AurCrest Gold subsidiary signs Letter of Intent with Mobismart Mobile Off-Grid Power & Storage
Suite 3600, 22 Adelaide Street West, Toronto, Ontario M5H 4E3 · Tel: (807) 737-5353
AurCrest Gold subsidiary signs Letter of Intent
with Mobismart Mobile Off-Grid Power & Storage
NEWS RELEASE FOR IMMEDIATE RELEASE
SEPTEMBER 24, 2018 TSXV Symbol: AGO
BF Symbol: TM8A
Toronto, Ontario September 24, 2018 - AurCrest Gold Inc. (the “ Company” or “ AurCrest”) (TSX-V:
AGO) (FRANKFURT: TM8A, WKN: A0YG1K ) is pleased to announce the signing of a Letter of
Intent by Wiigwaasaatig Energy Inc. (“Wiigwaasaatig”), a subsidiary of the Company, with Mobismart
Mobile Off -Grid Power & Storage Inc. (“ Mobismart”), to acquire two mobile renewable energy
generation units for deployment at First Nations proximal to the Company’s Richardson Lake property in
Northwestern Ontario.
“I am very pleased to announce that the signing of this Letter of Intent with Mobis mart is a significant
milestone for the Company and its Wiigwaasaatig subsidiary, further advancing our renewable energy
infrastructure development efforts in partners hip with our local First Nations,” said President & CEO
Christopher Angeconeb. “ The strategic alliance between Wiigwaasaatig and Mobis mart will work to
deploy the renewables technology on reserve at Cat Lake First Nation and at Lac Seul First Nation, in
partnership with those communities, to reduce their grid -sourced electrical consumption and to foster an
environment of socioeconomic growth and wealth generation , while gro wing Company shareholder
value. These same renewables units are also capable of being deployed to remote mineral exploration and
development sites to offset the need for diesel generation, ideally through strong future partnerships with
local First Nations.”
This is the first step in the strategic partnership with Mobis mart announced on Ap ril 19, 2018 to use
Mobismart’s already -proven vertical axis wind turbine systems and solar panel systems, coupled with
integral battery storage and system controls, to produce a ready -to-connect renewable energy generation
package.
Wiigwaasaatig focuses on remote Ontario and Nunavut communities and sites, and principally in areas to
which the parent Company bears a corporate social responsibility. AurCrest’s Richardson Lake property
in Northwestern Ontario lies approximately 30km southwest of the Cat Lake First Nation , a remote
community with approximately 500 residents.
The AurCrest Executive has developed a business model for renewable energy deployment through
Wiigwaasaatig that incorporates the active participation of First Nations, respects the current landscape of
electrical utility being developed by First Nations and government in Northwestern Ontario, and is
capable of providing benefit to remote mine development sites. This model is the foundation for
development and operation of Wiigwaasaatig, which is itself an Aboriginally-driven corporation.
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Suite 3600, 22 Adelaide Street West, Toronto, Ontario M5H 4E3 · Tel: (807) 737-5353
Wiigwaasaatig and Mobismart will enter into discussions for the terms of the purchase of the two mobile
renewable energy generation units and the establishment of a longer -term manufacturing and distribution
relationship. The Letter of Intent is non -binding save and except that Wiigwaasaatig and Mobismart have
agreed to a 30 business day exclusivity period to negotiate the terms of final agreements.
Maple Energy and Mining Fund, Inc. acts as technical consultant to the Company and Wiigwaasaatig. In
addition to evaluating technical and economic viability of power generation projects, Maple Energy is
able to vet the technical and economic merits of mining projects, which are the basis for lo ng-term Power
Purchase Agreements. The Maple Energy team also provides project management, construction and
operational management capabilities.
About AurCrest Gold Inc.
AurCrest is a mineral exploration company focused on the acquisition, exploration, an d 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]
Forward Looking Statement:
Some of the statements contained herein may be forward -looking statements whi ch involve known and unknown risks and
uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and fut ure
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 condit ions, 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 estimate s 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.