Crescent Resources Corp.
TSX VENTURE : CRC

Crescent Resources Corp.

May 15, 2008 14:04 ET

Crescent Resources Outlines Matupa Gold Project Exploration Program for 2008

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2008) - Crescent Resources Corp. (TSX VENTURE:CRC) ("Crescent" or the "Company") announces exploration plans for the Matupá Gold Project in Brazil are expected to start by the end of June 2008. The Company is planning a minimum 3,000 metre diamond drill program designed to follow up on previous drilling by Crescent and major companies Western Mining and Rio Tinto. The Matupá Gold Project covers 6,000 hectares and is located in northern Mato Grosso State, Brazil in the northeast part of the Peixoto de Azevedo gold district. The property enjoys excellent infrastructure and year round operating conditions.

Crescent has compiled all historical data and is building a three dimensional model to gain a better understanding of the geometry of the gold mineralized zone which will assist in the planning of the upcoming drilling program.

SERRINHA 2 ZONE:

In 1999, Rio Tinto conducted exploration activities on a small part of the property known as Serrinha 2 including 4,337 metres of diamond drilling. Based on these results Rio Tinto estimated the potential in the Serrinha 2 area as being 17 million tonnes at an average grade of 1.3 g/t gold containing approximately 700,000 ounces of gold. (Note: This is an historical resource which is not NI 43-101 compliant and should not be relied upon).

Highlights of the drill results reported by Rio Tinto are as follows:



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Drillhole Interval (metres) Gold in g/t
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FSR-01 16.0 0.98
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FSR-03 12.4 2.01
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FSR-04 62.05 1.61
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FSR-05 49.54 1.24
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FSR-06 19.2 2.13
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FSR-07 37.37 1.20
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FSR-19 8.55 1.24
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FSR-24 29.75 0.83
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Note: The Rio Tinto assays are quoted from a report dated April 2000 and although they are considered relevant and reliable Crescent has not independently verified these assays.

Crescent acquired the project in 2005 and conducted an initial 4,000 metre diamond drill program in the spring of 2006 which yielded several significant gold intercepts confirming the potential for near surface gold deposits. Highlights of this work reported by Crescent are as follows:

SERRINHA 2 ZONE:


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Diamond From To Interval Gold
Drill Hole metres metres metres g/t
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MAT-001 0 14.00 14.00 1.88
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MAT-007 243.00 258.00 15.0 1.01
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MAT-008 20.00 29.00 9.00 0.64
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MAT-009 18.30 30.30 12.0 1.44
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MAT-010 83.50 91.00 7.50 0.55
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MAT-011 0.00 4.00 4.00 0.91
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MAT-012 22.50 40.50 18.0 1.17
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Due to some logistical difficulties related to the wet season many of the 2006 planned drill holes close to the most significant Rio Tinto holes in the Serrinha 2 area were not able to be drilled. The 2008 exploration and drill program will target these areas and others.

SERRINHA 1 ZONE:

The Serrinha 1 area is located approximately 2 kilometres northwest of Serrinha 2. In 2006 drill holes MAT-016, MAT-017 and MAT-018 were drilled at 75 metre spacings over a 150 metre strike length. This new area has been extensively mined at surface by artisanal (garimpo) miners but had not been previously drill tested. The results listed below show that there is potential for a near surface zone of disseminated gold mineralization at Serrinha 1, particularly in drill hole MAT-016 which intersected 12 metres grading 1.04 g/t gold in the upper saprolite zone and 31.5 metres grading 1.04 g/t gold deeper in the primary mineralization.



Diamond From To Interval Gold
Drill Hole Metres metres metres g/t
---------------------------------------------------------
MAT-016 0.00 12.00 12.00 1.04
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and 39.80 71.30 31.5 1.04
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MAT-017 0.00 4.00 4.00 1.27
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and 113.00 126.50 13.50 0.88
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MAT-018 0.00 4.00 4.00 0.78
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FILAO de CAPIM ZONE:

MAT-024 and MAT-026 tested an area known as Filao de Capim, a different type of target on the Matupá property, gold bearing quartz veins associated with a mafic dyke underneath old garimpo workings located approximately 3 kilometres east of the Serrinha 2 area. These two holes returned narrower intervals of higher grade gold.



Diamond From To Interval Gold
Drill Hole metres metres metres g/t
------------------------------------------------------------
MAT-024 30.00 32.00 2.0 3.57
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MAT-026 106.60 108.60 2.0 9.09
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Large parts of the Matupá property are covered in artisanal open-pit mine workings and there are significant occurrences of disseminated gold mineralization in this historically productive district. In addition, previous work by major companies has resulted in large amounts of high-quality data including encouraging drill results and a historical resource estimate.

Under the terms of the agreement with the owners Crescent can earn a 100% interest in the Matupá property.

Geology

Gold mineralization occurs on the Matupá property in association with blebs and clots of sulphide mineralization locally disseminated through Proterozoic age syeno-granites. The project lies within the overall setting of the Cahimbo Graben which is an important new focus of gold exploration in Brazil. The granitic rocks underlying the property show evidence of widespread alteration and outcrop to form a series of four small hills that form the southern limits of extensive artisanal workings that cover a large part of the property. These inactive artisanal workings extend over an area of approximately 2 by 5 kilometres and are focused mostly on the soft alluvial or highly weathered bedrock (saprolite) that cover the flat low-lying ground of the property. The artisanal mine workings are shallow, typically 2 to 5 metres deep and field evidence suggests that primary gold mineralization was discovered and mined beneath the alluvium and saprolite horizons in some locations.

About Crescent

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 Matupá Gold Project in Brazil, Crescent also has the Oviedo Uranium Project in Paraguay. These projects were acquired based on management's belief that they have the potential for further discovery and growth. The Company has 30.7 million common shares outstanding.

CRESCENT RESOURCES CORP.

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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