Mr. Ian Brodie-Brown reports

AURCREST ANNOUNCES DEBT SETTLEMENT

AurCrest Gold Inc. has entered into agreements to settle an aggregate of $429,545.74 of debt owed to certain insiders of the company and other parties (including former insiders) in consideration for the issuance of 8,590,914 common shares of the company at a deemed price of five cents per share pursuant to the minimum pricing rules of the TSX Venture Exchange. Current insiders of the company comprise $321,228.86 of the debt settled. Certain insiders and former insiders have released the company from debts totalling $47,257.55 for no consideration. The debt settlement settles an aggregate of $476,803.29 of current liabilities of the company noted as due to officers and directors in the audited financial statements of the company as at Dec. 31, 2014. The disinterested directors of the company have approved the debt settlements with the respective insiders and their associates and affiliates. The debt settlement is subject to TSX-V approval. The securities to be issued will be subject to a hold period of four months and a day.

Ian Brodie-Brown, president and chief executive officer of AurCrest, stated: "I would like to thank the officers and directors of AurCrest for settling their debt for stock. This demonstrates the belief that the management of the company has in the potential of our Richardson Lake project. It also represents an endorsement of the recent appointment of Christopher Angeconeb as executive vice-president and the belief that his role will be instrumental in advancing the Richardson Lake project. The debt settlement significantly improves the financial position of the company and will facilitate raising working capital from the recently announced private placement offering."

The insider debt settlements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 by virtue of the exemptions contained in sections 5.5 (a) and 5.7 (1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the company to be issued to insiders does not exceed 25 per cent of the company's market capitalization.

We seek Safe Harbor.