Crescent Resources Corp.

Crescent Resources Corp.

October 17, 2007 14:50 ET

Crescent Resources Assigns Boulder Lake Uranium Property, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2007) - Crescent Resources Corp. (TSX VENTURE:CRC) has assigned all of its rights, title and interest in the Boulder Lake Property, Manitoba, to Longview Capital Partners Incorporated ("Longview"). Under the terms of the agreement Longview has the right to assign all the rights and interests to a "Newco" within 30 days. On the assignment of the Boulder Lake Property to Newco and Newco completing a qualifying transaction within a further 90-days Crescent will be issued 2,000,000 common shares of Newco.

Management of Crescent has chosen to focus its financial and management resources on the Oviedo Uranium Project ("Oviedo") in Paraguay where a 20,000 metre open hole drill program is underway. On October 15, 2007 Crescent announced that the third drill hole completed to date at Oviedo successfully intercepted a typical uranium mineralized roll front structure, similar to those found at Cue Capital's Yuty Project also in Paraguay and in the Powder River Basin projects in Wyoming.

Crescent can earn up to a 70% interest in Oviedo pursuant to an agreement with the owner operators as fully described Crescent's November 3, 2006 news release.

Crescent is a mineral exploration and development company with a defined growth strategy of adding value through discovery and rapid project advancement through exploration. In addition to the Oviedo project Crescent also has the Matupa Gold Project in Brazil. These projects were acquired based on management's belief that they have the potential for further discovery and growth. The Company has 26.8 million common shares outstanding.


Michael Hopley, President and Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

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