Crown Point Ventures Ltd.

Crown Point Ventures Ltd.

April 27, 2012 07:00 ET

Crown Point Acquires 50% Interest and Operatorship in the Laguna de Piedra Exploration Concession in the Province of Rio Negro, Argentina

CALGARY, ALBERTA--(Marketwire - April 27, 2012) - Crown Point Ventures Ltd. ("Crown Point" or the "Company") (TSX VENTURE:CWV) is pleased to announce that it has acquired an additional 50% interest in the Laguna de Piedra Exploration Concession in the Neuquén Basin portion of the Province of Rio Negro, Argentina. This interest was acquired through the exercise of rights of first refusal, the cost of this acquisition was $500,000 USD and Crown Point now has a 100% operated interest in the concession.

The Laguna de Piedra concession is a 252,047 acre exploration concession in the Neuquén Basin and is covered with a recently shot 250 Km 3-D seismic program with identified drillable features. The addition of this recent acquisition adds 126,023 acres of net land to Crown Point bringing the total land holdings to 693,845 net acres (pro forma closing the acquisition of Antrim Argentina S.A.).

Crown Point anticipates that it will file its second quarter financial statements on SEDAR on Monday April 30, 2012.

About Crown Point

Crown Point Ventures Ltd. is an international oil and gas exploration and development company headquartered in Calgary Canada, incorporated in Canada, trading on the TSX Venture Exchange and operating in South America. Crown Point's exploration and development activities are focused in the Golfo San Jorge and Neuquén basins in Argentina. Crown Point has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a basis for future growth.


Certain information regarding Crown Point set forth in this document, including our total land holdings pro forma the proposed acquisition of Antrim Argentina S.A., may constitute forward-looking statements under applicable securities laws. The forward-looking information is based on certain key expectations and assumptions made by Crown Point, including our assumption that all of the conditions precedent to closing such acquisition will be satisfied and that the acquisition will ultimately close. Although Crown Point believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Crown Point can give no assurances that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. There are risks inherent in the nature of the proposed acquisition, including failure to obtain the required shareholder, court, regulatory and other third party approvals. There are no assurances the acquisition will be completed. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Readers are cautioned that the foregoing list of factors is not exhaustive.

Crown Point's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur. Additional information on these and other factors that could affect Crown Point's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website ( or Crown Point's website ( The forward-looking statements contained in this document are made as at the date of this news release and Crown Point does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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