AurCrest Gold Announces Staking of New Exploration Property Adjacent to Its Richardson Lake Gold Property in the Red Lake Mining District

TORONTO, August 11, 2020 - AurCrest Gold Inc. (the "Company" or "AurCrest") (TSXV:AGO) is pleased to announce the acquisition of a further 50 claim cell units representing approximately 1,010 hectares and named the Richardson North Extension Property, adjacent and contiguous to its Richardson Lake Gold Property. The Richardson Lake Gold Property lies approximately 100 kilometres east-northeast of Red Lake in the world famous Red Lake mining district.

AurCrest's Richardson Lake Gold Property, which included several new gold discoveries through 2012 and 2014 work programs, remains the Company's primary focus. The newly staked claims lie to the immediate north of the historic Kostynuk Brothers mine, approximately three kilometres north of the Argosy Gold Mine, and approximately 13 kilometres north of First Mining Gold Corp.'s Springpole deposit.

AurCrest Gold is a leader in the First Nations advancement into shared participation and inclusion in regional mining opportunities and counts as its board of directors and management, past and present, many indigenous business and cultural leaders. AurCrest is proud to play a leading role in the gold exploration of Northwestern Ontario, especially in the Birch-Uchi Greenstone Belt and the Red Lake mining district, as it forges new business relationships between Canada's founding cultures.

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

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.