Aurcrest Gold Announces 2012 Drill Program At Bridget Lake

Toronto, Ontario, February 29, 2012 - AurCrest Gold Inc. (TSXV:AGO.V) ("AurCrest") is pleased to announce that Halo Resources Ltd. in joint venture with AurCrest and a third joint venture partner has initiated a 2,400 meter drill program at Halo's West Red Lake ("WRL") Property, northern Ontario.

Approximately half of Halo's drill program will test 2010 geophysical targets at its Pancake Bay Property within gold-bearing chemical metasediments that host most of the recent high grade gold intersections. The remainder of the program (the "Bridget Lake Program") will focus on gold mineralization in the Bridget Lake Property held in Joint Venture with AurCrest. The Bridget Lake Property includes a drill hole intersection of 7.1 g/t gold over 5.8 meters (Hole RL08-009) which occurs between two known zones of visible gold mineralization associated with narrow quartz veins on the shores of Bridget Lake. AurCrest, which holds a 35% joint venture interest in the Bridget Lake Property, has contributed its pro rata portion of the drilling costs for the Bridget Lake Program.

Trevor Boyd, P.Geo., a qualified person as defined by National Instrument 43-101 ("NI 43-101"), Vice President of Exploration, supervised the preparation of the technical information contained in this press release in compliance with NI 43-101.

FOR FURTHER INFORMATION PLEASE CONTACT:

AurCrest Gold Inc.

Ian Brodie-Brown

President and C.E.O.

(416) 368-2929

(416) 601-1450 (FAX)

info@aurcrestgold.com

www.aurcrestgold.com

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Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.