Crescent Gold Limited
ASX : CRE
TSX : CRA
FRANKFURT : CRE5

Crescent Gold Limited

July 30, 2009 05:03 ET

Crescent Gold Limited: Quarterly Report 30 June 2009

SUBIACO, WESTERN AUSTRALIA--(Marketwire - July 30, 2009) - Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Crescent Gold Limited is pleased to report that it has filed its 30 June 2009 Quarterly Report.

Highlights for the Quarter Ended 30 June 2009

- On 15 June 2009, the Company announced the signing of an Ore Purchase Agreement with subsidiaries of Barrick Gold Corporation in relation to the purchase by Barrick Gold Corporation of Crescent's Laverton gold ore and its proposed batch treatment through Barrick's Granny Smith mill.

- The Company continues with development of its Laverton Gold assets north of Kalgoorlie in WA, with a view to recommencing production in the final quarter of the calendar year 2009.

- Crescent prepares to commence mining activities.

- Crescent completes the mining and technical services staff appointments for the Laverton mining operations.

- Mining contract awarded and successful tenderer prepares for mobilisation to Laverton in advance of mining commencement.

- Development team finalises first phase of production pits and commences assessment of second phase of deposits for ore source delivery into the Ore Purchase Agreement.

- Project development within time and budget.

- Crescent Gold's cash position at the end of June 2009 was A$18.0 million, with no debt.

- Crescent Gold maintains a A$4 million investment in listed South Australian based mineral ands producer Australian Zircon.

- Laverton gold exploration expenditure maintained at a prudent level whilst development work is progressed.

- Crescent continues to assess Laverton consolidation opportunities.

- Initial manganese resource definition program undertaken at Mt Lucky (WA).

- Successful awarding of WA Government co-funded exploration grant of A$45k to the Mt Lucky Project for funding of diamond drilling.

- Specific targeted drilling programs continue on the Sturt JV Uranium Project in South Australia with encouraging results supported by positive radiometrics.

- Uranium exploration reduced to discreet project activities for the second quarter of 2009 whilst previous data from 2009 program is analysed. Drilling commenced on Queensland tenements subsequent to the end of the quarter.

The full Quarterly Report and additional information on the Company is available at www.sedar.com or on the Company's website at www.crescentgold.com.



ASX Code: CRE
TSX Code: CRA
FFT Code: CRE5

SHARE INFORMATION

ASX Share Price: A$0.135

Issued Shares: 590.9m

Market Cap: A$79.8m

Unlisted options
and convertible
notes: 42.1m

FULLY DILUTED BASIS

Shares: 633.0m

ABN 49 087 360 996


Contact Information

  • Crescent Gold Limited - Australia
    Roland Hill
    +61 8 6380 7100
    or
    Crescent Gold Limited - Australia
    Jo-Ann Wellstead
    +61 8 6380 7100
    +61 8 6380 7199 (FAX)
    or
    Crescent Gold Limited - Canada
    Renee Brickner
    +1 604 802 6806
    info@crescentgold.com
    www.crescentgold.com