Creston Moly Corp.

Creston Moly Corp.

July 02, 2009 09:00 ET

Creston Moly Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 2, 2009) -


Creston Moly Corp. ("Creston") (TSX VENTURE:CMS) announced a non-brokered private placement of up to 30,000,000 units (a "Unit") at a price of $0.10 per unit. Each Unit will consist of one common share and one non-transferable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share in the capital of Creston at $0.15 per share for a period of 24 months from the date of issue of the Warrant.

Creston may, in appropriate circumstances, pay a finders fee in connection with the sale of the Units equal to 6% of the proceeds from the sale of Units, payable in cash or in Units at the option of Creston. The securities to be issued under the private placement shall be subject to a four month hold period, and the private placement is subject to the acceptance of the TSX Venture Exchange. Creston will use the net proceeds from the sale of the Units for general working capital purposes.

About Creston

Creston owns 100% of the Creston Molybdenum Deposit (Creston Project) located in Sonora, Mexico. An independent Pre-Feasibility Study, prepared by M3 Engineering & Technology Corporation of Tucson, Arizona ("M3"), estimated production, capital and operating cost parameters along with project economics, and considers both owner and contract mining scenarios.

On behalf of The Board

Jonathan W. George, President & CEO

Forward-Looking Statements

This document may contain "forward-looking statements" within the meaning of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this document and Creston does not intend, and does not assume any obligation, to update these forward-looking statements.

Forward-looking statements relate to future events or future performance and reflect Creston management's expectations or beliefs regarding future events and include, but are not limited to, statements with respect completion of the private placement and related matters. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Creston to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in Creston's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at Although Creston has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Accordingly, readers should not place undue reliance on forward looking statements.

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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