GoldQuest Begins Trading On Frankfurt Stock Exchange

TORONTO, ONTARIO--(CCNMatthews - Feb. 21, 2006) - GoldQuest Mining Corp. (TSX VENTURE:GQC) ("GoldQuest" or "the Company") is pleased to announce that the Company's shares are now quoted on the Frankfurt Stock Exchange under the following trading symbol - M1W.

About GoldQuest

GoldQuest is an exploration & development company focused on the Dominican Republic. Through regional grass-roots exploration and new geological models the Company has built a portfolio of drill targets on new gold and copper discoveries including Las Tres Palmas, Los Comios, Las Animas and Cerro Dorado. The Company also has concessions close to the Pueblo Viejo gold-silver deposit. The Company recently announced a new agreement with Gold Fields Ltd concerning certain projects in western Dominican Republic.

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

For more information, please contact

GoldQuest Mining Corp.
Mr. David Hall
President & Chief Executive Officer
+353-1-661-3309

or

GoldQuest Mining Corp.
Mr. Alistair Waddell
Exploration Manager Dominican Republic
+1-809-385-2222

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