Creso Exploration Inc.

Creso Exploration Inc.

July 05, 2011 11:00 ET

Creso to Explore Rich Silver Targets

MONTREAL, QUEBEC--(Marketwire - July 5, 2011) - Creso Exploration Inc. ("Creso" or the "Company") (TSX VENTURE:CXT)(OTCQX:CRXEF)(FRANKFURT:C3X) is planning a multiphase exploration program (including channel sampling and drilling) in the Gowganda Silver Area of Ontario. Creso has acquired ground in Morel, (59 sq, km) and Milner (51.6 sq, km) Townships by staking claims. The claims are 100% owned by Creso with no underlying royalties.

Of particular interest is a zone in a northerly direction (magnetic trends) as defined by recent airborne geophysical surveys. Six occurrences are documented (Bloom Lake trend) in Government records within the Creso claims, with occurrences reaching up to 46,000 g/t Ag:

Occurrences Au Ag Co Cu
1 5.5 g/t 600 g/t 0.3 to 0.9 % 11 to 14 %
2 411 g/t
3 0.1 % 7.7 %
4 21 g/t
5 4,500 g/t
6 12,000 g/t
6 46,000 g/t

The samples noted in the above table are select grab samples and do not represent average grade of mineralization, nor have these results been verified by Creso.

Silver mineralization, with associated cobalt-nickel-iron arsenides, occurs in carbonate veins, mainly in the Nipissing Diabase. New mineral targets are primarily northerly trending structures within the Nippissing Intrusions and related veining. Mineralization occurs as native metals, arsenides, sulphides, and oxides. The bulk of the silver is in the native state with minor native bismuth and gold. The arsenides are mainly the cobalt-nickel-iron varieties and the silver is intimately associated with them. Some 60,197,000 oz Ag, 1,329,000 lbs Co, 32,000 lbs Ni, and 73,000 lbs of Cu were recovered within the Gowganda district between 1910 and 1969. Two thirds of the reported metal production came from the O'Brian Mine, 1.4 km south of the Creso property south boundary. (Reference Geology of Gowganda Lake-Miller Lake Silver Area: District of Timiskaming; W.H. McIlwaine; 1978. OGS report 175).

Target mineralization occurs predominantly as veins in northerly trending Nippissing Diabase that intrudes earlier rock types and is controlled mostly by northerly trending structures. Remnants of an Early Precambrian metavolcanic belt occur as inliers in younger sedimentary and mafic igneous rocks, that occur marginal to and overlying the Round Lake Batholith. This metavolcanic assemblage, mainly mafic in composition, has subsequently been intruded by small serpentinized dunite bodies, granitic plutons, and diabase dikes. Granitic rocks are commonly trondhjemite and quartz diorite and represent two phases of intrusions at the southwest exposed extremity of the Round Lake Batholith. The later diabase dikes trend North, Northeast, and Northwest and represent the earliest manifestation of a fracture trend which to a large degree influenced subsequent events. Overlying sedimentary units of the Gowganda Formation are mostly feldspathic arenite, feldspathic greywacke, and paraconglomerate: The Lorrain Formation consists mainly of feldspathic and micaceous sandstones. Several sheet-like bodies of Nipissing Diabase, also with a northerly trend, intruded the earlier rocks. These are composed mainly of pyroxene gabbro with local granophyric phases in upper parts of the sheets.

Additional targets (see Fig. 1: are represented by Keating anomalies (localized magnetic highs/lows) that indicate disruptions (faults, alteration zones, veining) in the overall magnetic field (geological/rock type response).

Work planned in the next month includes locating Haultain, Morel occurrences, mapping and sampling of associated structures and vein systems, and a definition of mineral targets. This will be followed by a 43-101 compliant report.

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

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, and 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 Company'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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