Aurcrest GOLD Announces Signing of Agreement Between BIG Tree Carbon and Agoke Development LP to Develop Forest Carbon Offset Project
Suite 3600, 22 Adelaide Street West, Toronto, Ontario Canada M5H 4E3 · Tel: (807) 737-5353 · Fax (416) 865-6636
AURCREST GOLD ANNOUNCES SIGNING OF AGREEMENT
BETWEEN BIG TREE CARBON AND AGOKE DEVELOPMENT LP TO
DEVELOP FOREST CARBON OFFSET PROJECT
NEWS RELEASE FOR IMMEDIATE RELEASE
NOVEMBER 8, 2021 TSXV Symbol: AGO
Toronto, Ontario, November 8, 2021 – AurCrest Gold Inc. (the “Company” or “AurCrest”)
(TSXV: AGO) is pleased to announce that its wholly-owned subsidiary, Big Tree Carbon Corp.
(“Big Tree”) (see the Company’s Press Release dated April 19, 2021), has signed an Emission
Reduction Benefit Management Agreement (the “ ERB Agreement ”) with the Agoke
Development Limited Partnership. (“ADLP”) to design and implement a Forest Carbon Offset
Project that will create marketable Carbon Credits for the new carbon offset credit market.
After many months of negotiation, AurCrest has agreed to partner with ADLP to bring 974,000
hectares of potential carbon offsetting to market in a larger 1,028,496 hectare forest (the “Ogoki
Forest”). ADC is the general partner of a limited partnership comprising the Aroland First
Nation, the Eabametoong First Nation and the Marten Falls First Nation within whose traditional
territories the Ogoki Forest is located. Pursuant to the terms of the ERB Agreement, Big Tree
will assist ADLP in designing and financing this project and AurCrest, on behalf of Big Tree,
will utilize the capital market expertise in our Company to bring growth and access to capital on
behalf of the partners.
Christopher Angeconeb, AurCrest President and CEO stated “As a member of the Lac Seul First
Nation, I am very pleased that ADLP has moved forward with AurCrest through this Company’s
model of participation and inclusion with our First Nations neighbour communities, to turn the
historical role of indigenous people as stewards of the land into a modern model of indigenous-
led environmental and community sustainability. I am very pleased that AurCrest is the first
publicly traded company in Canada to be able to pursue this carbon sequestration opportunity. I
am also proud that the Company’s model represents a holistic approach to economic and
resource development, as a partnership between indigenous and non-indigenous peoples of
Canada, for the mutual benefit of all for generations to come.”
It is part of AurCrest’s mandate to assist under clause 92 of the Truth and Reconciliation
Commission of Canada: Calls to Action (the “TRC Report”) and particularly clause 92.ii. of the
TRC Report to ensure “that Aboriginal peoples have equitable access to jobs, training, and
education opportunities in the corporate sector, and that Aboriginal communities gain long-term
sustainable benefits from economic development projects.”
As outlined in the Company’s Press Release dated May 25, 2020, AurCrest has been acting as a
partnership bridge to connect capital markets with Forest Carbon Offset opportunities amongst
indigenous communities since 2019. AurCrest has a long-standing relationship with First Nations
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Suite 3600, 22 Adelaide Street West, Toronto, Ontario Canada M5H 4E3 · Tel: (807) 737-5353 · Fax (416) 865-6636
in northern Ontario resulting in the appointment of Chris Angeconeb, a member of the Lac Seul
First Nation, as President and CEO in March 2017, and the subsequent appointment of two
prominent First Nations members to the Company’s Board of Directors, Stan Beardy and Alex
Carpenter.
The benefits derived from the monetization of the carbon credits, net of expenses, will be split as
to 75% to ADLP and 25% to Big Tree. The ERB Agreement has an initial term of five years
commencing from the date the first emission reduction benefits available for sale are generated
by the project. At the end of the initial five year term, ADLP can purchase the 25% interest for
fair market value. If the interest is not purchased at the end of the initial five years, the ERB
Agreement continues for a further five years after which time the 25% interest held by Big Tree
will be relinquished to ADLP.
Big Tree would also like to invite our shareholders to visit the Empire Club of Canada
(www.empireclubofcanada.com) and join us on December 9th when we celebrate former AFN
National Chief Perry Bellegarde with the Empire Club’s annual award of the Nation Builder of
the Year. It is Big Tree’s honour to be a lead sponsor in this event.
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, Ranger Lake and Bridget Lake gold properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
AurCrest Gold Inc.
Christopher Angeconeb Ian Brodie-Brown
President and C.E.O. Director of Business Development
(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 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.