Recent Insider Transactions Derivative • Jun 14
CEO & Director exercised options to buy CA$1.4m worth of stock. On the 12th of June, Luis Santana exercised options to buy 2m shares at a strike price of around CA$0.18, costing a total of CA$292k. This transaction amounted to 102% of their direct individual holding at the time of the trade. Since September 2025, Luis' direct individual holding has increased from 552.00k shares to 1.59m. Company insiders have collectively sold CA$2.8m more than they bought, via options and on-market transactions in the last 12 months. Announcement • May 30
GoldQuest Mining Corp. Reports High-Grade Assay Results from Metallurgical Drilling At Romero Gold-Copper Project GoldQuest Mining Corp. has reported assay results from five metallurgical drill holes completed at the Company's 100%-owned Romero Gold-Copper Project in San Juan Province, Dominican Republic. The metallurgical holes, LTP-171 through LTP-175, were drilled to provide fresh representative core for the ongoing geo-metallurgical program and bankable feasibility study work. The assay results confirm multiple high-grade gold-copper intervals within the Romero deposit, while metallurgical test work completed to date continues to support conventional processing assumptions and ongoing process design work. The geo-metallurgical program is a key component of the ongoing bankable feasibility study and has focused on representative samples from defined domains within the Romero deposit. The work completed to date indicates that the tested geo-metallurgical domains are all amenable to conventional comminution and flotation processing methods, supporting the process route contemplated for Romero. Comminution testing has identified variation in SAG work indices, particularly for softer ores, providing additional information to better align operating cost assumptions with geology. Flotation test work has identified opportunities to evaluate coarser grinding requirements without loss of recovery, while remaining consistent with recovery assumptions applied in the 2016 PFS. Preliminary test work also suggests that target recoveries may be achievable without the inclusion of a gravity circuit, which could simplify the final flowsheet if confirmed by the remaining work. Mineralogical investigations have been completed to support metallurgical interpretation and address previously identified data gaps, and tailings samples have been generated for ongoing rheological and paste backfill test work. The results reported remain preliminary and subject to completion of the test program, engineering analysis and integration into the bankable feasibility study. Final metallurgical conclusions and design criteria will be reported as the program advances. The metallurgical drill holes were completed as part of the Company's broader geo-metallurgical program for Romero. The program is designed to provide fresh material for comminution, flotation, variability and life-of-mine composite test work, as well as additional geological information to support the feasibility study. GoldQuest is evaluating the integration of the new metallurgical drilling into the ongoing mineral resource estimate update and related feasibility study workstreams. Core from these holes was partially assayed as part of the metallurgical test program at ALS Metallurgy at Kamloops, Canada, and the remainder of the core was assayed at Bureau Veritas. As part of the Company's Quality Assurance and Quality Control procedures, the Company reviews results from Certified Standard Reference Materials, which are inserted at a rate of five per 100 samples. Within the results disclosed herein there were no samples with results outside of the recommended tolerances for the Standards. In GoldQuest's drill programs, composite intervals were chosen using a combination of geological criteria and mineralization, averaging around two metres core length. The drill core is cut in half with one half of the core sample shipped to Bureau Veritas Labs by GoldQuest technicians. The remaining half of the core is kept at the Company core shack for future assay verification, or any other further investigation. Assays within intervals below the 0.005 g/t detection limit for Au were given a 0.0025 g/t value. All drill samples were prepared and screened by ACME Labs (Vancouver); metallic fire assay and multi-element ICP-MS were assayed by Bureau Veritas Laboratories (Vancouver). Gold values are determined by standard fire assay with an AA finish, or, if over 10.0 g/t Au, were re-assayed and completed with a gravimetric finish. Copper and zinc values exceeding 0.2% were re-assayed with a 4-acid digestion and AAS finish. When zinc values exceeded 10% a classic titration was carried out for zinc. QA/QC included the insertion and continual monitoring of numerous standards, blanks and duplicates into the sample stream, at random intervals within each batch. The scientific and technical information contained in this press release has been reviewed and approved by Leandro Sastre, P. Geo., VP of Exploration of GoldQuest, and Franco Martucci, P.E., Senior Metallurgical Engineer. Mr. Sastre is responsible for the exploration and geological information, and Mr. Martucci is responsible for the metallurgical information. Each is a Qualified Person for their respective technical information under NI 43-101 - Standards of Disclosure for Mineral Properties. Recent Insider Transactions • May 13
