GoldQuest Provides Update on Drilling and Exploration Activities at Romero Gold-Copper Project, Dominican Republic

The February 3, 2026, news release provides an operational update on the 2025-2026 drilling and metallurgical program at the flagship Romero Gold-Copper Project. Key developments include the completion of a 5-hole metallurgical drill program (1,906 meters) with samples now at the lab for advanced testwork. Geotechnical and hydrogeological drilling is advancing to support Feasibility Study (FS) engineering. Additionally, greenfield exploration has commenced at the Cachimbo discovery target, with the first hole reaching 450 meters of a planned 500-meter depth. A new ground geophysics program (IP surveys) is also underway.

This specific news release is a routine operational update; however, it confirms that GoldQuest is strictly adhering to the development timeline promised to investors during its massive C$42 million financing round in December 2025 and January 2026. - The completion of metallurgical drilling is a critical de-risking step for the Feasibility Study, as metallurgy is often a point of failure for high-arsenic or complex gold projects. - The commencement of drilling at Cachimbo suggests management is looking to expand the resource base beyond the known Romero deposit, which is necessary to justify the current market capitalization, which has ballooned over 600% in the last 12 months. - The impact is positive but non-material in terms of immediate valuation change, as no assay results or engineering breakthroughs were reported.

GoldQuest is focused on the Romero Gold-Copper Project in the Tireo Belt of the Dominican Republic. - Flagship: Romero Project, an underground deposit with an indicated resource of 2.26M oz AuEq at 3.48 g/t. - Production Profile (2016 PFS): 109,000 oz AuEq/year over an 8-year life of mine. - Capex: US$158M (Note: This 2016 figure is likely to increase significantly in the upcoming 2026 BFS due to inflation and updated engineering).