Goldquest: Grant of Stock Options

GOLDQUEST: GRANT OF STOCK OPTIONS

VANCOUVER, British Columbia, November 22, 2022 - GoldQuest Mining Corp. (TSXV:GQC, “GoldQuest”

or the “Company”) announces that the board of directors of the Company has authorized the grant of an

aggregate of 200,000 incentive stock options (the “Options”) to certain employees of the Company, at an

exercise price of $0.16 per common share.

The Options are exercisable for a five-year period from the date of grant and will vest as follows: ⅓ on the

date of grant, ⅓ on the six-month anniversary from the date of the grant and ⅓ on the one-year anniversary

from the date of the grant.

The Options are granted pursuant to the Company’s stock option plan , which was most recently approved

by shareholders at the Company’s annual general meeting of shareholders held on June 27, 2022.

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.

For further information, please contact:

GoldQuest Mining Corp.

Luis Santana, Chief Executive Officer

1 (829) 919-8705

Neither the TSX Venture Exchange n or 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.