Independent Director recently bought CA$90k worth of stock On the 11th of May, Patrick Michaels bought around 200k shares on-market at roughly CA$0.45 per share. This transaction amounted to 9.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold CA$4.2m more in shares than they bought in the last 12 months. New Risk • May 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 27% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Significant insider selling over the past 3 months (CA$1.0m sold). Announcement • Mar 23
GoldQuest Mining Corp. Reports New High-Grade Polymetallic Massive Sulphide Discovery At Cachimbo Target GoldQuest Mining Corp. announced results from the ongoing exploration campaign at the Cachimbo target. Drill hole TIR-26-58 has intersected a significant high-grade polymetallic zone, confirming a new mineralized parallel structure located to the northeast of the known Cachimbo mineralized zone. The intercept returned high-grade values for gold, silver, copper and zinc, with a notable high-grade core of 3.59 metres grading 17.63 g/t AuEq. This discovery represents the first major drill success at Cachimbo following the resumption of drilling after a nine-year hiatus and identifies a new target for additional drill testing. TIR-26-58: 12.26 m @ 2.52 g/t Au, 50.7 g/t Ag, 0.94% Cu & 12.0% Zn from 104.5 m depth. High-Grade Core: Including 3.59 m @ 5.74 g/t Au, 128.88 g/t Ag, 2.18% Cu, and 27.6% Zn. New Structure: The intercept confirms a new mineralized parallel structure, significantly expanding the potential footprint of the Cachimbo discovery. Open at Depth: Mineralization remains open in multiple directions, with further drilling planned to test the continuity of this new zone. Geophysics Program Underway: A Pole-Dipole Induced Polarization (PD-IP) survey is being executed to improve drill targeting. Hole TIR-26-58 was positioned to test a structural offset identified through recent detailed structural re-interpretation. The mineralization is hosted within a sequence of lithic and mafic tuffs, characterized by massive to semi-massive sulfide assemblages. The presence of high-grade copper (2.18% Cu) silver (128.88 g/t Ag) and zinc (27.61% Zn) within the core of this intercept confirms that the new parallel structure is a high-tenor polymetallic system. This second structure significantly expands the potential volume of the Cachimbo target, as it remains open along strike and down-dip. Table 1 below shows a detail of the intercepts and grades. Table 1: Results from hole TIR-26-58 HoleID From(m) To(m) Interval(m) Au g/t Cu % Ag g/t Pb % Zn % Au Eq g/t TIR-26-58 64.65 76.91 12.26 2.52 0.94 50.7 0.26 12.0 7.62 Includes 73.32 76.91 3.59 5.74 2.18 128.88 0.65 27.61 17.63 *Interval grades are calculated using uncapped assays. Gold values did not exceed 21.9 g/t which is below the capping level for Romero of 72.2 g/t. Intervals may not represent true widths. There is insufficient drilling to determine the exact orientation of the mineralized zones at this time. AuEq was calculated by using metal prices of Au USD 3,450/ounce, Cu USD 5.1/pound, Ag USD 37.4/ounce, Zn USD 3,280/ton and Pb USD 1,920/ton. No metal recoveries utilized. Exploration at Cachimbo is ongoing. While the initial results for TIR-26-58 are encouraging, assays for the second half of the hole remain pending and are expected shortly. Furthermore, drilling of holes TIR-26-57 and TIR-26-59, which targeted the down-dip extension of the primary Cachimbo zone, have been completed. Results from hole TIR-26-57 did not return significant intercepts, while results for hole TIR-26-59 are currently pending laboratory analysis. The rig has now transitioned to TIR-26-60, targeting deep extension of Cachimbo. In addition to the drilling, a new PD-IP survey is now being carried out. Two lines are already completed, and results shows a good correlation between low and high chargeability contrast and mineralization, especially at the newfound VMS structure. Announcement • Feb 27
GoldQuest Mining Corp. Announces Board Changes, Effective February 26, 2026 GoldQuest Mining Corp. announced the appointments of Coille Van Alphen and Jose Michelen to the Company's board of directors, effective immediately, to fill the vacancies created by the resignations of Bill Fisher and Julio Espaillat from the Board. Mr. Fisher and Mr. Espaillat have served on the Board for 16 years and 15 years, respectively. The Company would like to thank them both for their valuable contributions and service to GoldQuest over the past years and wishes them continued success in their future endeavors. Coille Van Alphen. Ms. Van Alphen is a Metals & Mining Portfolio Manager at Equinox Partners, a US-based global value investment firm recognized for its long-term investment horizon and focus on good corporate governance. In this role, she manages a concentrated portfolio of precious metals miners and oversees