SOURCE: Crowne Ventures, Inc.

August 29, 2011 16:05 ET

Crowne Ventures, Inc. Sub-Surface Excavation Uncovers Positive Indicators Within 10 Feet

LAS VEGAS, NV--(Marketwire - Aug 29, 2011) - Crowne Ventures, Inc. (PINKSHEETS: CRWV) has begun its first sub-surface excavation under surface rock on their Gallo de Oro property and has discovered gold veins and deposits within 10 feet of the surface which appear to show deeper strike lines, running for an unknown distance. The Company will continue to follow this vein structure in order to delineate its size and width, utilizing an existing excavation path.

Preliminary independent testing reflects 10.7 oz./ton at the extraction point. This compares to successful gold producing mines in the U.S. that are yielding 2-4 oz./ton.

According to Crowne Ventures CEO, Dane Peterson, "Based on lab testing and field reconnaissance, we could possibly see reserves exceeding earlier estimates in the 3 Billion Dollar range based upon the current price of gold on the retail market."

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.

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