Creston Moly Corp.

Creston Moly Corp.

February 28, 2008 09:02 ET

Creston Appoints Chief Operating Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2008) - Creston Moly Corp. ("Creston" or the "Company") (TSX VENTURE:CMS) is pleased to announce the appointment of Dr. Sadek E. El-Alfy, Ph.D, D.I.C., B.Sc., ARSM as its Chief Operating Officer. Dr. El-Alfy will be responsible for the ongoing development of the El Creston Molybdenum Deposit as well as building an operations management team to direct the development of El Creston.

Dr. El-Alfy has been serving as a member of Creston's advisory board since May of 2007. Dr. El-Alfy was, most recently, Vice President of Operations for Crystallex International Corporation for over 10 years. A 34 year mining veteran, Dr. El-Alfy has extensive experience in the design and operation of both open pit and underground mining operations including holding the position of General Manager, Mining and Concentrating at the Carol Lake operation of the Iron Ore Company of Canada, in Labrador city, from 1990 until 1995, and Chief Mining Engineer with Giant Yellowknife Mines Limited in both Yellowknife and Timmins from 1984 until 1990.

Dr. El-Alfy is a member of the Canadian Institute of Mining, Metallurgy and Petroleum, the Institute of Materials, Minerals and Mining, London, United Kingdom and the American Institute of Mining, Metallurgy and Petroleum Engineers and was ex chairman of the Association of Professional Engineers of Newfoundland.

Mr. Jonathan George, President of Creston, stated, "Creston is delighted to have been able to retain Dr. El-Alfy as Chief Operating Officer. The experience of Dr. El-Alfy, his skills in bringing properties from the exploration to the development and mining stage, and his extensive contacts in the mining community will be invaluable as Creston moves forward with the fast track development of the El Creston Molybdenum Deposit in Sonora, Mexico."

The Company has, subject to regulatory approval, granted to an officer 100,000 options exercisable at a price of $0.48 per share for a period of five years.

About Creston Moly Corp.

Creston Moly Corp. is a Canadian mineral exploration company focused on the development of the El Creston Molybdenum deposit located 135 kilometres north-east of Hermosillo, Sonora State, Mexico, near the village of Opodepe. The Creston Molybdenum Project contains the following mineral resources at a 0.035% Mo Cut-off grade:

Mo lbs Cu lbs
------ ------
Category Tonnes Mo% Cu% millions millions
--------- ---------- ----- ----- -------- --------

Indicated 92,873,000 0.083 0.060 169.9 122.8
Inferred 84,221,000 0.076 0.050 141.1 92.8

1. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimates of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.

2. The quantity and grade of reported inferred resources in this estimation are conceptual in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.

3. The mineral resources referred to herein have been estimated in an NI 43-101 technical report (the "P & E Report") prepared for the Company in January 2008 by independent qualified persons Eugene Puritch, P. Eng. and Dr. Wayne Ewert, P. Geo. of P & E Mining Consultants Inc. The P & E Report is available at

Luca Riccio, Ph.D, P. Geo., a Qualified Person as defined by National Instrument 43-101, is responsible for the technical information contained in this News Release.

On behalf of the Board

Jonathan W. George, President

Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government, and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues, and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance, or achievements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

Contact Information

  • Creston Moly Corp.
    Mr. Jonathan George
    (604) 694-0005
    (604) 684-9365 (FAX)