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press release

posted on Aug 14, 2014 05:12PM

PRESS RELEASE FROM MARKETWIRE

AurCrest Announces Debt Settlement

Thursday, August 14, 2014

AurCrest Announces Debt Settlement

TORONTO, ONTARIO--(Marketwired - Aug. 14, 2014) - AurCrest Gold Inc. (the "Company") (TSX VENTURE:AGO) wishes to announce that it has entered into an agreement to settle $255,295.58 of debt owed to Cyr Drilling International Ltd. ("Cyr Drilling") by the Company in consideration for the issuance of 2,836,168 working capital units ("WC Units") of the Company at a price of $0.09 per WC Unit. Each WC Unit consists of one common share of the Company and one (1) share purchase warrant (a "WC Warrant"). Each WC Warrant entitles Cyr Drilling to acquire an additional common share for thirty-six (36) months from the closing at a price of $0.12 per common share. The debt settlement is subject to TSX Venture Exchange approval.

The securities to be issued will be subject to a hold period and will be legended.

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