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

Crew Gold Corporation

June 01, 2006 08:30 ET

Crew Gold Corporation: Notification of Trade

LONDON, UNITED KINGDOM--(CCNMatthews - June 1, 2006) - Crew Gold Corporation ("Crew" or the "Company") (TSX:CRU)(OSE:CRU)(FWB:KNC)(OTCBB:CRUGF):

On May 31, 2006, Jan A Vestrum, President and Chief Executive Officer of Crew undertook the following transactions:

i. Mr Vestrum bought 777,778 shares in Crew at NOK 10.77 by way of the fulfilment of a previously announced forward contract, sold 777,778 shares in Crew at NOK 13.40 and bought 778,778 shares in Crew at 13.59 by way of a new forward contract with maturity August 29, 2006.

ii. Mr Vestrum bought 14 convertible bonds of NOK 500,000 each (representing a total of 636,364 shares) at a price of 118.87 by way of the fulfilment of a previously announced forward contract, sold these bonds at a price of 118.87and bought 14 convertible bonds of NOK 500,000 each, at a price og 120.60 by way of a new forward contract with maturity August 29, 2006.

Mr Vestrum's total exposure is 11,599,042 Crew shares, including common shares, convertible bonds, forward contracts and options.
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.

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