Crescent Resources Corp.
TSX VENTURE : CRC

Crescent Resources Corp.

January 14, 2008 18:23 ET

Crescent Resources Equity Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 14, 2008) - Crescent Resources Corp. ("Crescent" or the "Company") (TSX VENTURE:CRC) announces that it has closed a non-brokered private placement of 3,758,000 units at a price of $0.25 per unit for gross proceeds of $939,500. Each unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the subscriber to purchase one additional common share in the capital of the Company at a price of $0.35 until January 13, 2010. A finder's fee was paid in the form of 52,500 units on the same terms as the private placement and $24,375 cash. The common shares issued, and any common shares issued pursuant to the exercise of share purchase warrants prior to May 15, 2008 are restricted from trading until May 15, 2008.

Proceeds of this private placement will primarily be used for continued exploration and drilling on the Oviedo Uranium Property in Paraguay and the Matupa Gold Property in Brazil, as well as general corporate purposes.

Today the Board granted certain consultants 200,000 stock options pursuant to the Company's stock option plan for a five year term and an exercise price of $0.28, which is the closing price of the Company's stock on the date prior to the date of grant. The options granted will be subject to any applicable regulatory hold periods.

CRESCENT RESOURCES CORP.

Michael Hopley, President and Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

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