Crescent Gold Limited
TSX : CRA
ASX : CRE
BERLIN : CZ8

Crescent Gold Limited

September 28, 2011 11:21 ET

Focus Extends Crescent Offer to 5 October 2011

PERTH, WESTERN AUSTRALIA--(Marketwire - Sept. 28, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Focus Minerals Limited (ASX:FML)(FRANKFURT:FZA) has extended its takeover Offer for Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CZ8) by one week, to end at 7.00pm (Sydney time) on Wednesday, 5 October 2011.

The Offer period will not be extended any further and it will end on Wednesday, 5 October 2011.

Further to previous announcements, Focus now holds a relevant interest in 79.89% of all Crescent shares. This may increase to 85.22%1 through conversion of loans owed by Crescent to Focus.

Yours faithfully,

Crescent Gold Limited

Mark Tory, Managing Director

Additional information related to the Company is available for review at sedar.com or on the Company's website at www.crescentgold.com.

Level 2, 40-48 Subiaco Square
Subiaco WA 6008
Phone: +61 8 6380 7100
Fax: +61 8 6380 7199
info@crescentgold.com
www.crescentgold.com
ABN 49 087 360 996

FINAL EXTENSION OF FOCUS' OFFER FOR CRESCENT

The Offer will close at 7:00pm (Sydney time) on 5 October 2011 and will not be extended any further
Focus' current relevant interest of 79.89% would increase to 85.22% if loans and options are fully converted(1)
Focus intends to seek the change of the Crescent Board
It is intended to seek the de-listing of Crescent from the ASX and TSX
Remaining Crescent shareholders urged to ACCEPT IMMEDIATELY

Last Chance to Accept Focus' Offer

Focus Minerals Limited (ASX:FML)(FRANKFURT:FZA) has extended its takeover Offer for Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CZ8) by one week, to end at 7.00pm (Sydney time) on Wednesday, 5 October 2011.

The Offer period will not be extended any further and it will end on Wednesday, 5 October 2011.

Further to previous announcements, Focus now holds a relevant interest in 79.89% of all Crescent shares. This may increase to 85.22%1 through conversion of loans owed by Crescent to Focus.

What You Need to Know:

  • Focus may elect to increase its existing 79.89% interest in Crescent by the conversion of debt owed by Crescent to Focus. Assuming full draw down of these loans, a 5 cents per share conversion price and full exercise of all associated options, Focus would increase its interest in Crescent to 85.22%.
  • As Focus has the majority holding in Crescent, it intends to seek to change the Crescent Board in the near future.
  • Focus intends to seek to de-list Crescent from the Australian Securities Exchange (ASX) and the Toronto Stock Exchange (TSX). If Crescent is delisted, you will not be able to sell your shares on ASX or TSX (which will, for all practical purposes, prevent trade on the Frankfurt Stock Exchange (FFT)).
  • Focus will not increase the Offer price (one Focus share for every 1.18 Crescent shares). There is no Court process available to the remaining shareholders at the end of an Australian company takeover to seek a premium to the takeover price for their shares.
  • Now that Focus has reached 79.89% ownership in Crescent, Focus considers it extremely unlikely that any other offer will eventuate.
  • The Offer period has been extended for the last time and it will end at 7:00pm (Sydney time) on Wednesday, 5 October 2011 (the formal notice of this extension is enclosed).

1 Assuming full drawdown of relevant loans, conversion price of $0.05 and exercise of all associated options

What You Need to Do:

The Crescent Board has unanimously recommended that you accept the Offer.

To accept the Offer, you will need to complete your Acceptance Form, and send it to the address shown on the Acceptance Form. If you require a replacement Acceptance Form, send an email to info@focusminerals.com with your request, in order to arrange for one to be mailed to you free of charge. If you hold your Crescent Shares through CHESS, you can instruct your Controlling Participant (usually your broker) to accept the Offer on your behalf.

Your acceptance must be received by 7.00pm (Sydney time) on Wednesday, 5 October 2011.

If you need to speak to your broker or other adviser, please do so now before it becomes too late. If you have any queries in relation to the Offer, you may call the Focus Offer information line on 1800 648 622 (toll-free within Australia) or +61 2 8256 3377 (international) between 9.00am and 5.00pm (AEST), Monday to Friday.

ACN: 005 470 799
ABN: 56 005 470 799

Contact Information