Aurcrest GOLD Announces Staking of New Exploration Property IN Red Lake Mining District
Suite 3600, 22 Adelaide Street West, Toronto, Ontario M5H 4E3 · Tel: (807) 737-5353
AURCREST GOLD ANNOUNCES STAKING OF NEW EXPLORATION PROPERTY IN RED LAKE MINING
DISTRICT
NEWS RELEASE FOR IMMEDIATE RELEASE
JULY 29, 2020 TSXV Symbol: AGO
Toronto, Ontario, July 29, 2020 - AurCrest Gold Inc. (the “Company” or “AurCrest”) (TSX-V: AGO) is
pleased to announce the acquisition of a further 50 claim cell units representing a 2.3km by 4.4km block
encompassing approximately 1,010 hectares and named the Ranger East Property, adjacent to its
previously acquired Ranger Lake Property. The Ranger Lake Property lies approximately 10 kilometres
due east of the Red Lake and Campbell Gold Mines in the world famous Red Lake mining district. The
acquisition of these claims brings AurCrest’s holdings in the area to a total of 100 claim cell units
encompassing approximately 2,020 hectares.
AurCrest also holds the Richardson Lake Gold Property, located approximately 100 kilometres east-
northeast of Red Lake, which included several new gold discoveries through 2012 and 2014 work
programs. The Company has optioned the Western Fold Property (See Press Release dated December
24, 20219), a set of claim cells contiguous to the Richardson Lake Gold Property and to the west, to
Newrange Gold Corp (“Newrange”) for cash ($30,000 on signing / $70,000 on 1st anniversary / $100,000
on second anniversary) and shares (150,000 Newrange on signing / 350,000 on 1st anniversary /
500,000 on second anniversary) and a 2% NSR (1% of which may be purchased by Newrange for
$1,000,000.00 cash payment.).
AurCrest also vended its Confederation Lake belt properties to Pistol Bay Mining Inc. (“Pistol Bay”), for
cash and share consideration (See Press Release dated November 16, 2016). In January 2020, Pistol Bay
accelerated the exercise of the option and acquired a 100% interest in the properties. This project has
recently been the focus of several other companies earning an interest in the claims through option
from Pistol Bay.
AurCrest Gold is a leader in the First Nations advancement into shared participation and inclusion in
regional mining opportunities and counts as its board of directors and management, past and present,
many indigenous business and cultural leaders. AurCrest is proud to play a leading role in the gold
exploration of Northwestern Ontario, especially in the Birch-Uchi Greenstone Belt and the Red Lake
mining district, as it forges new business relationships between Canada’s founding cultures.
The Company also wishes to announce that it has issued 8,000,000 options to the Company’s directors
and officers. The options are exercisable at a price of $0.05 for a period of five years.
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.
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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.
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.