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Re:   News Releases - Thursday, May 07, 2009
      Goldquest Reports Mineral Resource For Las Animas Massive
      Sulphide Project
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VANCOUVER, BC, MAY 7, 2009 - GoldQuest Mining Corp. ("GoldQuest" or the
"Company") is pleased to report the initial NI 43-101 compliant mineral
resource estimate on its 100% owned Las Animas project located in the
central Dominican Republic.

HIGHLIGHTS
- Total indicated plus inferred mineral resource of 1.63 million tonnes
grading 2.46 g/t Au, 2.94% Cu, 3.60% Zn and 48.2 g/t Ag, containing
128,542 ounces Au, 106 million lb Cu, 129 million lb Zn, and 2.52
million ounces Ag;
 
- Includes an indicated mineral resource of 1.00 million tonnes grading
2.95 g/t Au, 2.70% Cu, 3.36% Zn and 58.6 g/t Ag containing 95,185 oz
Au, 60 million lb Cu, 74 million lb Zn, and 1.90 million oz Ag;
 
- Includes an inferred mineral resource of 0.62 million tonnes grading
1.66 g/t Au, 3.32% Cu, 3.99% Zn and 31.4 g/t Ag containing 33,357
ounces Au, 0.6 million ounces Ag, 46 million pounds Cu and 55 million
pounds Zn; and

- The mineral resources are open at depth.

Mr. Alistair Waddell, President & CEO of GoldQuest, commented, "The
completion of this initial resource calculation for the El Yujo massive
sulphide deposit in the Las Animas project is a significant step
forward for the project and the Company.  The resource is still open at
depth and the Company continues to explore other new targets along
strike and in the district including the Guazumitas area where
anomalies have been defined by surface sampling and exploratory
drilling".

The tables below give a summary of the indicated and inferred mineral
resource estimate for the El Yujo massive sulphide deposit which was
calculated following the CIM definition standards.  El Yujo is a single
vertical to steeply dipping body with a strike length of 130 m, true
width of 6.3 m average (0.9 to 23.0 m), and is known to a depth of at
least 350 m.  The deposit is open at depth and drilling to 500 m below
surface indicated that mineralization continues in the adjacent
sericite schists, but did not reach the massive sulphide body.  The
resource was modelled on a long section using 20 drill holes, and
weighted average grades were assigned to each block.  Grades were
capped before averaging at 17.5 g/t Au, 380 g/t Ag, 8.0% Cu and 9.0%
Zn.  A specific gravity (SG) of 4.76 was used for sulphides based on
the average of 28 core measurements.  No SG measurements were made for
oxides and a value of 4.0 was used.  The oxide zone is 40 to 65 m deep
and has higher gold and silver grades, but contains only trace copper
and zinc.

                    El Yujo indicated mineral resources
         --------------------------------------------------------------
                           Indicated Mineral Resources
-----------------------------------------------------------------------
            tonnes   Au (g/t)        Ag (g/t)       Cu (%)       Zn (%)
-----------------------------------------------------------------------
Sulfide    908,581      2.62           52.16         2.99          3.71
-----------------------------------------------------------------------
Oxide       96,134      6.02          119.27         0.00          0.00
-----------------------------------------------------------------------
Total    1,004,715      2.95           58.58         2.70          3.36
-----------------------------------------------------------------------
                                 Contained metal
-----------------------------------------------------------------------
                      Au (oz)         Ag (oz)      Cu (lb)      Zn (lb)
-----------------------------------------------------------------------
Total                 95,185       1,892,409   59,887,306    74,314,723
-----------------------------------------------------------------------



                    El Yujo inferred mineral resources
         --------------------------------------------------------------
                           Inferred Mineral Resources
-----------------------------------------------------------------------
            tonnes   Au (g/t)        Ag (g/t)      Cu (%)        Zn (%)
-----------------------------------------------------------------------
Sulfide    623,727      1.66           31.38         3.32          3.99
-----------------------------------------------------------------------
                                 Contained metal
-----------------------------------------------------------------------
                      Au (oz)         Ag (oz)      Cu (lb)      Zn (lb)
-----------------------------------------------------------------------
Sulfide               33,357         629,346   45,683,280    54,830,464
-----------------------------------------------------------------------



              El Yujo total indicated plus inferred resources
         --------------------------------------------------------------
                     Total Indicated + Inferred Resources
-----------------------------------------------------------------------
            tonnes   Au (g/t)        Ag (g/t)      Cu (%)        Zn (%)
-----------------------------------------------------------------------
Total    1,628,442      2.46            48.17        2.94          3.60
-----------------------------------------------------------------------
                                 Contained metal
-----------------------------------------------------------------------
                      Au (oz)          Ag (oz)     Cu (lb)      Zn (lb)
-----------------------------------------------------------------------
                     128,542        2,521,755  105,570,586  129,145,186
-----------------------------------------------------------------------

The indicated and inferred mineral resources were defined as follows:

- Indicated mineral resources are blocks with at least 1 drill
intersection based on at least 3 assays, a minimum true width of 0.9 m,
projection up to 20 m horizontally and 36 m vertically from the limit
of the intersection.
 
- Inferred mineral resources are blocks projected adjacent to indicated
blocks and below the indicated mineral resource for a reasonable
distance based on geological modeling.

There are currently no measured mineral resources or mineral reserves.
Mineral resources which are not mineral reserves do not have
demonstrated economic viability.  There are no apparent technical,
environmental, permitting, legal, title, taxation, social, political,
marketing or other relevant issues that could materially affect the
estimation of mineral resources.

The technical report entitled "Mineral Resource Estimate for the Las
Animas Project, Province of La Vega, Dominican Republic" dated May 4,
2009 describing the resource estimate has been filed on SEDAR and is
available for viewing under GoldQuest's issuer profile at
www.sedar.com.

About GoldQuest

GoldQuest is a Vancouver based exploration company with projects in the
Dominican Republic and Spain.  Through a combination of regional
grass-roots generative exploration and new geological models the
Company has built a portfolio of new projects.  GoldQuest is traded on
the TSX-V under the symbol GQC.V and in Frankfurt / Berlin with symbol
M1W.

The resource estimate was prepared by Dr Stewart D. Redwood, FIMMM,
Consulting Geologist, who is the qualified person as defined by
National Instrument 43-101.  He has reviewed and approved the content
of this news release.

For further information please contact:

Alistair Waddell
President & Chief Executive Officer

Dan Maarsman
Investor Relations -- Vancouver, Canada
Tel: +1-604-632 4333

www.goldquestcorp.com
investorrelations@goldquestcorp.com

On behalf of the Board of Directors "signed" Alistair H. Waddell

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:

This news release contains certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical fact, that address events or developments
that GoldQuest expects to occur, are forward looking statements.

Forward looking statements are statements that are not historical facts
and are generally, but not always, identified by the words "expects",
"plans", "anticipates", "believes", "intends", "estimates", "projects",
"potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur.  Although GoldQuest
believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees
of future performance and actual results may differ materially from
those in forward looking statements.  Factors that could cause the
actual results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration success,
continued availability of capital and financing and general economic,
market or business conditions.  Investors are cautioned that any such
statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the
forward-looking statements.  Forward looking statements are based on
the beliefs, estimates and opinions of GoldQuest's management on the
date the statements are made.  GoldQuest undertakes no obligation to
update these forward-looking statements in the event that management's
beliefs, estimates or opinions, or other factors, should change.

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Copyright (c) 2009 GOLDQUEST MINING CORP. (GQC)  All rights reserved.
For more information visit our website at http://www.goldquestcorp.com/
or send mailto:investorrelations@goldquestcorp.com
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