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

Crescent Gold Limited

March 10, 2010 20:27 ET

Crescent Gold Limited: Successful Completion of Second Ore Processing Campaign

PERTH, WESTERN AUSTRALIA--(Marketwire - March 10, 2010) -

Not for Distribution to United States newswire services or for dissemination in the United States.

Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5), the growing Australian gold miner and resources developer, is pleased to announce that it has successfully completed a second 50 day processing campaign through the Barrick Granny Smith Mill (BGSM) in which 22,658 ounces of gold and 7,707 ounces of silver were produced via an Ore Processing Agreement (OPA) between Crescent's Laverton Gold Operations and Barrick, near Laverton in WA (27,251 ounces were produced in the first campaign).

Crescent Chairman and Managing Director, Roland Hill, said this second campaign ensures that Crescent remains on track to sell the equivalent of more than 100,000 ounces of gold during Laverton's first 12 months of operation (or first 4 processing campaigns).

"The Laverton Operations is a great gold address and we have a great neighbour in Granny Smith. Both parties benefit from the OPA. Crescent has access to a world class processing facility, at a significantly lower cost than processing in-house - to deliver greater value to our shareholders, and Barrick gains from the efficiencies presented by increased plant throughput.

"We remain extremely confident in the growth potential at the Laverton Gold Operations – it encompasses more than 750sq kilometres of various mining, exploration and prospecting licences, and covers a well endowed portion of the Laverton Greenstone Belt, a region with several known gold deposits and a rich history of gold production.

"We have a well-funded, ongoing drilling programme that we expect will provide a reliable ore supply for our future mining, and to continue realising the synergies offered by the OPA," Mr Hill said.

Regards

Crescent Gold Limited

Mark Tory, CFO & Company Secretary

Additional information related to the Company is available for review at www.sedar.com or on the Company's website at www.crescentgold.com.

ABN 49 087 360 996

SHARE INFORMATION

ASX Share Price: A$0.16

Issued Shares: 620.0m

Market Cap: A$99.2m

Options unlisted: 37.4m

FULLY DILUTED BASIS

Shares: 657.4m

Contact Information

  • Crescent Gold Limited - Australia
    Roland Hill
    +61 8 6380 7100
    or
    Crescent Gold Limited - Australia
    Mark Tory
    +61 8 6380 7100
    or
    Crescent Gold Limited - Canada
    Renee Brickner
    +1 604 802 6806
    info@crescentgold.com
    www.crescentgold.com