Creso Exploration Inc.
TSX VENTURE : CXT
FRANKFURT : C3X
OTCQX : CRXEF

Creso Exploration Inc.

August 17, 2011 14:16 ET

Creso Announces Drill Results From the Tyrrell, Porphyry Lake, Hare Lake, and Matona Zones at Shining Tree

MONTREAL, QUEBEC--(Marketwire - Aug. 17, 2011) - Creso Exploration Inc. ("Creso" or the "Corporation") (TSX VENTURE:CXT) (OTCQX:CRXEF) (FRANKFURT:C3X) is pleased to announce the results of eight diamond drill holes totaling 1393 meters completed at the Tyrrell, Porphyry Lake, Hare Lake, and Matona options (Figure 1 and 2: http://media3.marketwire.com/docs/Figures_1_2.pdf). The results include HR11-01 from 77.0 to 78.5 meters (1.5 meters) grading 33.1 g/t Au (Table 1). Note true widths are uncertain in the intervals shown below.

Table 1 - Results from diamond drilling in the Shining Tree District.

Drill Hole From To Length Grade Comments
Number meters meters meters g/t Au
Tyrrell Option
TL11-01 No Significant Intercepts 122m Total Depth ("TD")
Porphyry Lake Option
PL11-01 211.4 214.4 3 4.013 233m TD
PL11-02 99.6 142.9 43.3 0.415 149m TD
including 136.6 142.0 5.4 1.282
Hare Lake Option
HR11-01 58 62 4 1.53 251m TD
77 78.5 1.5 33.1
HR11-02 26 27 1 4.48 149m TD
Matona Option
MT11-01 No Significant Intercepts 59m TD
MT11-02 No Significant Intercepts 125m TD
MT11-03 66 69 3 5.85 305m TD
102 113 11 2.98

The HR11-01 high grade intercept of 33.1 g/t Au over 1.5 meters on the Hare Lake option ground appears to occur along a N10W structure, at the intersection with a cross cutting N60E structure, and may be indicative of a broader zone of mineralization at depth. This occurrence, as well as numerous other similar, and somewhat isolated, high grade gold occurrences occur throughout the Shining Tree District and will require ongoing geologic evaluation to determine the true potential of this district.

After review of the results of the Matona mineralization, as shown in Table 1, the Company has decided not to continue the option agreement with the underlying property owner and has returned the property.

The Company continues to receive and review the results of channel sampling in the West Shining Tree area and is evaluating the possibility of future additional drilling in that area, particularly in the Churchill-Gold Corona-Pet vein zone covered by the joint venture with Platinex Inc. Additional drilling is also being considered in the Tyranite and Minto zones in the east part of the Shining Tree District.

This Press Release has been reviewed and approved by Mr. Alex Kutah, M. Sc, P. Geo., the Qualified Person under National Instrument 43-101.

Creso Exploration QA/QC procedures follow standard industry practices. Sealed core boxes are transported twice daily from the drill rig to the core logging facility by qualified Creso personnel. Core is logged and prepared for sampling in a secure building. Sample intervals are selected according to geologic contacts, visible mineralization, and alteration. Drill core is cut along a center line using a typical circular rock saw designed for core cutting. Sampled core is placed into sample bags, sealed and shipped to an assay lab that follows the ISO 9000 series of Quality Management standards. All samples were analyzed for gold and other trace elements at ALS Group Ltd. laboratories by standard industry procedures. These procedures include gold by fire assay-AAS finish, with follow-up gold analyses by fire assay-gravimetric finish and/or metallic screen. Multi-element analysis is done by ICP (ME-MS61) using a four-acid digestion.

Blank and certified standard samples are routinely submitted with all sample batches sent to the lab for assay. In addition, replicates, duplicates, and field duplicates are routinely included in sample batches. Samples with visible gold, are analyzed with procedures designed to reduce the variability of the sample results. And finally, samples are routinely sent to other labs for additional checks.

About Creso

The Corporation's principal mining exploration holdings are located in the Shining Tree mining camp of Northern Ontario within 100 km of the Timmins and Kirkland Lake mining camps, and additional interests are held in base metal properties in Guatemala.

FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward- looking statements as a result of numerous factors, some of which may be beyond the Corporation's control. These factors include: results of exploration activities, general market and industry conditions, and other risks disclosed in the Corporation's filings with Canadian Securities Regulators.

Forward-looking statements are based on the expectations and opinions of the Corporation's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Depending on exploration results and available financing, the Corporation may at any point modify the suggested work program for 2011.

Neither 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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