GoldQuest Announces C$30 Million Private Placement

The most recent news, dated December 16, 2025, announces that GoldQuest Mining Corp. plans a non-brokered private placement to raise C$30 million. The placement involves issuing 24,793,399 units at a price of C$1.21 per unit. Each unit consists of one common share and one common share purchase warrant, exercisable at C$1.80 for 24 months from the closing date. The proceeds are designated for early development activities at the Romero project, expansion of greenfield exploration drilling, and general corporate purposes. The company highlighted the participation of a new institutional investor, alongside continued support from established Dominican institutional investors, including one of the largest in the Dominican Republic.

This announcement follows closely on the heels of the December 3, 2025, update regarding the 2025 drilling and metallurgical program at the Romero Gold-Copper Project. The company reported the successful and on-schedule completion of five metallurgical drill holes (1,906m) and the selection of 1,600m of core for advanced testwork. Geotechnical and hydrogeological drilling (5 holes, ~1,600m and 12 holes) is progressing as scheduled for February 2026. Two additional rigs are mobilizing to the Cachimbo discovery target for resource delineation, with the first starting in early December and the second by late January 2026.

This C$30 million private placement is a materially positive development for GoldQuest.

1. Significant Capital Injection: The financing substantially increases GoldQuest's cash reserves. As of September 30, 2025, the company reported C$27.1 million in cash. This new C$30 million will bring the pro-forma cash position to approximately C$57.1 million (before expenses), significantly de-risking the company's financial outlook for the foreseeable future. This is critical for an exploration and development company.
2. Validation at a Premium: The placement price of C$1.21 per unit is a substantial step up from the previous C$0.50 private placement completed earlier in 2025 (which raised C$16.2 million). While the C$1.21 unit price is below the recent market close of C$1.42 on December 15, 2025, it reflects a strong validation of the company's progress and asset quality by institutional investors, especially considering the inclusion of a warrant. The market has seen a significant appreciation since the earlier C$0.19 and C$0.50 financings, and securing capital at over C$1.00 is positive.
3. Strategic Investor Confidence: The participation of a "new institutional investor" and continued support from "established Dominican institutional investors," including one of the largest in the country, is a key strategic positive. This demonstrates growing confidence in GoldQuest's Romero project and its broader strategy in the Dominican Republic. Local institutional backing is vital for navigating the regulatory and operating environment in a host country. The investor presentation (Nov 2025) already highlighted strong backing from a Dominican Republic Group (20.4%) and Agnico Eagle (11.2%), and this new placement further strengthens that foundation.
4. Advancement of Key Projects: The stated use of proceeds directly supports GoldQuest's core objectives: "early development activities at the Romero project" (including the ongoing Bankable Feasibility Study and Environmental and Social Impact Assessment) and "expansion of greenfield exploration drilling" at high-priority targets like Cachimbo. This financing ensures the company is well-funded to execute its critical programs, as reiterated by the CEO, Luis Santana.
5. Reduced Short-Term Dilution Risk: With a significantly strengthened balance sheet, the immediate pressure to raise further capital is reduced, providing management with greater flexibility and allowing them to focus on project execution rather than financing.

The news is a material positive for GoldQuest, providing the necessary financial horsepower to aggressively advance its flagship Romero project and unlock further exploration potential in the Tireo belt.

GoldQuest Mining Corp. (TSXV: GQC, OTCQX: GDQMF) is a Canadian mineral exploration and development company. Its core focus is on gold-copper exploration and development in the Dominican Republic.

Flagship Project: Romero Gold-Copper Project - Location: Located in the San Juan province of the Dominican Republic, within the highly prospective Tireo Belt. - Status: An advanced-stage, high-grade undeveloped gold-copper project, currently progressing towards development. It is considered one of the most advanced high-grade undeveloped gold-copper projects in the Caribbean. - Development Stages: Actively engaged in completing a Bankable Feasibility Study (BFS) and an Environmental and Social Impact Assessment (ESIA). Lead consultants for the BFS are Sedgman Canada Ltd. and SRK Consulting (Canada) Inc. AECOM is the lead consultant for the ESIA. - Mine Type: Proposed underground mine. - Key Metrics (from 2016 Pre-Feasibility Study (PFS) and Investor Presentation): - Probable Reserves: 7.03 million tonnes at 3.72 g/t gold, 4.33 g/t silver, and 0.88% copper (equivalent to 1.117 million AuEq ounces). - Total Indicated Mineral Resources: 20.23 million tonnes at 3.48 ppm AuEq (2.265 million AuEq ounces). - Total Inferred Mineral Resources: 3.02 million tonnes at 2.47 ppm AuEq (240,000 AuEq ounces). - Estimated Annual Production: 109,000 AuEq ounces (Life of Mine - LOM). - Life of Mine: 8 years. - Throughput: 2,800 tonnes per day (tpd). - Start-Up Capital Expenditure (CAPEX): US$158 million. - After-tax NPV (5%): US$203 million (based on US$1,300/oz Au and US$2.50/lb Cu). - After-tax IRR: 28%. - All-in Sustaining Cash Costs: US$595/oz AuEq. - Exploration Upside: The company emphasizes the 50-km-long Tireo Belt, which hosts Romero and remains highly prospective. Significant greenfield exploration is underway, with the Cachimbo discovery target being a key focus for resource delineation drilling in 2025.