AurCrest Gold Inc. Announces Completion of Winter Drilling Program at Richardson Lake

TORONTO, ONTARIO - (March 26, 2012) - AurCrest Gold Inc. ("AurCrest" or the "Company") (TSX-V:AGO) announces the completion of its winter 2011/2012 diamond drilling program on its Richardson Lake Property with the completion of three more holes and 811 metres since the release of initial assay results on February 22 for a total for the program of 8 NQ holes and 1,613 metres. This latest drilling follows up on the results in Hole RL-12-03 which support the presence of open zones of gold bearing mineralization trending to the west from the main Discovery Zone along the north shore of Richardson Lake. Drill core samples have been obtained from all three holes and submitted for assay with results pending.

The property is part of AurCrest's 100% owned East Red Lake land package made up of 27,960 acres of unpatented claims located 110 km east northeast of Red Lake, Ontario.

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.

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.

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.