Crew Gold Corporation
FRANKFURT : KNC
TSX : CRU
OSLO STOCK EXCHANGE : CRU
OTC Bulletin Board : CRUGF

Crew Gold Corporation

November 29, 2006 13:05 ET

Crew Gold Corporation: Crew Minerals ASA Listing Application Update

LONDON, UNITED KINGDOM--(CCNMatthews - Nov. 29, 2006) - Crew Gold Corporation ("Crew" or the "Company") (TSX:CRU) (OSE:CRU) (FWB:KNC) (OTCBB:CRUGF).

The Board of Crew Gold has submitted a listing application to the Oslo Stock Exchange on behalf of its 100%-owned subsidiary, Crew Minerals ASA. This listing application was originally planned to be evaluated by the Board of the Oslo Stock Exchange November 29th. Due to delays in receiving certain certificates from the authorities in the Philippines, Crew Gold has decided to delay the evaluation of the listing application by the Board of the Oslo Stock Exchange until December 19th, 2006. Crew Gold is of the opinion that these certificates will be received well in advance of the next board meeting at the Oslo Stock Exchange.

Subject to the Oslo Stock Exchange's positive conclusion, Crew Minerals expects the first trading day to be on or about December 21st, 2006. The first trading day was originally planned to be December 19th.

Crew Minerals will publish a prospectus within the next few days in connection with the listing and an Initial Public Offering ("IPO"). The size of the IPO will be up to NOK 50 million.

Jan A Vestrum, President & CEO

Safe Harbour Statement

Certain statements contained herein, as well as oral statements that may be made by the company or by officers, directors or employees of the company acting on the company's behalf, that are not statements of historical fact, may constitute "forward-looking statements" and are made pursuant to applicable and relevant national legislation (including the Safe-Harbour provisions of the United States Private Securities Litigation Reform Act of 1995) in countries where Crew is conducting business and/or investor relations. Forward-looking statements, include, but are not limited to those with respect to Crew Acquisition Corp.'s intention to proceed with the compulsory acquisition. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "does not expect", "is expected", "targets", "budget", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or equivalents or variation, including negative variation, of such words and phrases, or state that certain actions, events or results, "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the price of gold, fluctuations in financial markets, investor interest in the proposed private placement. Although Crew has attempted to identify important factors that could cause actual actions, events or cause actions events or results not to be anticipated, estimated or intended, there can be no assurance that forward looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as may be required by applicable law or stock exchange regulation, the company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. Accordingly, readers should not place undue reliance on forward-looking statements.

Cautionary Note to US Investors - The United States Securities and Exchange Commission permits US mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website (or press release), such as "measured", "indicated", and "inferred" "resources", which the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC. US Investors are urged to consider closely the disclosure from the SEC's website at http://www.sec.gov/edgar.shtml.


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