Crown Point Ventures Ltd.
TSX VENTURE : CWV

Crown Point Ventures Ltd.

May 23, 2012 06:00 ET

Crown Point Ventures Ltd. Announces That it has Received the Cerro de Los Leones Environmental Permit From the Province of Mendoza

CALGARY, ALBERTA--(Marketwire - May 23, 2012) - (TSX VENTURE:CWV) Crown Point Ventures Ltd. ("Crown Point") is pleased to announce that it has received the main Environmental Permit required to commence operational activities on the lands covered by the Cerro de los Leones Exploration Permit. The planned 3-D and 2-D seismic programs are expected to commence in July of 2012. Cerro de los Leones currently is jointly held by Crown Point and Antrim Energy Inc. Crown Point's ownership of the Cerro de los Leones Exploration Permit will be 100% assuming the successful closing of the proposed Plan of Arrangement under which Crown Point is acquiring 100% of Antrim Argentina S.A.

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.

Advisory

Certain information regarding Crown Point set forth in this document may constitute forward-looking statements under applicable securities laws, including statements regarding the proposal to begin seismic programs on our Cerro de los Leones property in July 2012 and our proposed acquisition of Antrim Argentina S.A. 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 the acquisition of Antrim Argentina S.A. 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 (www.sedar.com) or Crown Point's website (www.crownpointventures.ca). 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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