AurCrest Gold Inc.
TSX VENTURE : AGO

September 29, 2011 08:00 ET

AurCrest Announces Proposed Offering of Up to $1,000,000

TORONTO, ONTARIO--(Marketwire - Sept. 29, 2011) - AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX VENTURE:AGO) wishes to announce that it is offering up to 5,405,405 units of the Company at a price of $0.185 per unit for gross proceeds of up to $1,000,000 (the "Offering"). Each unit (a "Unit") will consist of one (1) common share of the Company and one-half (1/2) share purchase warrant (each a "Warrant"). Each full Warrant will entitle the holder to acquire an additional common share at the price of $0.30 per share for twelve (12) months following Closing. The Company may pay finder's fees of up to 8% cash plus up to 8% Compensation Options for funds raised by eligible finders. Each Compensation Option entitles the finder to purchase one (1) common share of the Company at a price of $0.185 for one year from Closing.

The financing is subject to regulatory approval. The proceeds of the private placement will be used for working capital and to perform work on the Company's Richardson Lake property including an IP survey, re-building the camp on the property and performing 1000 metres of drilling to test IP targets on the Discovery West area.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put 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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