AurCrest Gold seeks buyer for Richardson Lake, retains IBK Capital Corp. as Financial Advisor and Financing

AurCrest Gold seeks buyer for Richardson Lake, retains IBK Capital

Corp. as Financial Advisor and Financing

NEWS RELEASE FOR IMMEDIATE RELEASE

FEBRUARY 27, 2017 TSXV Symbol: AGO

Toronto, Ontario February 27, 2017 - AurCrest Gold Inc. (the “ Company” or “AurCrest”) (TSX-V: AGO) is

pleased to announce that it has retained IBK Capital Corp . (the “ IBK Capital ”) to act as its Financial

Advisor for a period of 2 years. IBK Capital has been engaged initially to seek a buyer for the Company’s

Richardson Lake property or locate a suitable party to option or joint venture the property. IBK Capital

will be paid a fee of 5% of the value of any transaction consummated during the term of its engagement.

AurCrest is also pleased to announce that it is proceeding with a brokered private placement (the

“Offering”) of up to 5,000,000 working capital units (the “WC Units”) of the Company at a price of $0.05

per WC Unit for up to $ 250,000 to provide the Company with working capital . The Offering is being led

on a best efforts basis by IBK Capital. The Offering is subject to approval from the TSX Venture Exchange.

Each WC Unit consists of one (1) common share of the Company priced at $0.05 per common share and

one (1) common share purchase warrant (each a “ WC Warrant”), with each WC Warrant entitling the

holder to acquire one (1) common share until five (5) years from the closing of the Offering at a price of

$0.05.

The Company has agreed to pay IBK Capital a commission of 9% cash and issue broker warrants (“Broker

Warrants”) equal to 10% of the number of WC Units sold under the Offering. Each Broker Warrant

entitles the holder to acquire a WC Unit for five (5) years from Closing at a price of $0.05 per Broker

Warrant.

All securities to be issued pursuant to the above -referenced private placement will be subject to a

statutory four month hold period.

About IBK Capital Corp.

IBK Capital is an independent and privately owned investment banking firm which offers a full range of

financial advisory services. Such services include private placements of equity and debt, going public by

way of reverse take -over, merger, acquisition and divestiture advisory services, valuations, fairness

opinions and take-over defence planning. The Firm’s corporate objective is to provide the highest quality

independent financial advisory services to its clients.

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.

Ian Brodie-Brown Christopher Angeconeb

President and C.E.O. Executive Vice-President

(416) 844-9969 (807) 737-5353

[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 ob jectives 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, constructio n and mining

operations, the uncertainty of future profitability and the uncertainty of access to a dditional 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 fo rward-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.

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