Pinecrest Resources Ltd.

Pinecrest Resources Ltd.

May 22, 2014 Vancouver, British Columbia: Mr. Edward Farrauto, CEO of Pinecrest Resources Ltd. ("Pinecrest" or the "Company") is pleased to announce that the Company has signed non-binding letters of intent with Red Back Mining Ghana Limited ("Red Back") a wholly- owned subsidiary of Kinross Gold Corporation ("Kinross") (TSX: K; NYSE: KGC) and Edgewater Exploration Ltd. ("Edgewater") (TSXV:EDW), to acquire 100% of the legal and beneficial ownership of the Enchi Gold Project (the "Project") located in South West Ghana (collectively the "Transaction"). The Project is currently the subject of a joint venture between Red Back (49% interest) and Edgewater (51% interest).

Highlights of the Transaction

Featherstone Capital Advisors

Featherstone Capital has a unique combination of geological, corporate structuring, and financial engineering expertise. Using their own financial and intellectual capital, they focus on the development of high quality, mineral assets sourced from their extensive, world-wide contact base including senior and junior mining companies. Featherstone understands that successful development demands focus and experience in order to build a mining company that generates sustainable wealth over the long term. (www.featherstonecapital.com)