AurCrest Gold Inc.

AurCrest Gold Inc.

November 04, 2014 13:26 ET

AurCrest Gold Announces Additional Drilling Results from Richardson Lake Property

TORONTO, ONTARIO--(Marketwired - Nov. 4, 2014) - AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX VENTURE:AGO) is pleased to announce additional results from its 2014 exploration program at the Richardson Lake Property which resumed after a short pause from the drilling of the first two holes on the property in September.

Core sample assays from the recently completed extension of hole RL-14-08 combined with those previously released (see Press Release dated September 25, 2014) defines:

Drill Hole From (m) To (m) Interval Assay (g/t Au)
Rl-14-08 369 387 18 metres 1.85
Including 377 387 10 metres 2.93
Including 381 385.5 4.5 metres 6.00
Including 380 383.5 3.5 metres 7.57
Including 381 383.5 2.5 metres 10.4

Hole RL-14-08 was collared approximately 300 metres west of the discovery hole RL-14-07 (see Press Release dated April 30, 2012) and drilled at 155 degrees azimuth and 45 degrees dip. An additional hole RL-14-10 has also been completed from the same set-up as RL-14-08 and drilled at 132 degrees azimuth and 45 degrees dip testing to the east of RL-14-08 and crossing at right angles 75 metres above hole RL- 12-07 and extending to test the new discovery in hole RL-14-08 announced here at an approximate step out of 125 metres east. Samples have been obtained and shipped for analysis for this hole and the remainder of the assays from hole RL-14-08 are pending. No estimations of the true widths of these intersections can be made at this stage.

Ian Brodie-Brown, President of AurCrest Gold states, "We note the consistency of these results when compared to the original discovery hole drilled in March of 2012, and that although very similar they are in fact enhanced in most every capacity. Also, we note that the pause for CSR purposes, to fulfill our commitment to other businesses operating in the region and sharing our natural resources, lead to a better understanding of our targeting. We feel our understanding of the potential location of further mineralization is better defined as we wait for the results from hole RL-14-10. AurCrest is in a unique position as the Lac Seul First Nation are a large shareholder having invested in the exploration of their traditional lands, and LSFN are represented on the Board of Directors by Chrisopher Angeconeb. The Company is permitted to drill 6,000 metres, allowing for a further 4,400 metres to be drilled under this permit."

The samples were gathered as NQ core lengths of 0.5 to 1.0 metres with recoveries of >98%. The core was split in half using a diamond saw, sealed in secure packages, and shipped by bonded carrier to AGAT Laboratories facility in Thunder Bay, Ontario for preparation. Following preparation, the sample pulps were shipped to the AGAT analytical facility in Mississauga, Ontario and analyzed for gold by fire assay with ICP-OES finish. A duplicate unknown to the laboratory was submitted per batch of ten samples and a gold standard and a blank, unknown to the laboratory, were included with each batch of samples. AGAT Laboratories is an ISO 17025 accredited facility and fulfills standard QA/QC protocols.

Trevor Boyd, P.Geo., Vice President of Exploration, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this press release.

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.

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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