Crescent Resources Corp.

Crescent Resources Corp.

June 21, 2010 15:08 ET

Crescent Resources Returns Rattlesnake Hills Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 21, 2010) - Crescent Resources Corp. (TSX VENTURE:CRC) ("Crescent") has reached agreement with John Glasscock and Cowboy Exploration & Development, LLC (collectively "Cowboy") to return Crescent's interest in the Rattlesnake Hills Property, Wyoming to Cowboy and for Cowboy to accept shares for debt in respect of approximately $300,000 of liabilities accrued to May 31, 2010 for exploration services subcontracted to or otherwise funded by Cowboy.

The Company will seek approval from the TSX Venture Exchange to issue 3,000,000 common shares pursuant to a debt settlement, termination and mutual release agreement with Cowboy to extinguish all outstanding debts.

This settlement will allow the Company to preserve its cash for general corporate purposes and to investigate other potential acquisitions.


Michael Hopley, President and Chief Executive Officer

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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