investments in base metals companies. Previously, Ms. Van Alphen was Senior Analyst of a precious metals mutual fund at Toqueville Asset Management (now Sprott Funds), where she was responsible for evaluating and monitoring global mining equity investments. Earlier in her career, she worked at CPP Investment Board in global capital markets and external portfolio management. Ms. Van Alphen holds an MBA, graduating with distinction, from the Ivey School of Business at Western University and is a CFA charterholder. Jose Michelen. Mr. Michelen has profound corporate and investment experience in the Dominican Republic and South America and has a track record of implementing and executing strategic corporate development goals within various enterprises. He has been active in financial markets since 1996, initially working in New York before co-founding a financial transactional platform in the Dominican Republic in 2002. Since 2004, Mr. Michelen has focused on actively managing and overseeing investments across various industries in the Dominican Republic and Central America. He is a founding partner and board member of several Dominican financial institutions, including Centro Financiero Crecer, AG Investments and Alpha Valores, and has served on the board of directors of the Bolsa de Valores de la Republica Dominicana. He currently serves on the Board of Cevaldom. Mr. Michelen holds an MBA from the Massachusetts Institute of Technology and a Bachelor of Science degree from New York University. Recent Insider Transactions • Feb 15
Director recently sold CA$574k worth of stock On the 13th of February, William Fisher sold around 250k shares on-market at roughly CA$2.30 per share. This transaction amounted to 9.8% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth CA$1.0m. Insiders have been net sellers, collectively disposing of CA$4.2m more than they bought in the last 12 months. Recent Insider Transactions • Jan 30
Chief Financial Officer recently sold CA$898k worth of stock On the 27th of January, Paul Robertson sold around 400k shares on-market at roughly CA$2.24 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$1.0m. Paul has been a net seller over the last 12 months, reducing personal holdings by CA$1.1m. Recent Insider Transactions Derivative • Jan 18
Independent Director exercised options to buy CA$1.0m worth of stock. On the 16th of January, Florian Siegfried exercised options to buy 500k shares at a strike price of around CA$0.36, costing a total of CA$180k. This transaction amounted to 27% of their direct individual holding at the time of the trade. Since March 2025, Florian's direct individual holding has increased from 1.83m shares to 2.35m. Company insiders have collectively sold CA$1.2m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Jan 14
Goldquest Mining Corp. announced that it has received CAD 41.999999 million in funding On January 13, 2026, Goldquest Mining Corp. closed the transaction by closing its third and final tranche. Under the third tranche, the company issued 2,744,542 Units at a price of CAD 1.21 per Unit, for total gross proceeds of CAD 3,320,895.82. Combined with the First Tranche and Second Tranche, the Company has issued a total of 34,710,743 Units under the Private Placement, for gross proceeds of approximately CAD 41,999,999.03. In connection with the Third Tranche, the Company paid cash finder's fees of CAD 100,000.45 to Paradigm Capital Inc. and CAD 66,044.34 to Milenio Partners, S.A., each an arm's length party. All Common Shares and Warrants issued pursuant to the Private Placement are subject to a four-month statutory hold period under applicable Canadian securities laws. Recent Insider Transactions • Jan 11
Director recently sold CA$168k worth of stock On the 9th of January, Julio Espaillat sold around 100k shares on-market at roughly CA$1.68 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$204k. Insiders have been net sellers, collectively disposing of CA$1.2m more than they bought in the last 12 months. New Risk • Jan 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 21% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 18% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (21% increase in shares outstanding). Significant insider selling over the past 3 months (CA$604k sold). Announcement • Dec 17
Goldquest Mining Corp. announced that it expects to receive CAD 30.000013 million in funding Goldquest Mining Corp. announced a non-brokered private placement of 24,793,399 units of the Company at a price of CAD 1.21 per Unit, for aggregate gross proceeds of up to approximately CAD 30,000,000. There is no minimum offering amount. Each Unit will be comprised of one common share of the Company and one-half of one Common Share purchase warrant . Each Warrant will be exercisable to purchase one Common Share at an exercise price of CAD 1.80 per Common Share for a period of 24 months from the closing date of the Private Placement. Common Shares and Warrants issued under the Private Placement will be subject to a four-month statutory hold period in accordance with applicable Canadian securities laws. The Private Placement is expected to close on or before December 19, 2025, subject to the completion of formal documentation and receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange. Announcement • Dec 05
