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

Crescent Gold Limited

January 30, 2008 22:42 ET

Crescent Gold Limited: Visible Gold Intersected at Laverton in Diamond Drill Core

Exciting high grade visible gold intercept at Bells

PERTH, AUSTRALIA--(Marketwire - Jan. 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.

Crescent Gold advises that it has observed visible, high grade gold in diamond drill core from the Bells deposit, located 5kms south of the Company's Laverton Gold plant.

Diamond drill hole BED003 intersected 15 metres (from 157.9m) of highly altered chert, carbonaceous shale and massive sulphides, including a zone of laminated quartz with significant visible gold (refer to photograph). Core samples are currently being prepared for analysis. The hole was designed to provide structurally orientated core samples from a high grade zone previously defined by Crescent using RC drilling.

The mineralisation at Bells closely resembles ore mined at Ida H, located 2km to the south along the Barnicoat shear zone. Previous production at Ida H totalled 180,000 ozs at 22.8g/t. The zone is open at depth and further drilling is being planned.

Selected previously reported RC drill intersections from Bells:



--------------------------------
Width Grade From Hole
--------------------------------
11m 7.1 g/t 155m BERC013
--------------------------------
4m 6.9 g/t 15m BERC010
--------------------------------
6m 5.1 g/t 84m BERC010
--------------------------------
7m 4.0 g/t 65m BERC005
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5m 4.4 g/t 25m BERC004
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To view the photos accompanying this press release please click on the following link: http://www.ccnmatthews.com/docs/CrescentPhotos.pdf.

Further information relating to Crescent Gold can be viewed at www.sedar.com or on the Company's website at www.crescentgold.com.

Regards

Crescent Gold Limited

Roland Hill, Managing Director, Acting Chairman

"The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Neal Leggo, who is a Member of The Australian Institute of Geoscientists. Neal Leggo is an employee of Crescent Gold Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and a "Qualified Person" under Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects. Neal Leggo consents to the inclusion in the report of the matters based on his information in the form and context in which it appears."

In accordance with the requirements of Canadian National Instrument 43-101 further information on the geology and mineralising setting can be found within the "Independent Technical Report on the Laverton Gold Project Western Australia" which is available on SEDAR (www.sedar.com) or the company's website www.crescentgold.com.



SHARE INFORMATION

ASX Share Price: A$0.37
Issued Shares: 589.8m
Market Cap: A$218.2m
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$149/oz
EV/oz: A$91/oz


RESERVE

Market Cap/oz: A$553/oz
EV/oz: A$335/oz


Contact Information

  • Crescent Gold Limited - in Australia
    Roland Hill
    +61 8 6380 7100
    or
    Crescent Gold Limited - in Australia
    Hayley Patton
    +61 8 6380 7100
    +61 8 6380 7199 (FAX)
    Email: info@crescentgold.com
    Website: www.crescentgold.com