Creso Exploration Inc.

Creso Exploration Inc.

June 09, 2010 12:38 ET

Creso Exploration Intersects 65.7 Meters of 18.2 g/t g and 79.6 Meters of 4.61 g/t Gold in Hole #2 on the Minto Project

MONTREAL, QUEBEC--(Marketwire - June 9, 2010) - Creso Exploration Inc. ("Creso" or the "Corporation")(formerly Willowstar Capital Inc.)(TSX VENTURE:WWM.H to become CXT) is pleased to announce that TSX Venture Exchange approved the listing of the common shares of the Corporation following the closing of the Qualifying Transaction (Press Release dated June 3, 2010). The trading of the Creso Exploration shares under the new symbol, "CXT" will commence on June 10, 2010.

Creso also announces drill results from the MINTO Project located half-way between Timmins and Sudbury in Ontario and approximately 30 kilometers South-West of NorthGate Minerals Corporation's Young-Davidson gold deposit. The 2009 NQ diamond drilling two-hole program best results are from Hole #2:

  1. 18.2 g/t Au over 65.7 meters from 49.3m to 115m, (7.9 g/t Au if cut at 31.1 g/t) including:

    33.2 g/t Au over 25.7 meters from 49.3m to 75m, (10.4 g/t Au if cut at 31.1 g/t) and
  1. 4.61 g/t Au over 79.6 meters from 132.4m to 212m, (3.35 g/t Au if cut at 31.1 g/t); including:

    20.7 g/t Au over 10.0 meters from 202m to 212m, (11.5 g/t Au if cut at 31.1 g/t).

In both zones, sampling is continuous with sample widths varying from 0.41m to 1.28m (averaging 1.0m) and grades varying from 487.9 g/t over 0.42m to 0.03 g/t over 0.73m. From surface geology the upper zone presents a true width of 30 meters. The bottom zone is new and no true width has been determined yet. According to JVX Ltd, the down-hole geophysical interpretation completed on the Minto property, indicates that the mineralized body extends in a north-west/south-east direction at a depth of 50 to 170 meters and is open at depth. The Corporation will drill a step-out hole for the purpose of further defining the location of the body using more down-hole geophysics. Hole #1, located 30m north of Hole #2 gave a value of 10.4 g/t over 0.5 meter from 31.6m to 32.1m, but failed to intersect the target zone.

According to Mr. Mike White, P. Geo., who supervises the project, gold is present in three different host rocks determined by visual and lithogeochemical analysis, namely: felsic rocks; mafic rocks and intermediate volcanic/breccias, within a potassium enriched northerly structural/quartz vein system, approximately 30m in width according to surface geology. The Minto Project is part of a substantial land package that has been consolidated by Creso over the last 12 months representing 280 square kilometers and which also includes the Tyranite Mine and the Duggan Zone.

The TYRANITE Mine is located 2 kilometers north of the Minto Project on a North-South structure and has been identified over a strike length of more than 1 kilometer. A shaft down to 1000 feet and more than 4500 feet of drifts on five levels explore the mine workings. The Tyranite Mine shows strong geological similarities and characteristics to the Duggan Zone such as a North-South trend located in proximity to a major intrusion. Between 1939 and 1942, 210,300 T grading 0.147 oz per tonne (5.0 g/t) Au were produced. An inferred historical resource of 472,000 T (428,000 mt) grading 6.9 g/t Au is estimated to exist in the underground workings (White 2007) **. A current 3D geological modeling of all Tyranite available data indicates that three out of five lenses plunge at depth and that the central and northern mineralized zones present a true width between 70 to 80 meters, the central one being still open at a depth of 350m.

The DUGGAN Zone located 1 kilometer to the west of the Tyranite Zone has the same characteristics: North-South trend located on the edge of a major intrusion. Creso, in its 2007 drilling campaign, has discovered a mineralized zone with sample grades in excess of 1 g/t Au over an average width of 80 meters and a strike length of 450 meters which appears to be open to the north at a depth of more than 200 meters.

For additional information on the Minto, Tyranite and Duggan properties, please refer to the 43-101 technical report available on

** Creso has not analyzed the assay results of the previous exploration results to verify the resource database and therefore, this historical estimate should not be relied upon. The previous estimate is not a current estimate made in compliance with National Instrument 43-101 and the authors are not treating this historical resource estimate as a resource or reserve within the meaning of National Instrument 43-101. The authors view this historical estimate as a conceptual indication of the potential size and grade of the resource.

Exploration program

In May 2010, Borehole Induced Polarization (BHIP) surveys were done on the Tyranite and Minto properties. Results from the Tyranite hole are not yet available. 3D conductivity and chargeability models from boreholes gradient IP data have been calculated for holes M-0901 and M-0902 on the Minto property.

The Corporation has completed down-hole geophysical testing on the MacMurchy property and intersected 7.4% nickel and 2 g/t platinum and palladium over one meter in hole D6-07 confirming the nickel potential of the area. The MacMurchy property is located in the southwest corner of the MacMurchy Township some 10 km SSW of the Minto property.

The Corporation is currently evaluating bids for an agreement for a 200-kilometer low level airborne (Mag, VLFEM, and radiometric) geophysical survey to cover the Minto, Tyranite and Duggan zone on a 30-metre spacing in order to define geological structures and mineralized zones. Upon completion of the geophysical survey, the Corporation will undertake a 5000-meter drill program on the Minto, Tyranite and Duggan properties.

Samples were assayed at the facilities of Swastika Laboratories of Kirkland Lake (Swastika, Ontario) a certified and accredited laboratory by a standard fire assay method. All samples with greater than 1.0 g/t Au were re-assayed by a pulp and metallics method. Above interval values are weighted averages.

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 mining camps and additional interests are held in base metal properties in Guatemala. Creso has approximately $4 million in working capital with no debt.

This press release was prepared by Dr. Marc Filion, Geol. Eng, President of Creso Exploration Inc., the Qualified Persons under National Instrument 43-101.

This release contains forward-looking statements that are based on beliefs of its management as well as assumptions made by and information currently available to management of the Company. When used in this release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", and the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in this release. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information in this press release is made as of the date of this press release, and Creso disclaims any intention or obligation to update or revise such information, except as required by applicable law.

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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