AurCrest Gold Options Gold Property to Newrange Gold
Suite 3600, 22 Adelaide Street West, Toronto, Ontario M5H 4E3 · Tel: (807) 737-5353
AurCrest Gold Options Gold Property to Newrange Gold
NEWS RELEASE FOR IMMEDIATE RELEASE
DECEMBER 24, 2019 TSXV Symbol: AGO
Toronto, Ontario December 24, 2019 - AurCrest Gold Inc. (the “Company” or “AurCrest”) (TSX-V:
AGO) is pleased to announce that the Company has signed an Option Agreement (the “Agreement”)
with Newrange Gold Inc. (“Newrange”) to option a 100% interest in the Company’s Western Fold
property in the Birch-Uchi greenstone belt northeast of Red Lake, Ontario.
Under the terms of the Agreement, Newrange has the option to acquire a 100% interest in the AurCrest
Western Fold property by paying AurCrest an aggregate of $200,000 and issuing an aggregate of 1
million common shares over two years with an initial payment of $30,000 and the issuance of 150,000
common shares on or before closing, the payment of a further $70,000 and the issuance of an additional
350,000 common shares on the first anniversary following closing, and the payment of a further $100,000
and the issuance of an additional 500,000 common shares on the second anniversary following closing.
AurCrest retains a 2% Net Smelter Return royalty in the Western Fold property, half of which can be
purchased for $1,000,000. The transaction is subject to TSX Venture Exchange approval by Newrange.
The transaction is anticipated to close within the next week.
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 Ian Brodie-Brown
President and C.E.O Director of Business Development
(807) 737-5353 (416) 844-9969
[email protected] [email protected]
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Suite 3600, 22 Adelaide Street West, Toronto, Ontario M5H 4E3 · Tel: (807) 737-5353
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.