GoldQuest: DR Minister of Mines approves Exploitation Permit for the Romero Project

VANCOUVER, BC—(Marketwired – January 22, 2018) – GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) (“GoldQuest” or the “Company”) is pleased to report that in a press conference today in Santo Domingo that Minister Isa Conde, the Minister of Energy and Mines (“MEM”) of the Dominican Republic, has completed his review of GoldQuest's Exploitation Permit Application for the Company's 100% owned Romero Project, approved the Application, and sent it to the President of the Republic for ratification. The Minister expressed his full support for the project to go ahead. Exploitation Permits in the Dominican Republic are for 75 years, with a Tax Stability Agreement that freezes the tax treatment for the project for a minimum of 25 years protected under the current Mining Law.

Highlights of the statement, titled “Application for Approval of the Resolution for the Mining Exploitation of ROMERO,” include:

The MEM has evaluated this application and verified that this project has complied with the legal, economic and technical conditions, and is satisfactory in the national interest. This is a highly important project for the Dominican Republic, based on the profitability of the mining activity and the social welfare of the local communities and their development.

The granting of the exploitation concession is conditional on carrying out an Environmental Impact Study, and subsequently obtaining an Environmental License issued by the Ministry of Environment and Natural Resources (MIMARENA).

The State Participation for any economic benefits will be forty percent (40%), taking into account the Royalty, Income Tax and Municipal Contributions, and a Voluntary Contribution that the company has committed to pay to the State, if warranted, under a formula.

The minister expects the Executive Power (Office of the President) to issue its approval and authorization for the granting of the Mining Exploitation Concession.

“We would like to thank Minister Isa Conde for giving his full support to the outstanding Romero gold/copper project,” commented Bill Fisher, GoldQuest's CEO, “We have reached agreement with the Ministry as to the details of sharing the project's benefits in a Win– Win formula under the existing law, where the Project's Net Present Value and Internal Rate of Return remain aligned with previous guidance. The Company is well funded with over $20 million in treasury and, once we receive the formal Exploitation License, we will rapidly advance towards a production decision at Romero, with the first items being the Full Feasibility Study, outlining project financing, and the Environmental Impact Study, coupled with an accelerated exploration program.”

The information in this press release has been reviewed and approved by William Fisher, P. Geo., CEO and Executive Chairman of GoldQuest and a Qualified Person for the technical information in this press release under NI 43‐101 standards.

About GoldQuest

GoldQuest is a Canadian based mineral exploration and development 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. 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.

SERVPRO(R) Extends PGA Tour Sponsorship through 2020

GALLATIN, TN—(Marketwired – January 22, 2018) – SERVPRO has extended its sponsorship with the PGA Tour through the 2020 season, retaining its designation as the official cleanup and restoration company of both the PGA Tour and the Champions Tour according to Sue Steen, Servpro Industries, Inc., chief executive officer. SERVPRO's first event of the 2018 PGA Tour season tees up this week with the Farmers Insurance Open at Torrey Pines Golf Course.

“The entire SERVPRO family is proud to be associated with the prestigious and well–respected PGA Tour,” said Steen. “This sponsorship allows us to showcase our capabilities not only to the communities where PGA events are held, but also to the huge television and online audience that follows the Tour. Both individual property owners and commercial facility owners will have the opportunity to learn about SERVPRO and the services offered as they enjoy watching the world's best players compete on the world's most beautiful golf courses.”

Steen reveals that SERVPRO will have a presence at several PGA Tour tournaments in 2018, including The Players Championship and The TOUR Championship. “In addition, we plan to be involved with First Responder events throughout the PGA Tour year,” said Steen.

“SERVPRO is a national leader and provider of fire and water cleanup and restoration services, but each SERVPRO Franchise is a local business, operated by a local business person with ties to the community he or she serves,” says Steen. “The wide and growing audience the PGA Tour commands will learn a SERVPRO professional is available in their local community, ready to respond at a moment's notice if things go wrong at their home or business.”

SERVPRO specializes in disaster restoration, cleanup and repair services, helping to remediate damage, making it “Like it never even happened” for both commercial and residential customers. For more information on SERVPRO please visit


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