GoldQuest Mining Corp. Provides Update on 2025 Drilling and Metallurgical Program At Romero Gold-Copper Project, Dominican Republic GoldQuest Mining Corp. provided an update on its ongoing 2025 drilling and metallurgical testwork program at the 100%-owned Romero Gold-Copper Project in the Dominican Republic. Completed 5 metallurgical drillholes totalling 1,906 metres; approximately 1,600 m of representative core selected from all holes for advanced locked-cycle and variability testwork at ALS Kamloops, with first results expected in March 2026 and final report anticipated by late April/early May 2026. Geotechnical and hydrogeological drilling advancing on schedule: 5 dedicated geotech holes (approximately 1,600 m) plus 12 hydrogeological holes (2 completed, 2 in progress), all expected to be finished by February 2026 to support Feasibility Study engineering design. One additional rig mobilizing in December and more in January to the high-priority Cachimbo discovery target to initiate resource delineation drilling and test additional early-stage targets along the Romero-Cachimbo mineralized corridor. Once the geotechnical and hydro geological drilling is completed, GoldQuest plans to transition these drills to Romero resource expansion drilling and to test proximal targets including the Romero Gap target. Integration of new structural, geophysical and geological datasets into machine learning (AI) targeting software now underway following completion of district-scale structural review - expected to help refine and add additional quality exploration targets for 2026. In addition, assay results for these holes will be obtained as part of the metallurgical test work program currently underway. Approximately 1,600 metres of representative core have been selected from all five holes. Sample distribution ensures full representativity of the mineralized body across the planned mining sequence and different lithological and alteration domains. Data from these holes will support detailed engineering design for the Feasibility Study. One additional rig is being mobilized to Cachimbo to start the exploration program during December, with the objective of delineating a Mineral Resource in this target, and drill test other early-stage targets along the mineralized belt defined between Romero and Cachimbo. One additional rig is expected to be deployed in this area by January 2026. Recent Insider Transactions • Oct 24
Insider recently sold CA$204k worth of stock On the 17th of October, Felix Mercedes sold around 150k shares on-market at roughly CA$1.36 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$387k. Insiders have been net sellers, collectively disposing of CA$1.0m more than they bought in the last 12 months. Recent Insider Transactions • Oct 09
Chief Financial Officer recently sold CA$250k worth of stock On the 7th of October, Paul Robertson sold around 200k shares on-market at roughly CA$1.25 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Paul's only on-market trade for the last 12 months. Board Change • Oct 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 5 highly experienced directors. Independent Director Charles Reid was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Sep 02
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$160k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Significant insider selling over the past 3 months (CA$160k sold). Announcement • Aug 13
Goldquest Mining Corp., Annual General Meeting, Oct 03, 2025 Goldquest Mining Corp., Annual General Meeting, Oct 03, 2025. New Risk • Jul 10
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 31% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 11% per year over the past 5 years. Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m. Announcement • Jul 10
Goldquest Mining Corp. announced that it has received CAD 16.21155 million in funding from Guess Investments Ltd. On July 9, 2025, Goldquest Mining Corp closed the transaction. The company issued 10,972,222 Common Shares at a price of CAD 0.5 per share for aggregate gross proceeds of CAD 5,486,111 in its second and final tranche. The Tranche included participation from Guess Investments Ltd. No finder's fees were paid in connection with the Second Tranche. In Total, the company issued 32,423,099 Common Shares at a price of CAD 0.5 for total gross proceeds of CAD 16,211,549.50. Announcement • Jun 12
