Creso Exploration Inc.

Creso Exploration Inc.

July 15, 2010 11:16 ET

CORRECTION FROM SOURCE/Creso Enters Into an Investor Relations Agreement With Octobaan IR Capital Inc.

MONTREAL, QUEBEC--(Marketwire - July 15, 2010) - A correction from source is being issued with respect to the press release issued on July 14 at 11:59 AM ET on Marketwire. The previous version included an incorrect number and name of issuer of options in the second paragraph. The number of options should correctly read 250,000 and the name of the issuer, Creso. The complete and corrected release follows.

Creso Exploration Inc. ("Creso" or the "Corporation") (TSX VENTURE:CXT) is pleased to announce that it has entered into an investor relations agreement (the "Agreement") with Octobaan IR Capital Inc. ("Octobaan"). Octobaan will assist Creso in working with members of the financial community, potential investors and current shareholders to keep them informed and up-to-date on Creso's activities.

The Agreement is for a term of one year. In consideration for the services of Octobaan, Creso has agreed to pay a fee of $5,000 per month. Creso shall also grant Octobaan 250,000 stock options of Creso at a price of $0.50 per share for a period of 2 years with no more than 1/4 of the options vesting in any three month period.

Octobaan is an investor relations company owned by Mr. Matthew Harrington and Mr. Douglas Murray, both of Ottawa, Ontario, Canada. Octobaan is not related to Creso, does not have any direct or indirect material interest in Creso or its securities, other than the stock options as described above. All matters reported herein are subject to TSX Venture Exchange approval.

The Corporation's principal mining exploration holdings are located in the Shining Tree mining camp of Northern Ontario within 100 km of the Timmins and Kirkland mining camps. The Corporation holds additional interests in base metal properties in Guatemala.

This release contains forward-looking statements that are based on beliefs of its management as well as assumptions made by and information currently available to management of the Company. When used in this release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", and the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in this release. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information in this press release is made as of the date of this press release, and Creso disclaims any intention or obligation to update or revise such information, except as required by applicable law.

Neither 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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