TORONTO, April 7, 2022 -
AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX-V:AGO)is pleased to announce it has entered into an agreement with IBK Capital Corp. ("IBK Capital") to assist the Company in evaluating strategic alternatives to maximize shareholder value. IBK Capital will work to develop strategies to unlock what AurCrest Gold's management and Board of Directors believe to be a significant unrecognized value in the Company that is not reflected in its stock price.
Christopher Angeconeb, Chief Executive Officer of AurCrest said: "We are very pleased to have a firm with IBK Capital's global relationships in the mining sector working to explore ways to create increased value for our shareholders. We continue to explore our 100% owned gold projects located near Red Lake, Ontario. Red Lake is one of North America's largest gold producing districts, and we believe that our assets in the region will be seen as attractive exploration opportunities by several global mining companies. IBK Capital's mandate will include the coordination of discussions with interested parties on a potential investment in, or acquisition of the Company's exploration assets at a time and on terms that produce the best possible value to AurCrest's shareholders."
Michael White, President and Chief Executive Officer of IBK Capital said: "We are excited to work with AurCrest on such an attractive collection of gold assets in the area of one of the most productive gold camps in North America at a time of high inflation and record high gold prices."
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, Ranger Lake, Dancing Man and Bridget Lake gold properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
AurCrest Gold Inc.
Christopher Angeconeb, President and C.E.O.
(807) 737-5353
christopherangeconeb@gmail.com
Ian Brodie-Brown, Director of Business Development
(416) 844-9969
bigtree007@icloud.com
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.
SOURCE: AurCrest Gold Inc.
