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

Crescent Gold Limited

April 30, 2008 04:29 ET

Crescent Gold Limited: Quarterly Report 31 March 2008

PERTH, WESTERN AUSTRALIA--(Marketwire - April 30, 2008) - Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

HIGHLIGHTS FOR THE QUARTER ENDED 31 MARCH 2008

- Hedge restructure - Crescent now has no committed gold and down side protection at $850 and $860.

- The original Phase 1 stage of Sickle is completed to final design of 440mRL with plans to extend to higher grade zones at 425mRL.

- Mining exceeded total material movement targets for January and February.

- Significant improvement in production throughout the quarter.

- Increased and upgraded Mineral Resource for the Craggiemore deposit of 1.5 Mt at 1.6 g/t Au for 84,000 ounces of Indicated +Measured.

- High-grade intersection of 16.4m @ 12.4g/t Au from 157.6m at Bells deposit.

- SA government has granted 29 ELs to Sturt Joint Venture covering 27,887 km2 of shallow sediments highly prospective for roll-front style uranium. Preparations for drilling of untested gamma anomalies in old petroleum wells within these granted tenements are well advanced.

- Cocky Swamp (Cu-Au-U), deep diamond drill hole at 519.6 m (end of quarter) approaching a large geophysical target at a depth of 920 m.

To view an image of Gold Bars - Laverton Gold Project please view the following link: http://media3.marketwire.com/docs/goldbars-lavertongoldproject.pdf.

The full quarterly report can be viewed on the company's website at www.crescentgold.com or at www.sedar.com along with additional information related to the Company.



SHARE INFORMATION
ASX Share Price: A$0.26
Issued Shares: 589.8m
Market Cap: A$153.4m
Options unlisted: 30.2m

FULLY DILUTED BASIS
Shares: 620.0m

RESOURCES
Indicated: 0.97m ozs
21.3mt
1.5g/t

Inferred: 0.49m ozs
10.5mt
1.4g/t

RESERVES
Probable: 0.40m ozs
7.6mt
1.7g/t

RESOURCE
Market Cap/oz: A$105/oz
EV / oz: A$46/oz

RESERVE
Market Cap/oz: A$388/oz
EV / oz: A$171/oz


ABN 49 087 360 996

Contact Information