AurCrest Gold Inc. Provides Update on Subsidiary Company's Strategic Partnership for Renewable Energy Project
April 19, 2018
Toronto, Ontario April 19, 2018 - AurCrest Gold Inc. (the “Company” or “AurCrest”) (TSX-V: AGO) (FRANKFURT: TM8A, WKN: A0YG1K) is pleased to provide an update on significant strategic partnership developments for its subsidiary corporation, Wiigwaasaatig Energy Inc. (“WEI”). WEI was established to develop partnerships with First Nations for the deployment of renewable energy infrastructure in remote First Nations communities and mining sites, and to operate the infrastructure in a sound manner for the benefit of the Company’s shareholders and development partners. WEI focuses on remote Ontario and Nunavut communities and sites, and principally in areas to which the parent Company bears a corporate social responsibility.
The AurCrest Executive have developed a business model for renewable energy deployment through WEI that incorporates the active participation of First Nations, respects the current landscape of electrical utility being developed by First Nations and government in Northwestern Ontario, and is capable of providing benefit to remote mine development sites. This model is the foundation for development and operation of WEI, which is itself an Aboriginally-driven corporation.
WEI and MobiSmart Mobile Off-Grid Power & Storage Inc. (“MobiSmart”) have embarked upon a strategic partnership to participate in a multiyear demonstration project of a combined-technology renewable energy generation system intended to provide stable electrical production in remote areas, for either diesel generation dependence reduction or reinforcement of existing radial transmission grid connections. The demonstration project relies on MobiSmart’s already-proven vertical axis wind turbine systems and solar panel systems, coupled with integral battery storage and system controls, to produce a ready-to-connect renewable energy generation package. WEI has engaged local First Nations on a potential partnership to mobilize, commission, operate and maintain the demonstration units, to demonstrate their use in restricted-grid infrastructure environments as well as fully diesel-dependent remote environments.
Through this strategic partnership, WEI and MobiSmart will endeavour to deploy four (4) demonstration units at two different First Nation sites and two mineral exploration sites in Northwestern Ontario to demonstrate the utility of the combined technologies that MobiSmart is moving toward commercialization.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
AurCrest Gold Inc.
President and C.E.O
Director of Business Development
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.
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