AurCrest Gold Inc. announced that it has received an exploration permit from the Ministry of Northern Development and Mines to further explore the Richardson Lake gold discovery in the Birch-Uchi belt of the Red Lake mining division located between the historic Pickle Lake and Red Lake Gold camps. The new permit is good for 3 years and covers up to 6,000 metres of diamond drilling, airborne and surface geophysics, sampling and mapping. The Richardson Lake discovery is associated with a quartz carbonate shear zone in an iron formation and occurs 150 metres away from an untested nose fold axis fault feature. The previously announced hole RL-12-007 intersected grades of 15 metres of 1.83 g/t, including 9 metres of 2.95 g/t, including 4.0 metres of 6.0 g/t, including 3.0 metres of 7.4 g/t and including 1 metre of 11.1 grams (previously discussed in the AurCrest April 30, 2012 News Release). In conjunction with these results, three high grade surface hand samples included 14.3 g/t, 12 g/t and 4.74 g/t gold along a similar westerly trend to the aforementioned drilling results. This favorable magnetic feature is approximately 1.5 km long and 200 metres wide and it is believed from these preliminary exploration results to represent a significant potential host for gold mineralization. The unsurveyed section of this feature continues for 7 kms to the west beyond the airborne geophysical survey completed by AurCrest, and remains on AurCrest property.

AurCrest Gold Inc. announced that it has filed with the Ministry of Northern Development and Mines for an exploration permit to carry out 6,000 metres of drilling, fly airborne geophysics and conduct ground based geophysics. Under the new Mining Act in Ontario, companies will be required to file for and receive a work permit before work may be carried out. This new law is currently at the voluntary election of the mining/exploration companies, and will be mandatory as of April 2013.

AurCrest Gold Inc. announced unaudited earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported net loss of CAD 73,682 or CAD 0.00 per share compared to CAD 419,076 or CAD 0.01 per share for the same period a year ago. For the nine months, the company reported net loss of CAD 990,444 or CAD 0.03 per share compared to CAD 726,160 or CAD 0.02 per share for the same period a year ago. Cash used in operating activities was CAD 605,877 compared to CAD 651,564 for the same period a year ago.