Goldcrest Resources plc                            

                            ("Goldcrest" or the "Company")                         

    11 January 2017

             Correction Re Issue of Equity and Change of Corporate Adviser         

    The announcement of yesterday, 10 January 2017 contained inaccuracies as
    follows:

    The Company stated that Taoudeni Resources Ltd holds the Company's Asheba Gold
    Project ("Asheba"). In fact, Asheba is held by the Company's wholly owned
    subsidiary, Ensign Resources Ltd, an Isle of Man company.

    There remains a small loan of approximately £20,000 owing to Starvest plc.

    The disclosable interests on completion of the issue of equity were not
    accurately stated.

    The re-stated announcement is as follows:

                    Issue of Equity and Change of Corporate Adviser                

    The Company announces that it has raised £217,000 before expenses through the
    issue of 86,800,001 new ordinary shares of 0.05p at a price of 0.25p each.
    Funds will be utilised for working capital purposes as the Company seeks to
    progress its existing and future interests.

    Additionally, the Company announces that a conversion notice has been sent to
    Pelamis Investments Ltd, being sole owner of the Convertible Loan Note, as
    announced 5th December 2016. The £70,000 will be fully converted into equity of
    the Company through the issue of 28,000,000 new ordinary shares of 0.05p each,
    also at 0.25p each per share.

    Furthermore, the Company announces that it has agreed to settle £121,300 of
    liabilities through the issue of 48,520,000 new ordinary shares of 0.05p, again
    at 0.25p each per share. The Company is now debt free, save for a small loan of
    approximately £20,000 outstanding and owing to Starvest plc, and accordingly,
    the balance sheet has been strengthened, leaving the Company in a strong
    position to focus on Ensign Resources Ltd, the Company's 100 per cent. owned
    subsidiary, which holds the Company's flagship and prospective Asheba Gold
    Project ("Asheba"), located in Ghana. The Company is now also in a strong
    position to seek out other prospective gold projects.

    Appointment of Corporate Adviser and Broker

    The Company is pleased to announce the appointment of Peterhouse Corporate
    Finance Ltd as its NEX Exchange Corporate Adviser and Broker with immediate
    effect.

    On completion of the placing, the following disclosable interests in the share
    capital of the Company are as follows:

    Name                       Amount of Ordinary             Percentage                
                               Shares                                                   
                                                                                        
    Hot Rocks Investments plc* 18,788,379                     9.16                      
                                                                                        
    Woodland Capital Limited*  14,401,167                     7.02                      
                                                                                        
    Gavin Burnell*             26,839,158                     13,08                     
                                                                                        
    Peterhouse Corporate       4,000,000                      1.95                      
    Finance Ltd                                                                         
                                                                                        
    Gledhow Investments plc    10,800,000                     5.26                      
                                                                                        
    Plutus Strategies Limited* 10,947,273                     5.33                      
    *                                                                                   
                                                                                        
    Jeremy Edleman             10,000,000                     4.87                      
                                                                                        
    Bailee Holding Ltd         10,000,000                     4.87                      
                                                                                        
    Pelamis Investments Ltd*** 40,000,000                     19.49                     
                                                                                        
    SVS (Nominees) Ltd         10,449,449                     5.09                      

    *        Gavin Burnell is the managing director of Hot Rocks Investments plc
    and Woodland Capital Limited.

    **      Plutus Strategies Limited is owned 50 per cent. by Paul Haywood, a
    director of the Company and 50 per cent. by Niall Tomlinson, a director of the
    Company.

    ***  David Steinepreis owns 39 per cent. of Pelamis Investments Ltd.

    Paul Haywood, Managing Director commented: "The past year has been a
    challenging time for the company and I would first like to thank all those that
    have supported us to date and those that will be supporting the Company going
    forward. The restructure, strengthening of the Board and raising of additional
    capital perfectly positions the Company to now execute its growth plans and we
    look forward to updating the market on associated actions in due course".    

    Following the issue of the 163,320,001 new ordinary shares, Goldcrest has
    205,223,308 Ordinary Shares in issue, which also represents the total number of
    voting rights in the Company. This figure should be used by shareholders as the
    denominator for the calculations by which they will determine if they are
    required to notify their interest in, or a change to their interest in, the
    Company under the FCA's Disclosure and Transparency Rules. 

    The Directors of the Issuer accept responsibility for this announcement.

    For further information please contact:

                                                                                      
    The Company                                                                       
       Paul Haywood, Executive Director                           +44 (0) 20 3053 3631
    paul@goldcrestresourcesplc.com                                                    
                                                                                      
    NEX Exchange Corporate Adviser                                +44 (0) 20 7469 0930
    PETERHOUSE CORPORATE FINANCE LIMITED                                              
    Guy Miller                                                                        
    Mark Anwyl