SOURCE: Crowne Ventures, Inc.

September 12, 2011 09:35 ET

Crowne Ventures, Inc. Announces Extensive Cross-Sampling and Assay Results Exceed Previous Estimates

LAS VEGAS, NV--(Marketwire - Sep 12, 2011) - Crowne Ventures, Inc. (PINKSHEETS: CRWV) is pleased to announce that the previous multi-billion dollar estimates of August 25th have been, as quoted by Crowne Ventures CEO, Dane Peterson, "as now being grossly underestimated," and now show as much as 20 Billion in USD, after results of recent surface work, and cross sampling on the Company's Gallo de Oro and Oro de Rojas Gold Properties in Mexico have yielded results exceeding previous estimates.

Surface grab samples across the entire property have revealed a much larger ore formation than originally anticipated. Crowne Ventures will be producing on the exposed deposits while further testing at depth levels will be initiated. Once all of the deposits are delineated, core samples will be taken to a depth of 250 feet. From current field investigations, the estimated reserve could be as much as 12.7 million tons of recoverable ore and would allow for up to 30 years of production.

Recent surface samples at 4.8 oz/ton were taken at the top and at the bottom of the properties effectively showing that the ore runs down the strike line of the properties. The 10.1 oz/ton results recently announced reflect where excavation into the ore vein was done at the surface level.

"It is my opinion that to estimate 1.5 oz/ton across the increased estimates of 12.7 tons of recoverable ore across the Gallo and its extension, grossly undervalued the USD value at over 20 Billion Dollars. We are taking an aggressive approach to assay testing, excavating access across the concessions for future drill equipment access, and working towards production runs on stockpiled ore through local mills and refineries. In time, we will prove up the true contained values of the Gallo properties, and publish our results," stated CEO Dane Peterson.

The second assay report # 30554-1 shows the cap assay as 8.7 ounces per ton. This cap is similar to a concrete slab across an exposed area of about 1,000 square feet. The cap continues back across the claim towards the lower portion of the claim almost 200 meters or more away. Within this cap is a marbling of vein material showing 10.3 ounces per ton.

Preparations have begun for trucks and tractors to begin mining the Company's Gallo de Oro Property ore body soon and to continue to stockpile ore for shipment for smelting. Samples of the ore are being processed for shipment to cyanide and floatation plants for additional engineering on gold and silver recovery so the Company can determine the best recovery method for producing gold bullion.

Mr. Peterson went on to state, "The Gallo do Oro and Oro de Rohas mineral deposits are located in the State of Nayarit, Mexico, which is considered widely as one of the world's most prolific areas for major deposits of gold, silver, and other minerals. It has been explored and is currently successfully mined by several well-known mining and geological institutions.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to, " "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the Company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the Company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.

Contact Information