VANCOUVER, BC, JULY 6, 2009 - GoldQuest Mining Corp. ("GoldQuest" or the "Company") is pleased to announce the appointment of Anna Stylianides to the GoldQuest Board of Directors.
Mr. Alistair Waddell, President & CEO of GoldQuest, commented, "The Company is delighted to welcome Anna to the Board as her executive expertise will assist the company to move forward. Management looks forward to her contributions as the Company continues to advance its exploration programmes and grow shareholder value".
Anna Stylianides began her career in corporate law by joining the firm of Webber Wentzel Attorneys in 1990 after graduating from the University of the Witwatersrand in Johannesburg. In 1992 she joined Investec Merchant Bank Limited where she specialized in risk management and gained experience in the areas of corporate finance and structured finance, mergers and acquisitions, structuring, specialized finance and other banking and financial services transactions. She was also involved in designing and structuring of financial products for financial institutions and corporations. She has been a director of and has been engaged in the financial restructuring of certain Nasdaq publicly traded companies and has knowledge of Canadian and SEC securities regulations. In recent years Ms Stylianides was the CEO of FinTec Holdings Corp, a company specializing in structuring and implementing corporate and structured finance transactions in the Mining and Bio Science sectors. In September 2005, Ms Stylianides joined the Surgical Spaces, Inc Group of Companies as director and CEO and has overseen its national expansion strategy as one of Canada's private healthcare consolidators. Ms Stylianides currently is on the board of directors of various institutions such as Callinan Mines Limited, Kaiser Foundation and the Frazer Institute.
The Company has granted Ms Stylianides an aggregate of 300,000 incentive stock options at an exercise price of $0.10 per share. The options have been granted pursuant to the terms of the Company's stock option plan and will expire in five years. The options have a vesting schedule over a two year period.
The Company also regrets to announce the resignation of Vice-Chairman, David Hall from its board of directors. Mr. Hall has advised that he is resigning from the Company due to time demands from other professional commitments he has. He has, however, agreed to continue to assist the Company as a consultant and technical advisor, using his extensive geological and exploration experience to help advance the Company's portfolio in the Dominican Republic and Spain.
Management and the board would like to thank Mr. Hall as co-founder of the Company and its former CEO for his considerable services as a director and for his technical input into the development of new geological models for the Dominican Republic.
About GoldQuest
GoldQuest is a Vancouver based exploration company with projects in the Dominican Republic and Spain. GoldQuest is traded on the TSX-V under the symbol GQC.V and in Frankfurt / Berlin with symbol M1W.
On behalf of the Board of Directors,
"signed"
Alistair H. Waddell
For further information please contact:
Alistair Waddell
President & Chief Executive Officer
Dan Maarsman
Investor Relations - Vancouver, Canada
Tel: +1-604-632 4333
www.goldquestcorp.com
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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.