Creso Exploration Inc.

Creso Exploration Inc.

July 23, 2012 16:30 ET

Creso Grants Stock Option

MONTREAL, QUEBEC--(Marketwire - July 23, 2012) - Creso Exploration Inc. ("Creso" or the "Corporation") (TSX VENTURE:CXT)(OTCQX:CRXEF)(FRANKFURT:C3X). The Board of Directors of Creso has approved the granting of options for 200,000 common shares of the Corporation to Mr. Réjean Gosselin under the stock option plan of the Corporation. The options exercisable at $0.10 per option are subject to a 4 month hold period and have a term of 5 years.

Mr. Gosselin was elected to the Corporation's board of directors at the annual and special meeting of shareholders held on June 26, 2012.

Mr. Réjean Gosselin obtained a Master degree in geology from Université Laval in 1979. For more than 30 years, he has been a director and an officer of Canadian public mining companies. From 2003 to 2007, he was President of Dia-Bras Exploration Inc., and from February 2008 to June 2010, Chairman and Chief Executive Officer of Maya Gold & Silver Inc. Mr. Gosselin is still Chairman of Maya Gold & Silver Inc. Mr. Gosselin is also a member of the advisory committee of several public mining companies.

After the grant, the total number of outstanding options under the Corporation's plan is 7,665,000 or approximately 6% of the outstanding shares.

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.

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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