Pinecrest Resources Advances Enchi Gold Project, Ghana

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 27, 2015) - Pinecrest Resources Ltd. ("Pinecrest" or the "Company") (TSX VENTURE:PCR) is pleased to provide an update on activities on the Company's 100% owned Enchi Gold Project ("Enchi" or "the Project") in Ghana, West Africa.

Preliminary Economic Assessment ("PEA") Update

The Company recently announced the results of the owner operated PEA on the Enchi Gold Project. Highlights of the PEA at $1300/oz gold include: a Pre-Tax Net Present Value (NPV) at a 5% discount rate of $US 102 million and an Internal Rate of Return (IRR) of 33% (see March 2, 2015 News Release for further details and cautionary language http://www.pinecrestresources.com/). Pinecrest plans to evaluate a contract mining scenario which could enhance already robust Project economics while decreasing upfront capital requirements. Pinecrest has engaged WSP Canada to evaluate a contract mining scenario at the Enchi Project and we anticipate that this study will be completed by Q3/2015.

Ryan King, President stated: "On the back of announcing a positive PEA in March, 2015 the Company is reviewing opportunities to potentially reduce capital costs and maximize project economics. In addition to optimizing the PEA, field work is planned to begin in Q3/2015 on the 568 km² Project to define additional high priority targets for resource expansion drilling."

Metallurgical Test Work

Pinecrest is currently evaluating several options for advancing metallurgical test work on the Project. The work will be focussed on evaluating heap leach gold recoveries on oxide material. The PEA utilized 75% gold recovery for oxide and transitional material and 73% gold recoveries for sulphide mineralization. These recoveries are based on bottle roll testing and assumed similar process designs to other heap leach facilities in the region. Additional metallurgical testing will better define and optimize the kinetics associated with heap leach gold recovery on the Enchi project.