Update On East Red Lake Gold Exploration 

TORONTO, ON - AurCrest Gold Inc. reported on its 100% owned East Red Lake property package made up of 27,960 acres of unpatented claims located 110 km east northeast of Red Lake, Ontario. Preliminary results from the surface evaluation and historical core sampling program this spring on the Richardson Lake property block has generated encouraging gold values for follow-up exploration. The block borders the recent Springpole Lake gold discovery

property held by Gold Canyon Resources.

Grab and chip sampling of surface outcrop and trenches located 200 to 700 metres along strike to the west of the historic Richardson Lake Discovery Zone showing has returned assays indicating consistently anomalous gold values with grades of up to 3.89 grams per tonne. Grab sampling of previously un-split core from historic drilling of the zone have also generated anomalous gold values. These recent results continue to support the presence of an open zone of gold mineralization hosted in tectonic breccia trending to the west, rather than to the south as historically believed.

In addition, surface grab sampling and prospecting on the Richardson Lake property along strike to the east of the past producing Argosy Mine, has identified anomalous gold values of up to 1.8 grams per tonne in quartz veins hosted in highly sericitized felsic volcanic rocks. The Argosy Mine property, presently held by a different party, produced 276,573 tons of ore grading 0.37 ounce per ton gold between 1934 and 1952. (One troy ounce equals 31.1034

grams, and one short ton equals 0.907184 metric tonnes.) Based upon these results, exploration is continuing on the Richardson Lake property block during July and August that will include follow-up prospecting and sampling and the completion of IP surveys on two cut-line grids west of the Discovery Zone and east of the Argosy Mine area. This work is necessary to define follow-up targets for diamond drill testing. The grab and chip samples were sent for geochemical analysis sealed in secure packages and shipped by bonded carrier to Activation Laboratories in Thunder Bay. The samples were assayed for gold by code 1A2 (gold by fire assay with AA finish) and by code UT-4 multielement analyses (total digestion and ICP-MS scan). The multi-element analyses remain pending. Activation Laboratories fulfilled standard QA/QC protocols. Polymetallic standards and blanks, unknown to the laboratories, are included with each submission of samples. The company's address is 67 Yonge St, Suite 808, Toronto, ON M5E 1J8, 416-368-2929, fax: 416-601-1450, email: [email protected].