Crescent Gold Limited
ASX : CRE
TSX : CRA
FRANKFURT : CRE5

Crescent Gold Limited

January 05, 2007 09:30 ET

Crescent Gold Limited: Laverton Project Nearing Completion

PERTH, AUSTRALIA--(CCNMatthews - Jan. 5, 2007) - Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FWB:CRE5) has entered into the final stages of commencing its Laverton Gold Project. Construction and Grade control drilling was minimally impacted by the abnormally heavy rain (89mm for 24 hours) that commenced at site around 10am on January the 3rd.

On going deliveries, fabrication and final design work continued during the rain. Concrete and civil works, steel work and construction will be completed as soon as it is safe to do so.

Components of the newly purchased 3 stage crusher have arrived at Fremantle Port with the remainder expected to arrive shortly. Roads are now accessible and delivery to site is anticipated soon. As civil works are complete and the site is ready to receive the crusher, installation is expected within 2 weeks of the delivery.

Grade control drilling will resume at Sickle shortly. Progress to date and initial results have been very encouraging. Further details will be released once results from the initial program are compiled.

Laverton Gold Project

Crescent Gold is set to become one of Australia's significant gold producers with an estimated output rising above 90,000 ozs pa progressively over the next 12 months.

Crescent has more than doubled its resource at Laverton and established a Probable Reserve of 358,000ozs (6.2mt @ 1.8g/t) in 2006.

Information on Crescent Gold Limited and technical reports on the Laverton Gold Project can be found on the company's website www.crescentgold.com.

Regards

Andrew Haythorpe

Crescent Gold Limited

Managing Director



ASX Code: CRE
TSX Code: CRA
FFT Code: CRE5

SHARE INFORMATION

ASX Share Price: A$0.31
Issued Shares: 247.2m
Market Cap: A$76.6m
Options unlisted: 26.8m

FULLY DILUTED BASIS

Shares: 273.9m
Cash on dilution: A$5.4m
Current Cash(ii): A$7.0m

ENTERPRISE VALUE

EV: A$69.6m
EV / oz reserve: A$194/oz
EV / oz resource: A$49/oz

RESOURCES

Measured: 0.07m ozs
0.9mt
2.5g/t
Indicated: 0.88m ozs
18.7mt
1.5g/t
Inferred: 0.54m ozs
11.4mt
1.5g/t
Market Cap/oz: A$51/oz

RESERVES

Probable: 0.36m ozs
6.2mt
1.8g/t
Market Cap/oz: A$214/oz

CONTACT DETAILS

L5 89 St Georges Terrace
Perth WA 6000
Phone: +61 8 9322 5833
Fax: +61 8 9322 5866
info@crescentgold.com
www.crescentgold.com

ABN 49 087 360 996

(ii) Inc. A$2.4m Enviro' Bonds


Contact Information

  • Crescent Gold Limited - Australia
    Hayley Patton
    +61 8 9322 5833
    +61 8 9322 5866 (FAX)
    or
    Crescent Gold Limited - Canada
    Renee Brickner
    (604) 687-0072
    (604) 687-4770 (FAX)
    Website: www.crescentgold.com