and in Frankfurt/Berlin with symbol M1W, with
254,007,384 shares outstanding (291,057,724 on a fully diluted basis) as at the date of this 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 2015 drill program, the results of
the drill program and the interpretation of the results of the drill program, further drilling, the timing of
drilling and assay results, mineral resource estimates, 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", "has proven", "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.
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.
CONTACT INFORMATION
GoldQuest Mining Corp.
www.goldquestcorp.com
Bill Fisher
Executive Chairman ‐‐ Toronto
+1‐647‐271‐4505
Chad Williams
Investor Relations – Red Cloud KS
1‐877‐919‐5979