AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX VENTURE: AGO) is pleased to announce that, further to its press release of March 29, 2016, the Company has closed the first tranche of its brokered private placement (the "Offering") with the sale of 1,500,000 working capital units (the "WC Units") of the Company at a price of $0.05 per WC Unit for a gross proceeds of $75,000. A cash commission of $6,750 and 150,000 broker warrants were paid to the Agent with respect to the closing of the first tranche of the Offering. The securities issued are subject to a hold period expiring on August 28, 2016.

The Company will leave the remainder of the Offering of up to 3,500,000 WC Units open until May 30, 2016.

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.

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.

Contacts:
AurCrest Gold Inc.
Ian Brodie-Brown
President and C.E.O.
(416) 844-9969
ianbrodiebrown@gmail.com

AurCrest Gold Inc.
Christopher Angeconeb
Executive Vice-President
(807) 737-5353
christopherangeconeb@gmail.com

SOURCE: AurCrest Gold Inc.