CRS:CC - Crestview Exploration Announces Priority Drill Targets at the Rock Creek and Divide Gold Projects in Elko County Nevada

(TheNewswire)

Calgary, Canada – TheNewswire- May 2, 2023 – Crestview Exploration Inc.( CSE:CRS ) , ( Frankfurt:CE7 )(“Crestview” or “the Company”) is pleased to announce that ithas identified high-priority drill targets at the Rock Creek andDivide gold-silver projects in the Tuscarora Mountains of Elko County,Nevada for the upcoming summer-fall drilling season. These highpriority targets include 12 proposed drill holes at Rock Creek (P1through P12) for an approximate total footage between13,000’-16,500’, and 3 proposed drill holes at Divide (PD1 throughPD3) for an approximate total of 3,500’-4,500’. Please refer toTable 1 for the proposed drill hole locations, depths, and approximateorientation.

Table 1 – Proposed Drill Hole Locations

Drill hole locations were chosen from a target-richenvironment utilizing a number of geological indicators captured todate, especially mapped structural and alteration data andHSAMT interpreted sections.

Please refer to Figure 1 for the approximate locationsof drill targets and the corresponding surface geology, and Figures 2to 5 for interpreted HSAMT sections with proposed drill holes.

The drill targets were chosen to accomplish severalobjectives, including:

• Testing areas of anomalous and economic gold and silvergrades in surface sampling and historic drill results;

• Crossing mapped structures and structuralintersections, and determining the potential of the interpreted nestedcaldera;

• Determining the potential for disseminatedmineralization in the Paleozoic sequence at depth, and

• Sampling geophysical anomalies generated by the 2022HSAMT survey.

Based on surface alteration and sampling, shallowresistance highs (shown in red) may represent silica - sulfidemineralization. The deep low resistance zones (in green/blue) mayindicate carbonate dissolution associated with sediment hosteddisseminated gold mineralization.

Figure 1 – Proposed Drill Targets at Rock Creek andDivide

Figure 2 – Rock Creek Line 1

Figure 3 – Rock Creek Line 2

Click Image To View Full Size

Figure 4 – Rock Creek Line 3

Figure 5 – Rock Creek Line 4

Crestview aims to begin testing these high-prioritytargets in the 2023 field season with an approximate 10,000’ mixedRC-Core drill program.

Crestview’s VP Exploration, Justin Lowe, commented,“We have identified strong targets where we see a lot of potentialwhich we are very excited to drill. The program will make considerableprogress in our evaluation at Divide with the 3 proposed holes. The 12targets at Rock Creek cover areas of high potential across the entirelength of the property. The program is designed to simultaneously testareas with extensive surface indicators, HSAMT-generated anomalies,and the potential of the underlying metasedimentary sequence to hostdisseminated mineralization. With the considerable land expansion atDivide and the acquisition of Falcon in 2022, Crestview is in a greatposition to make and pursue a discovery at our Tuscarora Complex [RockCreek, Falcon, Divide].”

On the back of this extensive data integration and workup, the Company has put out tenders to various recognized drillingcontractors for a drill program to commence near the end of the summer2023. We anticipate confirmation of engagement and drilling scheduleover the coming month.

This News Release was prepared by J.A. Lowe, M.Sc.Geology, and has been approved by Alan Morris, M.Sc., CPG#10550.

Alan J. Morris is a Qualified Person as defined by NI43-101 and has reviewed the scientific and technical disclosureincluded in this news release.

On Behalf of the Board of Directors,

“Chris Wensley”

Chris Wensley, CEO

About Crestview ExplorationInc:

Crestview Exploration is anexperienced exploration company focused on the exploration anddevelopment of its portfolioof gold and silver properties located in the geopolitically stable,prolific mining districts of Nevada.

The Rock Creek gold project isCrestview's flagship asset, with 74 unpatented lode mining claimswholly owned and controlled by CRS. The Rock Creek property wasacquired in 2017, and the company went public in 2019. Emboldened bythe results coming out of Rock Creek, Crestview strategically expandedon the land position with the acquisition of the nearby Divide Mineprospect in April 2020, and the acquisition of the Falcon silver-goldprospect in September 2022. Between the three properties, alltargeting similar mineralization and likely the same hydrothermalsystem, Crestview now holds 260 total claims in close proximity of oneanother. These three gold prospects, along with the nearby Castileprospect, are situated in a region with proven "world class"gold deposits (including Midas, Jerritt Canyon, Betze-Post, Meikle,and Gold Quarry), where the potential of finding large, high-gradegold-silver deposits is favorable.

The Cimarron project is located inthe San Antonio Mountains of Nye County, Nevada, and is comprised of31 unpatented lode mining claims, including control of 6 historicallyproducing claims associated with the historic San Antonio mine. Theproperty is located in the prolific Walker-Lane trend, approximately44 kms south of the "world class" Round Mountain deposit.

For further information pleasecontact:

Chris Wensley, Chief Executive Officer

Tel: 1-778-887-3900

Email : Chris@crestviewexploration.com

Forward-Looking Information

This news release includes certaininformation that may be deemed “forward-looking information” underapplicable securities laws. All statements in this release, other thanstatements of historical facts, that address acquisition of theProperty and future work thereon, mineral resource and reservepotential, exploration activities and events or developments that theCompany expects is forward-looking information. Although the Companybelieves the expectations expressed in such statements are based onreasonable assumptions, such statements are not guarantees of futureperformance and actual results or developments may differ materiallyfrom those in the statements. There are certain factors that couldcause actual results to differ materially from those in theforward-looking information. These include the results of theCompany’s due diligence investigations, market prices, explorationsuccesses, continued availability of capital financing, and generaleconomic, market or business conditions, and those additionallydescribed in the Company’s filings with the Canadian securitiesauthorities.

Investors are cautioned that anysuch statements are not guarantees of future performance and actualresults or developments may differ materially from those projected inthe forward-looking information. For more information on the Company,investors are encouraged to review the Company’s public filings atwww.sedar.com. The Company disclaims any intention or obligation toupdate or revise any forward- looking information, whether as a resultof new information, future events or otherwise, other than as requiredby law .

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITSREGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FORTHE ADEQUACY OR ACCURACY OF THIS RELEASE

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