Crescent Resources Corp.

Crescent Resources Corp.

February 22, 2007 08:00 ET

Crescent Announces Board Appointments

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 22, 2007) - Crescent Resources Corp. (TSX VENTURE:CRC) is pleased to announce that G. Ross McDonald and Ian MacLean have joined its Board of Directors and have both been appointed to the Audit Committee with Mr. McDonald to serve as Chairman of the Audit Committee. In order to accommodate the appointment of two independent directors to the board and the Audit Committee, the number of the board of directors was increased from three to four and Rahoul Sharan tendered his resignation as a director. The Board thanks Mr. Sharan for his contribution to the Company in its early stage of development. Don Halliday remains a director but resigned from the Audit Committee.

Mr. McDonald brings the Company many years of experience in dealing with junior resource companies in various capacities, including Chief Financial Officer of Cardero Resources and subsequently Corriente Resources Inc. Mr. McDonald holds a Bachelor of Commerce degree from the University of British Columbia and has been a registered Chartered Accountant since 1968. He has held positions with Price Waterhouse in Canada and Australia, various private partnerships and public resource companies. Mr. McDonald is currently involved as a director of Fjordland Exploration Inc., Frontier Pacific Mining Corporation, Corriente Resources Inc. and Miranda Gold Corp. He is also Chief Financial Officer of Atna Resources and VP of Finance and Chief Financial Officer of Aura Gold Inc.

Mr. MacLean began his Investor Relations career in 1996 with Nevsun Resources. From 1999 to 2001 he was involved as an executive of the predecessor company to Everton Resources. In 2001 Mr. MacLean joined Bema Gold Corporation as the Manager of Investor Relations and has recently been appointed Vice President, Investor Relations. Mr. MacLean currently sits on the Board of Directors for Everton Resources and Rolling Rock Resources Corporation and has a Bachelor of Arts degree from Carleton University in Ottawa, ON, Canada.

Today the Board granted certain directors, officers, consultants and employees 900,000 stock options pursuant to the Company's stock option plan for a five year term and an exercise price of $0.55, 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 is a mineral exploration and development company with a defined growth strategy of adding value through discovery and rapid project advancement through exploration. The recently acquired Oviedo Uranium Project in Paraguay will be the primary focus for exploration and drilling in 2007 with additional exploration and drilling planned for the Boulder Lake Uranium Project and the Matupa Gold Project in Brazil. The Company has 25,683,779 shares common shares outstanding.


"Michael Hopley", President and Chief Executive Officer

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