AurCrest Gold closes $50K convertible loan financing

News Release

AurCrest Gold announces Convertible Loan Financing

Toronto, Ontario September 22, 2017 – AurCrest Gold Inc. (the “Company” or “AurCrest”) (TSX-V: AGO) is pleased to announce that the Company has completed a convertible loan financing of $50,000 (the “Loan”). The Loan is repayable in one (1) year, with early repayment provisions in certain circumstances, with interest at 10% per year. The Loan will be used for general working capital.

The Loan is convertible at the rate of one (1) common share for each $0.05 of loan converted. 1,000,000 detachable warrants (“Detachable Warrants”) were also issued to the lender. Each Detachable Warrant entitles the holder to acquire an additional common share exercisable at a price of $0.05 per Detachable Warrant until September 21, 2018.

A cash commission of $2500 and 100,000 broker warrants (“Broker Warrants”) were paid to IBK Capital Corp. as agent for AurCrest with respect to the closing of the Loan. Each Broker Warrant entitles the holder to acquire a common share of the Company at a price of $0.05 until September 21, 2018.

The securities issued are subject to a hold period expiring on January 22, 2018.

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
President and C.E.O
(807) 737-5353
christopherangeconeb@gmail.com

Ian Brodie-Brown
Director of Business Development
(416) 844-9969
ianbrodiebrown@gmail.com