AurCrest Gold Inc.
TSX VENTURE : AGO

AurCrest Gold Inc.

October 24, 2014 16:35 ET

AurCrest Gold Closes Financing & Recommences Drilling at Richardson Lake Gold Project

TORONTO, ONTARIO--(Marketwired - Oct. 24, 2014) - AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX VENTURE:AGO) wishes to announce that further to the Company's Press Release dated October 16, 2014, it closed the final tranche of its Offering and placed an additional 450,000 working capital units ("WC Units") for proceeds of $22,500. The securities issued are subject to a hold period expiring on February 24, 2015.

AurCrest placed a total of 1,116,785 WC Units and raised an aggregate of $55,839.27. The funds raised will be used for the continuation of the Richardson Lake drill program, to be completed before freeze-up. Drilling will deepen hole RL-14-08 extending the zone encountered in the 1st phase of drilling, the results of which were announced in the Press Release issued September 25, 2014. A second hole will then be drilled to test the updip extension of hole RL-12-07 and proceed to test for the new zone encountered most recently in RL-14-08.

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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