GoldQuest CEO Julio Espaillat said: "The addition of this exploration license significantly increases our land holding along the prospective trend that hosts the Romero Project.

"We will systematically explore this new ground starting with the large magnetic lows which have similar characteristics to Romero."

The Toribio concession is approximately 10 kilometres south of the Romero Project and along the same mineralization and alteration trend.

GoldQuest applied for the concession following its airborne geophysical survey when a number of large magnetic lows were identified in the area. These magnetic lows are prospective because they may correspond with areas of hydrothermal alteration seen at Romero and elsewhere along the trend.

GoldQuest is advancing the Romero Project towards a potential production decision and is currently drilling in-fill holes at the Romero deposit to improve the resource classification, gather geotechnical data and provide material for advanced metallurgical testing.

The drill program is past the halfway point with four of six holes completed. All information gathered during the drill program will be used in a pre-feasibility study for the Romero Project.