GoldQuest Receives Environmental Terms of Reference for Flagship Romero Project in the Dominican Republic GoldQuest Mining Corp. announced that it has received from the Ministry of Environment and Natural Resources of the Dominican Republic the official Terms of Reference ("ToR") for the Company's Romero gold-copper-silver project (the "Romero Project"). This marks a significant milestone, initiating the final phase of the Environmental Impact Assessment ("EIA") process required to obtain an environmental license for the future development of the proposed underground mine. GoldQuest is also pleased to announce that AECOM, a globally recognized environmental consulting firm, has been selected to lead the EIA process for the Romero Project. AECOM's global experience and track record align with GoldQuest's commitment to exceed local environmental and social requirements by applying international best practices. In addition to AECOM, GoldQuest will engage a multidisciplinary team of licensed Dominican environmental professionals to support the preparation of the EIA in accordance with the issued ToR. The Romero Project, located in San Juan Province, is a proposed underground mine designed to produce a copper concentrate containing gold and silver, using conventional processing methods. The project will incorporate state-of-the-art technology in both its mining and processing facilities to ensure operational efficiency, safety, and environmental performance. The Romero Project also includes an extensive infrastructure plan, encompassing the development of an access road, a processing plant, a filtered tailings storage facility, and a 69 kV power line connection to the national grid. Board Change • Jun 01
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Florian Siegfried was the last independent director to join the board, commencing their role in 2011. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 15
Goldquest Mining Corp. announced that it expects to receive CAD 15 million in funding Goldquest Mining Corp. intends to offer, on anon-brokered private placement basis, up to 30,000,000 common shares at a price of CAD 0.50 per common share for aggregate gross proceeds of up to CAD 15,000,000 on May 14, 2025, . There is no minimum offering amount. It is anticipated that the private placement will close on or before May 30, 2025, and the private placement is subject to the completion of formal documentation and the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. It is anticipated that certain insiders of company will subscribe for common shares in the private placement. Common shares issued under the private placement will be subject to a four-month statutory hold period, in accordance with applicable Canadian securities laws. Recent Insider Transactions • May 04
Director recently bought CA$111k worth of stock On the 1st of May, Charles Reid bought around 200k shares on-market at roughly CA$0.55 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Apr 30
Goldquest Mining Corp. announced that it has received CAD 1.51413 million in funding On April 28, 2025, Goldquest Mining Corp closed the transaction. Recent Insider Transactions Derivative • Apr 03
Independent Director exercised options to buy CA$230k worth of stock. On the 31st of March, Patrick Michaels exercised options to buy 500k shares at a strike price of around CA$0.20, costing a total of CA$100k. This transaction amounted to 48% of their direct individual holding at the time of the trade. Since September 2024, Patrick has owned 1.05m shares directly. Company insiders have collectively bought CA$259k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Mar 26
Independent Director exercised options to buy CA$193k worth of stock. On the 21st of March, Florian Siegfried exercised options to buy 500k shares at a strike price of around CA$0.20, costing a total of CA$100k. This transaction amounted to 38% of their direct individual holding at the time of the trade. Since September 2024, Florian has owned 1.33m shares directly. Company insiders have collectively bought CA$159k more than they sold, via options and on-market transactions, in the last 12 months. Board Change • Jan 21
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Frank Balint was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Dec 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 5.8% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (CA$82.4m market cap, or US$57.4m). Board Change • Nov 25
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Frank Balint was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Nov 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.7% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (CA$85.5m market cap, or US$61.1m). Announcement • Nov 21
Goldquest Mining Corp. announced that it has received CAD 8.698951 million in funding Goldquest Mining Corp. announced a a non-brokered private placement of 45,783,952 common shares at an issue price of CAD 0.19 per share for the gross proceeds of CAD 8,698,950.88 on November 20, 2024. In connection with the Private Placement, the Company paid a cash finder’s fee to Coastline Group totaling approximately CAD 217,500. The Private Placement is subject to final acceptance of the TSX Venture Exchange. Common shares issued under the Private Placement are subject to a four-month statutory hold period, in accordance with applicable Canadian securities laws. New Risk • Nov 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 17% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.7% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Market cap is less than US$100m (CA$44.1m market cap, or US$31.6m). New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings have declined by 1.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.7% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$62.3m market cap, or US$46.1m). Announcement • Jul 26
