TORONTO, ONTARIO--(Marketwired - Oct 14, 2015) - AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX VENTURE:AGO) is pleased to announce the formation of Wiigwaasaatig Energy Inc., a wholly-owned subsidiary of AurCrest incorporated to fulfill a portion of AurCrest's ongoing commitment for consultation and accommodation with First Nation communities devolved to mining exploration companies by the Crown in the Right of Ontario as certain procedural aspects of mining exploration. The new subsidiary will focus on corporate social responsibility to First Nations by building partnerships based on mutual understandings and that are considerably beyond the requirements of the mandated responsibilities.
The objective of Wiigwaasaatig Energy is to develop strategic partnerships for the development of wind energy infrastructure in remote First Nations communities and mine sites, and to efficiently operate that infrastructure in the mutual interests of the mineral exploration industry, First Nation development partners, power consumers and corporate shareholders alike. Those First Nation communities where AurCrest bears a corporate social responsibility in proximity to its Richardson Lake Property will be the initial focus of attention.
Wiigwaasaatig Energy will concurrently address the need to create socioeconomic growth and sustainable employment, within AurCrest's corporate mandate to explore and develop its Richardson Lake Gold property, through addressing the pressing need for renewable sources of electricity. This will clearly reduce the long-standing reliance on fossil fuel in regions where expensive diesel-based generation is the sole or predominant source of power, and meet AurCrest's responsibility to better accommodate the communities whose traditional territories are relied on for the discovery and development of the future mineral deposits that form such an important part of the Canadian economy. The creation of renewable source of electricity will provide some of the power needed for the exploration and future development of the Richardson Lake Property.
Wiigwaasaatig Energy is mandated to implement wind and renewable energy business structures in partnership with First Nation communities and the mineral exploration and development industry proximal to those First Nations. It will seek and maintain a majority of First Nations Directors, and grow its leadership and management from within the communities serviced.
AurCrest is in the business of Mineral Exploration and Development, though under expanding responsibility to respect the business, social, cultural and economic needs of its local partners and to foster meaningful participation, it endeavours to create leadership in Corporate Social Responsibility.
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 and Bridget Lake gold properties.
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.