Crescent Resources Corp.

Crescent Resources Corp.

January 20, 2011 08:02 ET

Crescent Resources Releases Re-Calculated Assays From Uncle Sam Gold Project in Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 20, 2011) - Crescent Resources Corp. (TSX VENTURE:CRC) is pleased to report revised drill assay results from the Uncle Sam Gold Project in Alaska. Crescent recently executed a definitive agreement with Millrock Resources 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.

As a result of the prior exploration and drilling, numerous drill-ready targets exist on the Uncle Sam claim block. Crescent and Millrock are planning the 2011 exploration and drilling program which will include geochemical surveys, airborne high-resolution magnetic surveys and diamond drilling.

The following historical drill intersections have been re-calculated using a more recent industry standard 0.2 grams per tonne cut-off grade. As a result, several intersections show longer intervals of gold mineralization which demonstrate the potential for a large bulk tonnage gold deposit along with a higher grade component.

Drill Hole
USC-001   8.00   34.00   26.00   0.46
USC-001   184.00   199.93   15.93   1.08
USC-002   11.00   26.00   15.00   0.58
USC-002   84.00   92.77   8.77   1.09
USC-002   1.20   7.00   5.80   1.57
USC-010   50.00   60.00   10.00   1.55
USC-011   87.78   107.00   19.22   2.03
USC-013   74.00   88.00   14.00   1.65
USC-015   18.90   41.76   22.86   0.62
USC-018   106.98   119.79   12.81   0.98
USC-021   17.07   42.06   24.99   1.12
USR-052   51.82   62.48   10.67   0.60
USR-055   51.82   65.53   13.72   1.34
USR-056   92.96   99.06   6.10   1.15
USRC-06   16.76   38.10   21.34   0.59
USRC-07   24.38   29.87   5.49   4.94
USRC-22   21.34   36.58   15.24   4.45

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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