NEWS RELEASE

INFILL DRILLING CONTINUES TO ENCOUNTER SIGNIFICANT MOLYBDENUM MINERALIZATION AT

 EL CRESTON DEPOSIT, MEXICO

April 4, 2008                                                                                                  News Release # 8-08

Creston Moly Corp. ("Creston" or the "Company") (TSX-V: CMS) is pleased to announce that 33 holes totalling 10,500 metres have been completed at the El Creston Molybdenum Project, Sonora, Mexico. Analytical results for holes EC07-008 to EC08-023 have been received from ALS-Chemex's North Vancouver Lab. All drilling is taking place within and peripheral to the Main Molybdenum Zone of the El Creston Deposit.

The objective of the ongoing infill drill program is to upgrade the existing inferred resources to the indicated category and to delineate the boundaries of the Main Molybdenum Zone deposit.

The locations of the 33 holes drilled to date are shown in the accompanying location map, along with those of the historical holes. The map is also available at http://www.crestonmoly.com/i/misc/CrestonMapApril3-08.jpg  Molybdenum and copper assays for vertical holes EC07-008 to EC08-023 are tabulated below:

Most of the holes drilled in late 2007 and early 2008  (holes 009,010,011,012,013,015,016,018,019) were collared peripheral to the core of the Main Zone deposit. Drill results from these holes show intercepts grading 0.05% to 0.08% Mo over intervals ranging from 25.25 metres grading 0.08% Mo in hole EC07-012 to 224 metres grading 0.06% Mo in hole EC08-018 and 143.3 metres grading 0.08% Mo in hole 019. The results from the two southernmost holes (015 and 019) are particularly encouraging since they point to a widening of the Main Zone mineralization in that sector of the deposit.

Hole EC07-008, collared at the eastern end of the deposit, intersected 172.95 metres grading 0.15% Mo starting from surface. This high-grade intercept occurs within a hydrothermal breccia zone similar to that intersected in previously reported holes EC07-003 (164.3 metres grading 0.12% Mo) and EC07-007 (245.29 metres grading 0.14% Mo).  These three holes have outlined a coherent zone of high-grade mineralization that is still open in all directions. It is noteworthy to point out that this high-grade zone not only starts at surface, but also occurs within an area characterized by a thin oxide cap. Hence any future development at El Creston will have access to high-grade mineralization requiring minor stripping. 

Holes EC07-017 and EC08-020, 021, 023 were drilled within the core of the Main Zone deposit. All four holes encountered widespread mineralization grading 0.07% to 0.10% Mo over intervals exceeding 200 metres in length.

Copper values associated with the molybdenum mineralization generally average less than 0.1% Cu.  However, a chalcocite-enriched zone occurs below the oxidation zone on the south side of the Creston Main Zone. Best copper intercepts associated to this style of mineralization include 20.8 metres grading 0.33% Cu in hole EC07-016, 51.85 metres grading 0.24% Cu in hole EC08-019 and 40.1 metres grading 0.35% Cu in hole EC07-013.

Sampling and QA/QC

Drilling at El Creston is carried out by Layne Drilling employing two wireline rigs that recover HQ core. Where necessary the core is reduced to NQ size. The core is transported to a secure facility at the nearby Opodepe camp where it undergoes geotechnical and geological logging. Prior to delivering the core to ALS Chemex preparation lab in Hermosillo, the core is photographed and all mineralized zones are photographed in detail. Blanks, standards, field and coarse reject duplicates, and pulp duplicates are inserted in the stream of samples prior to delivery to the preparation lab.

Based on recommendations by Mine Development Associates ("MDA") of Reno Nevada, the entire core is sent to the preparation lab in Hermosillo. MDA is the independent consulting firm that has been retained to oversee QA/QC procedures and to carry out the updated resource estimate of the El Creston Main Zone following the completion of the ongoing drill program.

The rationale for not sawing the core and retaining half of the sample is based on two considerations: 1) portions of the molybdenite mineralization at El Creston occur as loosely bound coarse flakes and clusters and 2) there is evidence of a nugget effect in parts of the deposit. Thus, the sampling of the entire core prevents or minimizes the loss of molybdenite due to core handling, sawing, and washing. In addition, keeping the entire core maximizes the sample volume, which should minimize any nugget effect and more accurately represent the mean grade of the deposit.

Sample preparation in Hermosillo consists of crushing the whole interval to minimum of > 70% of the crushed sample passing a 2 mm screen and then splitting the -2mm crushed sample to produce a representative split of 1,000 grams. Each 1,000 gram sample is then pulverized to at least 85% passing -75 microns.

The pulps are then shipped to ALS-Chemex in North Vancouver to be analyzed for total Mo% and Cu% using a four acid digestion and ICP-AES (Atomic Emission Spectroscopy) finish. Samples from the oxide zone will be sent to Skyline Labs in Tucson to be analyzed for MO₃.

The drill program at El Creston is being supervised by Fabrizio Colombo, PhD, P. Geo.

About Creston Moly Corp.

Creston Moly Corp. is a Canadian mineral exploration company focused on the development of the El Creston Molybdenum deposit located 135 kilometres north-east of Hermosillo, Sonora State, Mexico, near the village of Opodepe. The Creston Molybdenum Project contains the following mineral resources at a 0.035% Mo Cut-off grade:

1.       Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimates of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.

2.       The quantity and grade of reported inferred resources in this estimation are conceptual in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.

3.       The mineral resources referred to herein have been estimated in an NI 43-101 technical report (the ?P & E Report?) prepared for the Company in January 2008 by independent qualified persons Eugene Puritch, P. Eng. and Dr. Wayne Ewert, P. Geo. of P&E Mining Consultants Inc. The P & E Report is available at www.sedar.com.

Luca Riccio, PhD, P. Geo, a Qualified Person as defined by National Instrument 43-101, is responsible for the technical information contained in this News Release. 

On behalf of the Board

(Signed) "Jonathan W. George"
President

For further information please contact
Mr. Jonathan George
604-694-0005
604-684-9365 (FAX)
Website: www.crestonmoly.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government, and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues, and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance, or achievements.