Crescent Resources Corp.

Crescent Resources Corp.

May 17, 2011 08:30 ET

Crescent Resources Starts Drilling Program at the Uncle Sam Gold Project, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 17, 2011) - Crescent Resources Corp. (TSX VENTURE:CRC) announces that the Company's initial diamond drill program is now underway at the Uncle Sam Gold Project in the Tintina Gold Belt, Alaska. The project is located 110 kilometers southeast of Fairbanks, Alaska. This program will consist of approximately 2,100 meters of large diameter (HQ size) diamond drilling that will initially focus on two highly prospective gold targets, the Lone Tree and Wolf prospects. Crescent Resources is funding the program and Millrock Resources is the operator.

Lone Tree Prospect

Drilling will target a strong gold in soil anomaly that measures approximately 4,000 meters in length and up to 1,000 meters wide. Previous drilling by other operators has returned encouraging results such as drill holes USC-011, 19.22 meters averaging 2.03 g/t gold and USC-013, 6 meters averaging 1.79 g/t gold and 14 meters averaging 1.65 g/t gold. Management believes this area has not been fully or properly tested and will focus on expanding the area of gold mineralization and testing for extension at depth. Crescent Resources is funding the drill program and Millrock Resources is the operator of the program.

Wolf Prospect

Drilling will target another very strong gold in soil anomaly measuring over 2,000 meters in length and 1,000 meters in width that has returned encouraging results from previous operators such as drill hole USRC-22, 15.54 meters averaging 4.45 g/t gold and USR – 055, 13.72 meters averaging 1.34 g/t gold. This area has not been fully tested and the drill program will focus on confirming previous results, expanding the area of known mineralization and testing for extension at depth.

The drill intersections reported for the Lone Tree and Wolf prospects are from prior project operators. The Company cautions that the intersections have not been independently verified and it is not known if the reported intervals represent true widths. The planned drilling program is in part designed to determine and establish the structural orientation of the mineralized zones with greater certainty.

The Uncle Sam Gold Property

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 110 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 large 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.

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

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


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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