Creston Moly Corp.
TSX VENTURE : CMS

Creston Moly Corp.

June 12, 2008 14:40 ET

Creston Moly Corp.: Infill Drill Program Completed at El Creston Deposit, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2008) - Creston Moly Corp. ("Creston" or the "Company") (TSX VENTURE:CMS) is pleased to announce it has completed an infill drill program on the Main Zone of its El Creston Molybdenum deposit, Sonora, Mexico.

The program consisted of 52 diamond drill holes totalling 15,646 metres, and was designed to upgrade inferred resources to the indicated category. The infill drill program originally contemplated a 40 hole program, but was augmented to investigate previously unidentified mineralized areas, especially along the northern and eastern sectors of the deposit.

Work by previous operators outlined an indicated resource of 92,873,000 tonnes grading 0.083% Mo containing 169.9 millions lbs. of molybdenum and an inferred resource of 84,221,000 tonnes grading 0.076% Mo containing 141.1 million lbs. of molybdenum (P&E Mining Consultants Inc., January 2008).

A new resource calculation will be undertaken by Mine Development Associates (MDA) of Reno, Nevada and it is expected to be completed by September 2008.

Drilling, utilizing one diamond drill rig, has now commenced on the Red Hill Zone located approximately 300 metres southwest of the Main Zone. The Red Hill Zone has been interpreted as a possible faulted extension of the Main Zone, and will be tested initially by 10 widely spaced diamond drill holes to an average depth of 200 metres.

The drill program at El Creston is being supervised by Fabrizio Colombo, PhD, P. Geo.

At the newly discovered Alejandra Zone, situated two kilometres northeast of the Main Zone, a program of detailed mapping and sampling is underway in preparation for future drill testing. Numerous molybdenum bearing outcrops have been discovered on the northeast flank of the Alejandra Zone.

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 El Creston Molybdenum Project contains the following mineral resources at a 0.035% Mo Cut-off grade:



Category Tonnes Mo% Cu% Mo lbs millions Cu lbs 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 www.sedar.com.


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

CRESTON MOLY CORP.

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)
    Website: www.crestonmoly.com