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GoldQuest Closes C$22,860,000 Strategic Investment with Agnico Eagle

VANCOUVER, BC–(Marketwired – March 08, 2017) – GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) (“GoldQuest” or the “Company”) is pleased to announce that the Company has closed its previously announced non-brokered private placement of 38,100,000 common shares of GoldQuest with Agnico Eagle Mines Limited (“Agnico”) for a total investment of C$22,860,000. The common shares were issued at a price of $0.60 per common share. Agnico now owns approximately 15% of the issued and outstanding common shares of GoldQuest.