Crew Gold Corporation

Crew Gold Corporation

November 10, 2010 08:28 ET

Crew to Vigorously Defend PMC Claim

LONDON, UNITED KINGDOM--(Marketwire - Nov. 10, 2010) - Crew Gold Corporation ("Crew", the "Company") (TSX:CRU)(OSLO:CRU) today announces that Piscedda Mining Corporation ("PMC") has served Crew with a statement of claim in the Yukon Territory, Canada, alleging damages for $127 million relating to Crew's assumption of the mining operations from PMC at its Guinean subsidiary, Societe Miniere de Dinguiraye, in 2008. Crew believes the claim is frivolous, vexatious and entirely without merit and will defend it vigorously.

William LeClair, President and Chief Executive Officer

Safe Harbour Statement

Certain statements contained herein 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 the timing of the common share consolidation.

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. Although Crew has attempted to identify important factors that could cause actual events or results to differ from those described in forward-looking statements contained herein, there can be no assurance that the forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The material factors and assumptions used to develop forward-looking statements which may be incorrect, include, but are not limited to, current estimates of the timing to effect the trading of post-consolidation shares and exchange for post-consolidation share certificates.

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.

Contact Information