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Re:   News Release - Wednesday, November 18, 2009
      GoldQuest Completes Transaction with Gold Fields
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VANCOUVER, BC, NOVEMBER 18, 2009 - GoldQuest Mining Corp. ("GoldQuest"
or the "Company") is pleased to announce that it has closed the
transaction with Gold Fields Dominican Republic BVI Limited ("Gold
Fields") as previously disclosed in its news release of August 5, 2009.
 As a result, GoldQuest now holds a 100% interest in its Dominican
portfolio.  Pursuant to the terms of the agreement with Gold Fields,
GoldQuest has issued 8,600,000 common shares to Gold Fields,
representing 12.3% of GoldQuest's issued and outstanding common share
capital.

HIGHLIGHTS

..  GoldQuest has acquired 100% ownership of Dominican portfolio in
   proven mineralised belt;

..  GoldQuest has issued 8.6M shares and granted a 1.25% royalty
   interest to Gold Fields in exchange for its 60% undivided interest
   in the projects; and

..  GoldQuest is currently exploring newly prioritised gold and copper
   targets, following more than 12,900 meters of drilling and
   expenditures exceeding $6 Million by Gold Fields.

Alistair Waddell, President & CEO of GoldQuest, commented, "Gaining
100% ownership and control of the Dominican project portfolio is a
significant milestone for the Company allowing it to freely explore and
advance several key projects to drill stage.  We would like to thank
Gold Fields for its investment in the joint venture and continued
support of GoldQuest's development of the projects as the Company's
largest shareholder."

Gold Fields has invested over CDN$6 Million in the Dominican projects
and completed in excess of 12,900 meters of exploration drilling on
seven different projects.  GoldQuest believes the Gold Fields
exploration programme has provided a solid first pass test of a number
of the projects although many targets remain to be explored in detail.
Analysis of the joint venture data by GoldQuest has identified a number
of exploration areas which host a range of different targets that
require further exploration.

About GoldQuest

GoldQuest is a Vancouver based exploration company traded on the TSX-V
under the symbol GQC.V and in Frankfurt / Berlin with symbol M1W.

On behalf of the Board of Directors,

Alistair H. Waddell
President & Chief Executive Officer

For further information please contact:

Dan Maarsman
Investor Relations -- Vancouver, Canada
Tel: +1-604-632 4333
www.goldquestcorp.com
investorrelations@goldquestcorp.com

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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