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

Crescent Gold Limited

August 07, 2006 09:30 ET

Crescent Gold Limited: New Copper Drill Results-9m at 0.7% Copper & 0.7 g/t Gold

PERTH, AUSTRALIA--(CCNMatthews - Aug. 7, 2006) - Now that Crescent (TSX:CRA)(ASX:CRE)(FWB:CRE5) has completed the bulk of its reserve drilling at the Laverton Gold Project (reserve updates pending), the company has begun investigating a 6km long copper - gold soil anomaly situated on 100% owned tenements at Laverton (refer Figure 1). Assay results from RC drilling have returned values up to 7% copper within a large mineralised zone (up to 62m down hole with visible sulphides).

Given the extent of the soil anomaly and the width/tenor of intersections, the area has the potential to host a significant resource.

This lies below the gold zone which is part of the company's Laverton Gold Project mine schedule (refer Figure 2).

Significant Cu-Au mineralisation has been intersected from two RC drill holes that penetrated this copper rich zone:



------------------------------------------------------
Width Cu (Eq) Cu Au From
(m) (%) (%) (g/t) (m) HOLE ID
------------------------------------------------------
20 0.5 0.4 0.3 84
---------------------------------------------- CL157
(Inc.) 3 1.3 1.1 0.6 92
------------------------------------------------------
9 0.9 0.7 0.7 72
---------------------------------------------- CL230
31 0.4 0.4 0.2 94
------------------------------------------------------
A full listing of results is detailed in Table 1
(downhole lengths reported - true widths will be determined).


Previous drilling indicates that the zone extends over a strike length of 1.5km and to a depth of 300m and remains open within 100% owned Crescent leases.

Better intersections recorded from previous drilling includes:

38m at 0.9% Cu eq (0.8% Cu and 0.2 g/t Au) from 88m

Includes:

8m at 3.2% Cu eq (3.1% Cu and 0.4 g/t Au) from 93m

Details of these results are shown in Table 2 (downhole lengths reported - true widths will be determined).

The company is re-assaying selected RC holes which have penetrated the copper rich zone and further drilling is being planned.

For full details please refer to the company website www.crescentgold.com and www.sedar.com.

Regards

Crescent Gold Limited

Andrew Haythorpe, Managing Director



SHARE INFORMATION

ASX Share Price: A$0.36
Issued Shares: 218.0m
Market Cap: A$78.5m
Options unlisted: 30.1m

FULLY DILUTED BASIS

Shares: 248.1m
Cash on dilution: A$5.6m
Current Cash(ii): A$6.0m

ENTERPRISE VALUE

EV: A$72.5m
EV / oz reserve: A$248/oz
EV / oz resource: A$55/oz

RESOURCES

Measured: 0.07m ozs
0.9mt
2.5g/t
Indicated: 0.63m ozs
13.4mt
1.4g/t
Inferred: 0.69m ozs
15.2mt
1.4g/t
Market Cap/oz: A$57/oz

RESERVES

Probable: 0.29m ozs
Market Cap/oz: A$269/oz

ABN 49 087 360 996

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


Contact Information