Crew Gold Corporation

Crew Gold Corporation

June 28, 2005 08:35 ET

Crew Receives Indication of Interest on Mindoro

LONDON, UNITED KINGDOM--(CCNMatthews - June 28, 2005) - Crew Gold Corporation (TSX:CRU) (OSE:CRU) (FWB:KNC) (OTCBB:CRUGF) ("Crew"): As a result of several months' discussions, Crew is pleased to announce that a written Indication of Interest (IoI) has been received from a Chinese/Canadian consortium to negotiate a Binding Contractual Agreement (BCA) at the earliest possible date regarding the development of the Mindoro Nickel Project.

A dialogue has been established with the individual participants of the consortium with the goal of establishing in the immediate near term a framework for the negotiations for a Definitive Agreement (DA) via a Memorandum of Understanding (MOU).

Crew is also pleased to announce that based on discussions between the parties, selected test work will commence immediately.

Jan A. Vestrum
President & CEO

This news release contains certain "Forward-Looking Statements". All statements, other than statements of historical fact, included in this release, and/or statements made by company officers or directors at any given time, as well as Crew's future plans are such forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and Crew does not undertake any obligation to update forward-looking statements should conditions or management's estimates or opinions change.

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