Crescent Resources Corp.
TSX VENTURE : CRC

Crescent Resources Corp.

October 19, 2010 18:00 ET

Crescent Resources Modifies Its Plans

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 19, 2010) - Crescent Resources Corp. (TSX VENTURE:CRC) ("Crescent" or the "Company") announced on October 13, 2010, among other things, that to fund the acquisition of the Uncle Sam property and the anticipated exploration programs, Crescent planned to undertake a non-brokered part and parcel private placement of up to 15,000,000 units (each a "Unit") at $0.20 per Unit on a post-share consolidation basis (as also announced on October 13, 2010). Each Unit will be comprised of one common share (on a post-share consolidation basis) and one-half of one common share purchase warrant, with each whole warrant to entitle the holder to purchase one common share (on a post-share consolidation basis) at a purchase price of $0.35 for a period of twelve months following closing.

Following discussions with the TSX Venture Exchange regarding regulatory requirements for the proposed transactions, the Company has decided to reduce the offering size of the private placement to up to 5,000,000 Units on the same terms and conditions.

All of the transactions, as amended, that were announced on October 13, 2010 remain subject to regulatory approval, and the share consolidation is also subject to shareholder approval.

CRESCENT RESOURCES CORP.

Michael Hopley, 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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