TORONTO, ONTARIO / ACCESSWIRE / May 27, 2019 / AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX-V: AGO) (FRANKFURT: TM8A, WKN: A0YG1K) is pleased to announce that a Letter of Intent has been signed between the Company and Blue Source Canada ULC ("Bluesource"). The Letter of Intent outlines the joint investigation of the forest carbon sequestration opportunities in the Lac Seul First Nation's traditional territory in Northwestern Ontario, as previously announced by the Company on May 7th 2019.

Bluesource is the leading carbon offset developer in North America and is recognized as such by clients and industry peers in the Environmental Finance rankings. It has a particularly strong track record in developing forest carbon projects for landowners and indigenous communities across North America. Bluesource leverages both its technical capacity and transactional capability in carbon markets to help forest owners evaluate opportunities and generate value in diverse carbon markets by developing and monetizing offsets on their behalf.

The three groups - Lac Seul First Nation, AurCrest, and Bluesource - will work together to explore the feasibility of valuing the First Nation's traditional territory for purposes of capturing and sequestering carbon dioxide and monetizing carbon offset credits for sale to the benefit of the First Nation and its business partners.

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 AngeconebPresident and C.E.O(807) 737-5353[email protected]

Ian Brodie-BrownDirector of Business Development(416) 844-9969[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.

SOURCE: AurCrest Gold Inc.