Creston Moly Corp.

Creston Moly Corp.

March 18, 2008 09:01 ET

Creston Moly Corp.: M3 Engineering & Technology Corporation Engaged for El Creston Molybdenum Deposit, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2008) - Creston Moly Corp. ("Creston" or the "Company") (TSX VENTURE:CMS) is pleased to announce that it has entered into a contract with M3 Engineering & Technology Corporation ("M3") for the provision of a bankable feasibility study on its El Creston Molybdenum Deposit in Sonora, Mexico.

The study will be conducted in three phases consisting of scoping, pre-feasibility engineering and feasibility engineering.

M3 has offices in Tucson Arizona, Chandler Arizona and most importantly for Creston, in Hermosillo, Mexico, where their associates have an intimate knowledge of all aspects of the Mexican Mine permitting process.

M3 is a full-service international engineering firm providing engineering, procurement and construction management services to the minerals industry.

Founded in 1986 and with a current staff of over 400 employees, M3 has engineered and managed over $2.0 billion in mining projects, and notably, has won numerous recognitions including the prestigious 2005 AISC Engineering Award for Excellence and the American Mining Hall of Fame's 2007 Mining Foundation of the Southwest Industry Partnership Award.

Jonathan George, President of Creston, states that, "we are very fortunate to have secured this contract with such an outstanding firm as M3. Their extensive knowledge of the requirements necessary for putting projects into production in Mexico will greatly help to accelerate the development of the Creston deposit."

Creston is presently conducting an in-fill diamond drill program, consisting of approximately 50 holes, in order to upgrade inferred resources to the indicated category. This program should be completed by May 2008. Mine Development Associates (MDA) of Reno, Nevada has been engaged to undertake a new resource estimate, which is projected to be available in August 2008.

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, PhD, 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)