GoldQuest Mining Corp.

VANCOUVER, BC, September 1, 2006 – GoldQuest Mining Corp. announces that Amy Stephenson has resigned as the Chief Financial Officer of GoldQuest, but will continue in the short term in a consulting capacity with respect to preparation of financial statements and general office administration. The Board of Directors of GoldQuest thanks Mrs. Stephenson for her assistance and contributions throughout the past two years and looks forward to working with her in a consulting capacity going forward.

About GoldQuest

GoldQuest is an exploration company focused in the Dominican Republic where it has a portfolio of gold and copper exploration projects. The Company has three mining companies as shareholders Gold Fields Ltd, Barrick Gold Corporation and MinMet Plc, which own a combined total of 30.6%.

GoldQuest is traded on the TSX-V exchange under the symbol GQC.V and in Frankfurt under the symbol M1W.

For more information please contact:

Mr. David Hall
President & Chief Executive Officer
Tel: +353-1-661-3309 (Dublin)
www.goldquestcorp.com
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or

Mr. Alistair Waddell
Vice President of Exploration
Tel: 778-994 6111 (Vancouver)

On behalf of the Board of Directors
”signed”
David J. Hall President and Director

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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