Goldquest Mining Corp., Annual General Meeting, Sep 27, 2024 Goldquest Mining Corp., Annual General Meeting, Sep 27, 2024. Board Change • Jun 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Frank Balint was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Oct 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (CA$19.5m market cap, or US$14.2m). Board Change • Oct 31
High number of new directors CEO & Director Pereyra Santana was the last director to join the board, commencing their role in 2022. Announcement • May 10
Goldquest Mining Corp., Annual General Meeting, Jun 27, 2022 Goldquest Mining Corp., Annual General Meeting, Jun 27, 2022. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Frank Balint was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 31
GoldQuest Provides Update on the Romero Project Status GoldQuest Mining Corp. provided an update on progress towards achieving the Romero Project Exploitation License in the San Juan Province of the Dominican Republic following a visit to the Dominican Republic by David Massola, CEO and Bill Fisher, Chairman of the board last week. The response by government officials was positive regarding support of the project, however, no commitment was made or timetable provided as to when the decision would be made with respect to the Permit. The Company has been encouraged by the recent reported public statements in San Juan by the President Luis Abinader on January 8, 2022. He stated that he was in favor of knowing whether or not mining is feasible in San Juan province, and that the necessary scientific studies are to be carried out, recognizing that beforehand the government must grant the Romero exploitation permit to know the potential for gold production in the region. The Company will continue to work closely with the government as it has done in the past to achieve the Company’s goal of receiving the Permit which will allow advanced environmental, social and economic studies to investigate the viability of the Company’s Romero gold/copper project. The Minister of Finance, Hochi Vicente, expressed his support for the Romero license issuance, and recognized the role that a mining project of this nature could achieve, recognizing that mining represents $1.8 billion or 20% of the national exports – a key sector for the solvency of the country. Along with the Minsters of Energy and Mines, and Finance, GoldQuest executives met with the Vice Minister of Mines, Miguel Diaz, the Mining Director, Rolando Nunes, the Presidential Special Advisor on Mining, Miguel Pena, the past President of the Republic, Leonel Fernandez and the Legal Advisor to the President, Antoliano Peralta. In other news the Company is reactivating it’s exploration program in the Dominican Republic after a halt of over 3 years. The Company looks forward to welcoming Minister Almonte and his team to the PDAC conference in Toronto in June and discussing study programs for the Romero Mineral Reserves and accompanying exploration programs. The main Romero gold/copper deposit, located in the San Juan province was discovered by GoldQuest in 2012. A 2016 Pre-feasibility study returned an after-tax Net Present Value of USD 204 million at 5% and an IRR of 28%, and an AISC of 595/oz of gold. Note that this study was done at USD 1300/oz of gold and USD 2.50 copper where March 30 prices were USD 1,938/oz of gold and USD 4.75 copper, an increase of 49% and 90% respectively. The Company is well funded with in excess of CAD 14 million in cash. Is New 90 Day High Low • Jan 06
New 90-day low: CA$0.27 The company is down 4.0% from its price of CA$0.28 on 08 October 2020. The Canadian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 7.0% over the same period. Recent Insider Transactions Derivative • Dec 13
Non-Executive Chairman exercised options to buy CA$228k worth of stock. On the 11th of December, William Fisher exercised options to buy 600.00k shares at a strike price of around CA$0.13, costing a total of CA$78k. This transaction amounted to 26% of their direct individual holding at the time of the trade. Since March 2020, William's direct individual holding has increased from 1.91m shares to 2.35m. Company insiders have collectively bought CA$87k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Nov 14
Chief Financial Officer recently sold CA$85k worth of stock On the 11th of November, Paul Robertson sold around 259k shares on-market at roughly CA$0.33 per share. This was the largest sale by an insider in the last 3 months. This was Paul's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Nov 14
Chief Financial Officer exercised options to buy CA$181k worth of stock. On the 11th of November, Paul Robertson exercised options to buy 625.00k shares at a strike price of around CA$0.13, costing a total of CA$81k. This transaction amounted to 174% of their direct individual holding at the time of the trade. Since March 2020, Paul has owned 618.00k shares directly. Company insiders have collectively sold CA$4.1k more than they bought, via options and on-market transactions in the last 12 months.