|By Marketwired .||
|April 9, 2014 12:51 PM EDT|
TORONTO, ONTARIO -- (Marketwired) -- 04/09/14 -- AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX VENTURE:AGO) is pleased to report that it has begun discussions with the Lac Seul First Nation and Cyr Drilling to work out a creative arrangement to train Lac Seul First Nations band members as certified drillers. This solution to the current exploration market would continue the drilling for gold within the 'Jacquie-Girl' iron-formation discovered in 2012 on AurCrest's Richardson Lake Gold project. Due to the difficult market conditions, the Company's 2013 drill season was cancelled and there has not been any follow-up drilling on the discovery-hole announced in April of 2012 (see the Company's press release dated April 30, 2012).
The parties have agreed to work towards an arrangement that would commence a summer drill program in June of 2014 at Richardson Lake. A Cyr Drilling drill rig remains on the Richardson Lake Property and will be used to drill the Richardson Lake discovery without the Company incurring any mobilization costs. Equally as important, this will further the drill training, apprenticeship and certification of a number of Lac Seul band members, who have otherwise been unable to find certification/apprenticeship in these markets, and complete their training as qualified drill helpers.
Ian Brodie-Brown, President of AurCrest stated: "We would like to thank Lac Seul for bringing this creative approach to the Company and Cyr Drilling for participating in these talks. We believe these creative discussions will lead to an arrangement that will provide our shareholders with a new opportunity during these very difficult times in the exploration industry."
About AurCrest Gold Inc.
AurCrest Gold 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.
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