Crescent Resources Corp.

Crescent Resources Corp.

March 01, 2011 08:02 ET

Crescent Resources Commences Intial Exploration Program at Uncle Sam Gold Project, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2011) - Crescent Resources Corp. (TSX VENTURE:CRC) ("Crescent") is pleased to announce that the Company's initial exploration program at its Uncle Sam Gold Project in Alaska has commenced. This program, budgeted at approximately $350,000, is designed to provide detailed geochemistry over large flat lying areas that have not been sufficiently tested by previous programs. These large areas lay between three ridges where the bedrock is exposed at surface or close to surface and where most of the work has been focused to date by previous operators. While numerous drill-ready targets and ore grade intercepts already exist along the exposed ridges, it is expected that the current work will result in additional new targets for a spring 2011 diamond drill program.

This phase comprises auger drill holes in a detailed grid at 100 meter, north-south spacing lines along lines 400 meters apart. The objective of the auger drilling is to obtain geochemical samples in the bedrock under the windblown overburden that varies from a few meters up to several meters in thickness over the large flat lying areas in the valleys. By testing through the overburden into the bedrock, Crescent and Millrock (operator of the exploration program) intend to develop many additional drill targets. As part of the program, a bulldozer will commence the preparation of drill pads on existing drill ready targets for the spring drill program.

Crescent executed a definitive agreement with Millrock Resources Inc. on December 15, 2010 whereby Crescent can earn a 100% interest in Millrock's rights to the property which is located 75 kilometers southeast of the city of Fairbanks. The project is an intrusion related gold target hosted in a similar age of intrusive rocks to those which host the Pogo Gold Mine approximately 60 kilometers to the east of Uncle Sam. A comprehensive exploration data package provided to Millrock by previous operators indicates that there are extensive anomalous areas defined by surface gold geochemistry and numerous significant drill intercepts that indicate strong potential for a large new gold discovery.

The technical information in this news release was reviewed by Michael Hopley, Crescent's Chairman, a Qualified Person as defined in NI 43-101.

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 17.6 million shares outstanding thereby providing its shareholders strong leverage to a successful exploration and drilling program.


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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