Crescent Resources Corp.

Crescent Resources Corp.

March 30, 2011 17:16 ET

Crescent Resources Closes Equity Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2011) - Crescent Resources Corp. (TSX VENTURE:CRC) ("Crescent" or the "Company") announces that it has closed a non-brokered private placement of 10,000,000 units at a price of $0.35 per unit for gross proceeds of $3,500,000. Each unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the subscriber to purchase one additional common share in the capital of the Company at a price of $0.50 until March 30, 2013. Finder's fees were paid in the form of $110,034 in cash and 314,382 non-transferable finder's warrants on the same terms as the private placement. The common shares issued, and any common shares issued pursuant to the exercise of share purchase warrants or finder's warrants prior to July 31, 2011 are restricted from trading until July 31, 2011.

The proceeds of the financing will be used to fund the 2011 exploration and drilling programs on the Company's Uncle Sam Gold Project in Alaska, as well as general corporate purposes.

About Crescent Resources Corp.

Crescent Resources is a 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.

Don Halliday   
President and Chief Executive Officer   

"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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