HIGHLIGHTS FOR THE QUARTER ENDED 30 JUNE 2010
? Successful completion of third gold processing campaign through Ore Processing Agreement (OPA) with gold major Barrick netted 23,274 ounces of gold and 8,828 ounces of silver.
? Total gold production (attributable to Barrick under the OPA) from the three campaigns to date of 73,474 ounces. Crescent is on track to achieve forecast ore sales of >100,000 ounces pa equivalent in the maiden year of production.
? A$15 million loan facility secured for the staged payment and accelerated development of the recently purchased Laverton Extended Joint Venture tenements (1.1 million gold ounces) in WA, and to fund development and working capital requirements.
? Significant high-grade gold intersections recorded in recent Reverse Circulation (RC) drilling at Craiggiemore and West Laverton projects near Laverton.
? Existing Ore Purchase Agreement (?OPA?) with gold major Barrick extended by a further two years, providing greater production certainty going forward.
? Exploration acreage in Laverton doubled and gold inventory expanded to over 2.1 million ounces of Measured, Indicated and Inferred Resources.
? New Chairman further strengthens Crescent Board: Geoff Stanley, Director of Crescent since 2006, appointed Non-Executive Chairman of the Company effective 27 July 2010.
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Questions can be directed to:
Roland Hill or Renee Brickner
Managing Director Geologist, Corporate Communications N.A.
Or Vancouver, BC
Jo-Ann Wellstead Ph: +1-604-802-6806
Perth, Australia rbrickner@crescentgold.com
Ph: +61 8 6380 7100
Info@crescentgold.com
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