AurCrest Gold Announces First Closing of Non-brokered Offering

May 29, 2018

Toronto, Ontario May 29, 2018 - AurCrest Gold Inc. (the “Company” or “AurCrest”) (TSX-V: AGO) (FRANKFURT: TM8A, WKN: A0YG1K) is pleased to announce that, further to its Press Release dated May 11, 2018, it has closed the first tranche of its non-brokered offering (the “WC Offering”) with the issuance of 1,350,000 working capital units (the “WC Units”) at a price of $0.05 per WC Unit for proceeds of $67,500. A further 56,000 WC Units were issued to a finder in lieu of a cash fee of $2800. The securities issued are subject to hold periods expiring on or after September 26, 2018.

The Company wishes to announce that the closing date of its agreement to acquire the 2% Net Smelter Returns Royalty on the Company’s Richardson Lake Property (the “2% NSR”) has been extended to June 7, 2018.

The Company is pleased to announce that it received approval of its Richardson Lake 2018-19 Project exploration plan (PL-18-10898) from Ontario’s Ministry of Northern Development and Mines, for 6,000 m of drilling and 15,000 m of line-cutting and ground-based IP survey.

The Company will leave the remainder of the WC Offering of up to 8,650,000 WC Units open until at least June 7, 2018.

About AurCrest Gold Inc.

AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake and Bridget Lake gold properties.

FOR FURTHER INFORMATION PLEASE CONTACT:

AurCrest Gold Inc.

Christopher Angeconeb
President and C.E.O
(807) 737-5353
christopherangeconeb@gmail.com

Ian Brodie-Brown
Director of Business Development
(416) 844-9969
ianbrodiebrown@gmail.com

Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

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