GoldQuest Reports New High-Grade Polymetallic Massive Sulphide Discovery at Cachimbo Target, Dominican Republic

Vancouver, British Columbia--(Newsfile Corp. - March 23, 2026) - GoldQuest Mining Corp. (TSXV: GQC) (OTCQX: GDQMF) ("GoldQuest" or the "Company") is pleased to announce results from the ongoing exploration campaign at the Cachimbo target. Drill hole TIR-26-58 has intersected a significant high-grade polymetallic zone, confirming a new mineralized parallel structure located to the northeast of the known Cachimbo mineralized zone.

The intercept returned high-grade values for gold, silver, copper and zinc, with a notable high-grade core of 3.59 metres grading 17.63 g/t AuEq. This discovery represents the first major drill success at Cachimbo following the resumption of drilling after a nine-year hiatus and identifies a new target for additional drill testing.

• TIR-26-58: 12.26 m @ 2.52 g/t Au, 50.7 g/t Ag, 0.94% Cu & 12.0% Zn from 104.5 m depth.
• High-Grade Core: Including 3.59 m @ 5.74 g/t Au, 128.88 g/t Ag, 2.18% Cu, and 27.6% Zn.
• New Structure: The intercept confirms a new mineralized parallel structure, significantly expanding the potential footprint of the Cachimbo discovery.
• Open at Depth: Mineralization remains open in multiple directions, with further drilling planned to test the continuity of this new zone.
• Geophysics Program Underway: A Pole-Dipole Induced Polarization (PD-IP) survey is being executed to improve drill targeting.

Hole TIR-26-58 was positioned to test a structural offset identified through recent detailed structural re-interpretation. The mineralization is hosted within a sequence of lithic and mafic tuffs, characterized by massive to semi-massive sulfide assemblages.

The presence of high-grade copper (2.18% Cu) silver (128.88 g/t Ag) and zinc (27.61% Zn) within the core of this intercept confirms that the new parallel structure is a high-tenor polymetallic system. This second structure significantly expands the potential volume of the Cachimbo target, as it remains open along strike and down-dip. Table 1 below shows a detail of the intercepts and grades.

Table 1: Results from hole TIR-26-58

*Interval grades are calculated using uncapped assays. Gold values did not exceed 21.9 g/t which is below the capping level for Romero of 72.2 g/t. Intervals may not represent true widths. There is insufficient drilling to determine the exact orientation of the mineralized zones at this time. AuEq was calculated by using metal prices of Au US$ 3,450/ounce, Cu US$ 5.1/pound, Ag US$ 37.4/ounce, Zn US$ 3,280/ton and Pb US$ 1,920/ton. No metal recoveries utilized.

Exploration at Cachimbo is ongoing. While the initial results for TIR-26-58 are encouraging, assays for the second half of the hole remain pending and are expected shortly.

Furthermore, drilling of holes TIR-26-57 and TIR-26-59, which targeted the down-dip extension of the primary Cachimbo zone, have been completed. Results from hole TIR-26-57 did not return significant intercepts, while results for hole TIR-26-59 are currently pending laboratory analysis. The rig has now transitioned to TIR-26-60, targeting deep extension of Cachimbo.

Figure 1 below shows a plan view with the current progress. We have now completed a total of 3 drillholes for 1,145 metres of the 5,000 metre-program. Figure 2 shows a NE trending cross-section, indicated as A-B in the previous map.

Figure 1: Drill Progress at Cachimbo

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1663/289415_72190ba6e4c6da5b_001full.jpg

Figure 2: Cross Section A-B. Results from previous drilling are available at GoldQuest's website. 

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In addition to the drilling, a new PD-IP survey is now being carried out. Two lines are already completed, and results shows a good correlation between low and high chargeability contrast and mineralization, especially at the newfound VMS structure. We look forward to integrating this newly generated data to further refine our exploration of the Cachimbo target.

Luis Santana, CEO of GoldQuest Mining Corp., commented: "The discovery of a high-grade parallel structure at Cachimbo after nine years is a testament to our team's systematic approach to exploration in the Tireo Bel. These initial results from TIR-26-58 underscore the polymetallic potential of the district and suggest that Cachimbo is a much larger system than previously understood."

QA-QC

As part of the Company's Quality Assurance and Quality Control procedures (QA/QC) the Company reviews results from Certified Standard Reference materials (theStandards), which are inserted at a rate of five per 100 samples. Within the results disclosed herein there were no samples with results outside of the recommended tolerances for the Standards. In GoldQuest's drill programs, composite intervals were chosen using a combination of geological criteria and mineralization, averaging around two metres core length. The drill core is cut in half with one half of the core sample shipped to Bureau Veritas Labs by GoldQuest technicians. The remaining half of the core is kept at the Company core shack for future assay verification, or any other further investigation. Assays within intervals below the 0.005 g/t detection limit for Au were given a 0.0025 g/t value. All drill samples were prepared and screened by ACME Labs (Vancouver); metallic fire assay and multi?element ICP?MS were assayed by Bureau Veritas Laboratories (Vancouver). Gold values are determined by standard fire assay with an AA finish, or, if over 10.0 g/t Au, were re?assayed and completed with a gravimetric finish. Copper and zinc values exceeding 0.2% were re-assayed with a 4-acid digestion and AAS finish. When zinc values exceeded 10% a classic titration was carried out for zinc. QA/QC included the insertion and continual monitoring of numerous standards, blanks and duplicates into the sample stream, at random intervals within each batch. The comprehensive GoldQuest QA/QC procedures can be viewed on GoldQuest's website at:
https://www.goldquestcorp.com/index.php/corporate/corporate-governance

Qualified Person

The scientific and technical information in this press release has been reviewed and approved by Leandro Sastre, P. Geo., VP of Exploration of GoldQuest and a Qualified Person for the technical information in this press release under NI 43?101-Standards of Disclosure for Mineral Properties.

About GoldQuest

GoldQuest Mining Corp. is a Canadian exploration and development company with strong participation from Dominican investors, focused on advancing its gold and copper assets in the Dominican Republic. The Company has a Board of Directors and management team with prior experience developing and operating a mine in the country.

Additional information can be viewed at the Company's website www.goldquestcorp.com.

On Behalf of the Board of Directors of GoldQuest Mining Corp.,

"Luis Santana"

Director & CEO

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:

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 past drill programs, the results of such drill programs and the interpretation of the results of the drill programs, further drilling, the timing of drilling and assay results, mineral resources the merits of the Company's mineral properties, future drill programs and studies, the Company's plans and exploration programs for its mineral properties, including the timing of such plans and programs, the Company's belief that Dominican Republic authorities will support the development of the Romero gold-copper project, and the allocation of funds for the BFS and the 2025-2026 Program. In certain cases, forward?looking statements can be identified by the use of words such as "plans", "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.

For further information, please contact:

Luis Santana, Chief Executive Officer
1 (809) 224-0629
lsantana@goldquestcorp.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289415