Crescent Resources Corp.
TSX VENTURE : CRC

Crescent Resources Corp.

September 01, 2011 08:00 ET

Crescent Resources Announces Additional Drilling Results at Uncle Sam Gold Project, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2011) - Crescent Resources Corp. (TSX VENTURE:CRC) ("Crescent" or the "Company") reports additional results from the first phase of drilling at the Uncle Sam gold project in the Tintina Gold Belt, Alaska. The project is located 65 kilometres southeast of Fairbanks, Alaska, 60 kilometres west of the Pogo Gold Mine and adjacent to a recent gold discovery reported by Sumitomo Metal Mining Co. Ltd. ("Sumitomo"). The work on Uncle Sam is being funded by Crescent and the exploration work is being managed by Millrock Resources Inc., (TSX VENTURE:MRO). Crescent has an option to earn a 100% interest in Millrock's rights to the Uncle Sam property subject to a royalty.

Lone Tree Prospect

Five diamond drill holes totaling 1,329 metres were recently completed at the Lone Tree prospect located in the northwest part of the Uncle Sam property. Drilling targeted a 500 metre by 250 metre portion of a larger gold-in-soil anomaly measuring approximately 4,000 metres by 1,000 metres. Previous historical drilling by other operators in the general area returned encouraging results such as drill holes USC-011, which contained an intersection of 19.22 metres averaging 2.03 g/t gold and USC-013, which contained 6.0 metres averaging 1.79 g/t gold and 14.0 m averaging 1.65 g/t gold. A summary of significant results follows:

Drill Hole From-metres To-metres Interval-metres Gold g/t Azimuth Dip
LT-001 112.68 119.48 6.80 1.06 180° -75°
LT-002 295.66 297.67 2.01 1.10 -90°
LT-003 74.58 78.33 3.75 1.12 180° -60°
LT-004 17.07 19.20 2.13 1.00 -90°
LT-005 59.44 93.27 33.83 0.58 -90°
Including 69.49 72.82 3.32 1.22
and 146.30 148.44 2.13 1.85

The listed gold intercepts at Lone Tree typically occur within thicker zones containing anomalous gold mineralization commonly associated with faults and fault zones. This is evident in LT-005 which intersected 33.83 metres grading 0.58 grams per tonne gold. Host rocks for mineralization include both metamorphic rocks (schist, gneiss) and, to a lesser extent, granitic intrusive rocks.

A property-wide soil geochemical survey designed to obtain data in areas not previously sampled was also completed as part of the 2011 program. Results are pending.

The Lone Tree area is one of three main previously defined areas of anomalous gold-in-soil occurring within the Uncle Sam project area (Lone Tree, Christmas, Wolf). Previous drilling in 2011 by Millrock and Crescent at the Wolf Prospect, located approximately 3.5 kilometres south of Lone Tree, encountered intercepts up to 11.40 metres averaging 4.86 grams per tonne gold (see news dated July 28, 2011).

Crescent can earn a 100% interest in the 31 square kilometre Uncle Sam project in an agreement signed with Millrock on December 15, 2010.

About Crescent Resources Corp.

Crescent is a mineral resource exploration company focused on the exploration of the Uncle Sam gold project in Alaska. Management will also continue to review other opportunities in the resource sector. The Company has 27.6 million shares outstanding thereby providing its shareholders strong leverage to a successful exploration and drilling program. Millrock presently owns approximately 5% of the issued and outstanding common shares of Crescent.

Notes:

  1. All drill holes reported are diamond drill holes.
  2. Drill intercept lengths only are reported in the tabulations as there is insufficient information to estimate true widths.
  3. All samples from the project were delivered by Millrock personnel to ALS Chemex, Fairbanks, Alaska for analysis.
  4. A description of the geology, sampling procedures, and the Company's laboratory Quality Assurance / Quality Control procedures are as described in the Company's most recent National Instrument 43-101 Technical Reports filed and dated November 8, 2010. This report is available on the Company's profile at www.sedar.com.
  5. The Qualified Person responsible for the release of this exploration information is Michael Hopley, Chairman of the Company.

CRESCENT RESOURCES CORP.

Don Halliday, President and Chief Executive Officer

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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