AurCrest Gold and Lac Seul First Nation to Jointly Investigate Carbon Sequestration Opportunities

TORONTO, May 7, 2019 - AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX-V: AGO) (FRANKFURT: TM8A, WKN: A0YG1K) is pleased to announce that the Company has initiated work with the Lac Seul First Nation ("Lac Seul") to investigate carbon sequestration opportunities in the First Nation's traditional territory in Northwestern Ontario.

Lac Seul has enacted a Band Council Resolution to explore the feasibility of valuing their 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. AurCrest, and the Company's subsidiary corporation Wiigwaasaatig Energy Inc. ("Wiigwaasaatig"), will work with the First Nation to finalize the terms of a definitive carbon credit management agreement to develop and implement sequestration project opportunities. AurCrest and Wiigwaasaatig will further engage industry experts to work alongside the First Nation in investigating these project opportunities, and together with Lac Seul will extend invitations to participate to other regional First Nations.

"As a member of the Lac Seul First Nation, I am proud that the Lac Seul Chief and Council have chosen to work with AurCrest and Wiigwaasaatig, through the Company's model of participation and inclusion with our First Nations neighbour communities, in turning the historic understanding of the role of indigenous people as stewards of the land into a modern model of indigenous-led environmental and community sustainability," stated Christopher Angeconeb, AurCrest President and CEO.

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.

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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.

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SOURCE: AurCrest Gold Inc.