GoldQuest: Injunction Against the Company in the Dominican Republic Has No Effect on Activities
GoldQuest: Injunction Against the Company in the Dominican Republic Has No
Effect on Activities
VANCOUVER, British Columbia, April 16, 2018 -- GoldQuest Mining Corp. (TSXV:GQC) (FRANKFURT:M1W) (BERLIN:M1W)
("GoldQuest" or the "Company") reports that it has received the written decision of the Penal Chamber of the First Instance
Court of the Judicial District of San Juan de la Maguana (the “Court”) in response to a Constitutional Injunction “Remedy” filed
by a local Dominican group against GoldQuest Dominicana SRL, the Company’s wholly owned subsidiary. Upon review of the
written decision, Luis Pellerano of Pellerano & Herrera, the Company's legal counsel in the Dominican Republic, stated “The
judgment simply restates the existing legal requirements under present Mining Law 146 and hence has no effect on the
operations of the Company or its plans going forward. The judgment only requires the Company to obtain the required permits
to move into the exploitation phase, which was already the case.”
The injunction is limited to the Exploitation Permit Application for the Romero Concession (“Romero”) and does not relate to
the Company’s exploration licenses.
At Romero, the Company effectively ceased operations in November 2015 at the time of its application for a mining exploitation
concession, as under Mining Law 146 (the “Mining Law”) no work can be carried out on Romero until an Exploitation License
has been granted by the Ministry of Energy and Mines. Further detailed studies on Romero will only be carried out by the
Company once Terms-of-Reference for a thorough Environmental and Social Impact Assessment (“ESIA”) have been issued by
the Ministry of Environment and Natural Resources, a process that can only begin with the issuance of the Exploitation
License. No substantial development activities can begin until the Company has completed the ESIA, and subsequently
received an Environmental License to operate an industrial operation.
“On 22nd January 2018, the Minister of Energy and Mines announced that the Company had fully complied with every
requirement for an Exploitation License under the Mining Law. The Minister sent this application to the Office of the President
for ratification, which the Company eagerly awaits,” commented Bill Fisher, Gold Quest’s CEO. “All activities by GoldQuest
will be carried out under the Mining Law, maintaining international standards and safeguards.”
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.
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 decision of the Court, the interpretation of the decision, the impact of the decision on the Company and its
activities and plans, the Company's plans and expectations with respect to the decision and its mineral properties, including
the timing of such plans, receipt of the Exploitation License and Terms-of-Reference for an ESIA and the timing thereof, and
the activities of the Company in the future. In certain cases, forward-looking statements can be identified by the use of words
such as "plans", “seeking”, "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 regarding the Court decision; the interpretation of the Court decision; and the implications of the
decision on the Company and its activities and plans; uncertainties related to receipt of the Exploitation License and ESIA; the
Company's ability to continue as a going concern; risks inherent in mineral exploration; risks related to operations in foreign
countries; delays in obtaining governmental approvals; government regulation of mining operations; environmental risks 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 the interpretation and
implications of the decision of the Court; the receipt of the Exploitation License and ESIA; 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 Corp.
Bill Fisher
Executive Chairman and CEO
+1-647-271-4505
Red Cloud KS
Chad Williams/Sebastian de Kloet
Investor Relations
1-877-919-5979