AurCrest Gold announces non-brokered private placement and closing of first tranche

TORONTO, ONTARIO / ACCESSWIRE / September 17, 2019 / AurCrest Gold Inc. (the "Company" or "AurCrest") (TSXV:AGO)(FRANKFURT:TM8A)(WKN:A0YG1K) is pleased to announce the offering of a non-brokered private placement of up to 1,000,000 working capital units (the "WC Units") for up to $50,000 (the "WC Offering").

Each WC Unit is priced at $0.05 and consists of one (1) common share and one (1) common share purchase warrant ("WC Warrant"). Each WC Warrant entitles the holder to purchase one (1) common share (a "WC Warrant Share") at a price of $0.05 per WC Warrant Share for a period of three (3) years following the closing of the WC Offering (the "Closing Date").

Eligible Finders may receive up to 7% of the value of proceeds of the sale of WC Units in cash and up to 8% of the number of WC Units sold in the form of broker warrants (the "WC Broker Warrants"), with each WC Broker Warrant entitling the holder to acquire one (1) WC Unit at a price of $0.05 for a period of three (3) years from the Closing Date.

The Company has closed the first tranche of the WC Offering with the sale of 500,000 WC Units for gross proceeds of $25,000. A cash commission of $1,750 and 40,000 WC Broker Warrants were paid to a finder with respect to the closing of the first tranche. The securities issued are subject to a hold period expiring on January 18, 2019.

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
[phone]
[e-mail]

Ian Brodie-Brown
Director of Business Development
[phone]
[e-mail]

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.

SOURCE: AurCrest Gold Inc.

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