=======================================================================
Re: News Release - Friday, August 14, 2009
Goldquest Recieves Tsx Approval For Gold Fields Transaction
=======================================================================
VANCOUVER, BC, AUGUST 14, 2009 -- Further to its news release of August
5, 2009, GoldQuest Mining Corp. (the "Company") is pleased to announce
that it has received approval from the TSX Venture Exchange of the
purchase agreement with Gold Fields Dominican Republic BVI Limited
("Gold Fields") to acquire, among other things, Gold Fields' 60%
interest in its exploration portfolio in the Dominican Republic. The
Company is currently working on the administrative requirements to get
the various claims comprising the portfolio transferred to its
subsidiary, pursuant to the laws of the Dominican Republic. Upon
confirmation of such transfer, the Company will proceed to close the
transaction with Gold Fields.
Additionally, further to the Company's news release of March 30, 2009
regarding the acquisition of the shares of Lundin Mining Exploration
S.L. ("Lundin SL"), the Company anticipates that upon the conditions
precedent to the completion of the acquisition being fulfilled, the
Company will proceed to close the transaction.
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.
=======================================================================
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
=======================================================================
.
<
|
Goldquest Mining Corp.
|
|
EXPLORATION STAGE |
CODE : GQC.V |
ISIN : CA38144C1005 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Goldquest Mining is a gold exploration company based in Canada. Goldquest Mining holds various exploration projects in Dominican Republic. Its main exploration properties are CERRO DORADO, PIEDRA IMÁN, JENGIBRE, LOS COMIOS, LAS TRES PALMAS / SAN JUAN, EL TORO, LOMA VIEJO PEDRO, SANTA ANA, LAS ANIMAS and LA ESCALANDOSA in Dominican Republic and TORAL in Spain. Goldquest Mining is listed in Canada and in Germany. Its market capitalisation is CA$ 53.9 millions as of today (US$ 39.7 millions, € 35.8 millions). Its stock quote reached its lowest recent point on May 18, 2012 at CA$ 0.04, and its highest recent level on August 24, 2012 at CA$ 2.03. Goldquest Mining has 215 730 000 shares outstanding. |