AurCrest Gold Announces Closing of First Tranche of Private Placement and work program at Richardson Lake
Suite 3600, 22 Adelaide Street West, Toronto, Ontario M5H 4E3 ∙ Tel: (807) 737‐5353
AurCrest Gold Announces Closing of First Tranche of Private
Placement and work program at Richardson Lake
NEWS RELEASE FOR IMMEDIATE RELEASE
APRIL 9, 2019 TSXV Symbol: AGO
BF Symbol: TM8A
Toronto, Ontario April 9, 2019 - A u r C r e s t G o l d I n c . ( t h e “Company” or “ AurCrest”)(TSX-V:
AGO)(FRANKFURT: TM8A, WKN: A0YG1K ) is pleased to announce the closing of a first tranche
of the 10 million working capital unit non-brokered private pla cement announced on March 27, 2019 with
the placement of 1,200,000 working capital units for proceeds of $60,000. The funds will be used for an
exploration program at the Company’s Richardson Lake property and for working capital.
The Company intends to initiate a borehole IP work program asso ciated with the Company’s discovery
holes drilled in 2012 (see Press Rel ease issued April 30, 2012) and in 2014 (see Press Releases issued
September 14, 2014 and November 4, 2014). The planned borehole IP program will take advantage of
continuingly favourable ice conditions at Richardson Lake to su rvey the zone between the 2012 and 2014
discovery holes as well as potential mineralization structures beneath the lake, to assist the design of
future exploration drilling programs on the property.
In addition, the Company has secured a time extension for prope rty maintenance on cell claims within the
Western Fold property, contiguous to the Richardson Lake proper ty, and a portion of assessment credits
from this borehole IP program will be applied to maintain the W estern Fold property in good standing.
The Company has allowed certain cell claims within the Western Fold property to lapse, and has further
staked new cell claims along the northern boundary of the cell claims currently subject to the time
extension.
Each working capital unit (a “W C Unit”) is priced at $0.05 and consists of one (1) common share and
one (1) common share purchase warrant (“WC Warrant”). Each WC W arrant entitles the holder to
purchase one (1) common share (a “WC Warrant Share”) at a price of $0.075 per WC Warrant Share for
thirty six (36) months following the closing of this first tran che of the Offering. The securities issued are
subject to a hold period expiring on August 10, 2019. The priv ate placement will remain open until at
least April 26, 2019.
About AurCrest Gold Inc.
AurCrest is a mineral exploration company focused on the acquis ition, exploration, and development of
gold properties. AurCrest has a portfolio of properties in Onta rio, which include the Richardson Lake and
Bridget Lake gold properties.
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Suite 3600, 22 Adelaide Street West, Toronto, Ontario M5H 4E3 ∙ Tel: (807) 737‐5353
FOR FURTHER INFORMATION PLEASE CONTACT:
AurCrest Gold Inc.
C h r i s t o p h e r A n g e c o n e b I a n B r o d i e ‐ B r o w n
P r e s i d e n t a n d C . E . O D i r e c t o r o f B u s i n e s s D e v e l o p m e n t
(807) 737‐5353 ( 416) 844‐9969
[email protected] [email protected]
Forward Looking Statement:
Some of the statements contained herein may be forward‐looking statements which involve known and unknown risks and
uncertainties. Without limitatio n, statements regarding potent ial mineralization and resources, exploration results, and futu re
plans and objectives of the Comp any are forward looking stateme nt s t hat i nv ol ve var i ous r i sk s. The fol l ow i ng ar e i mpor t ant
f a c t o r s t h a t c o u l d c a u s e t h e C o m p a n y ’ s a c t u a l r e s u l t s t o d i f f e r 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 associ ated with development, constru ction and mining operations, the uncertainty of future
profitability and the uncertainty of access to additional capit al. There can be no assurance that forward‐looking statements w ill
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‐lookin g 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.