Crescent Resources Corp.

Crescent Resources Corp.

November 15, 2005 14:29 ET

Crescent Resources Receives Positive AMEC Exploration Report on Matupa Gold Project, Brazil

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 15, 2005) - Crescent Resources Corp. ("Crescent") (TSX VENTURE:CRC) is pleased to announce that it has received a positive exploration report from AMEC (Peru) S.A. ("AMEC") on its Matupa Gold Project in Mato Grosso State, Brazil. AMEC has designed a 4,000 metre drilling program that will test many of the known targets on the property with the objective to augment the existing resource outlined at the area known as Serrinha-2 West. Crescent is currently in discussions with drilling contractors and plans to commence drilling in December 2005.

Crescent contracted AMEC to conduct an independent Geological review of the Matupa Gold Project and to assist in identifying drill targets and preparing a drill plan. All available data was reviewed by AMEC including a seven day site visit when most of the numerous artisanal mine workings were visited and diamond drill core from previous operators was examined. The AMEC report concludes that gold mineralization on the property is genetically and spatially related to altered syenite dikes, dike swarms and small stocks which intrude the older monzogranite pluton known as the Matupa Granite. Although the syenite dikes are the preferred host, the gold mineralization also occurs in the Matupa Granite as well as aplite and pegmatite dikes. The AMEC report also points out that that previous exploration work on the property (by Western Mining and RTZ) was focused on the series of small hills on the southwest side of the property and that less than half of the Matupa Gold Project has been subject to systematic exploration. AMEC designed a 4,000 metre drilling program that will test many of the known targets on the property. The targets have the potential to augment the existing resource outlined at the area known as Serrinha-2 West. In addition, the drilling program will test at least 15 other targets, mostly significant historic garimpo workings on the flat areas surrounding the hills.

Crescent can purchase a 100% interest in the Matupa property from the owners.

Michael J. Hopley, President and CEO of Crescent, is the qualified person, as defined in NI 43-101, and is responsible for the preparation of the information contained in this news release.

Crescent Resources is a resource exploration and development company with a defined growth strategy of adding value through discovery and rapid project advancement through exploration. Crescent is currently focused on the exploration of the Matupa Gold Project in Mato Grosso State, Brazil and the Boulder Lake Uranium Project in northern Manitoba. These projects were acquired based on management's belief that they have the potential for further discovery and growth. The Company has 16.5 million shares common shares outstanding.


Michael Hopley, President and Chief Executive Officer

WARNING: The Company relies on litigation protection for "forward looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company.

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

Contact Information

  • Crescent Resources Corp.
    Don Halliday
    Vice President Corporate Development
    (604) 899-1505