(TheNewswire)
Vancouver, B.C. - TheNewswire - October 5, 2020 -Crest Resources Inc. ("Crest" or the "Company")(CSE:CRES) (CNSX:CRES.CN)(OTC:CRSTF) is pleased to announce that it hasappointed Mr. Christopher Huggins as Vice President, Capital Markets. At the Company's Annual General and Special Meeting held November 25,2019, the Company's shareholders approved a resolution authorizing theCompany to expand its corporate objectives including to become aninvestment issuer. In furtherance of this goal, Mr. Huggins'experience with grassroots exploration geology, mining, construction,and technology industries provides a broad range of insights to theCompany.
Mr. Huggins holds a B.Sc., Honours Geology from theUniversity of British Columbia (1997) and worked as a geologist for 5years across Northwestern British Columbia in regional goldexploration for Homestake Mining (Barrick). Following 10 years insales leadership with e-learning technology, internet and advertisingfirms, Mr. Huggins returned to the mining industry and for the past 10years has been a Corporate Accounts Manager, Sales Manager, andBusiness Development Manager with Atlas Copco Mining and RockExcavation Technique (Epiroc), Hexagon Mining, and FinningCanada.
Stock Options
The Company has granted 875,000 incentive stock optionsexercisable at $0.12 per share until October 5, 2025 to officers andconsultants of the Company. The stock options are subject to theacceptance of the Canadian Securities Exchange.
Sale of Dog Bay Interest
The Company further announces that it has entered intoagreements to sell 40.323% interest in the Dog Bay gold property (the"Property") to four arm's length parties for gross proceedsof $112,000. The Property is located in the Exploits Subzone inCentral Newfoundland and Labrador and was acquired by the Company byway of staking syndicate in June 2020. Subsequent to the transaction,the Company will hold 29.677% interest in the Property.
About Crest Resources Inc.
Crest Resources Inc. is a British Columbia companylisted on the Canadian Securities Exchange under the symbol"CRES". The Company's principal business activity is theacquisition, exploration and evaluation of mineral property assets inCanada, Australia and Peru and the investment in mineral explorationcompanies and related mining technologies of merit. Crest is committedto creating significant shareholder value through advancing ahigh-quality blended portfolio of resource development and discretetechnology plays that build on corporate knowledge and relationshipsand drive value outside of the mining cycle, as well as directinvestment in undervalued exploration plays at an early stage.
FOR FURTHER INFORMATIONCONTACT:
Michael Collins
President and CEO
Crest Resources Inc.
Telephone: 604-681-3170
Neither the Canadian SecuritiesExchange nor its Regulation Service Provider (as the term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy of accuracy of this newsrelease.
Forward-Looking Statements
This news release contains certain forward-lookingstatements, which relate to future events or future performance andreflect management's current expectations and assumptions. Suchforward-looking statements reflect management'scurrent beliefs and are based on assumptions made by and informationcurrently available to the Company. Readers are cautioned that theseforward-looking statements are neither promises nor guarantees, andare subject to risks and uncertainties that may cause future resultsto differ materially from those expected including, but not limitedto, market conditions, availability of financing, actual results ofthe Company's exploration and other activities, environmental risks,future metal prices, operating risks, accidents, labor issues, delaysin obtaining governmental approvals and permits, and other risks inthe mining industry. All the forward-looking statements made in thisnews release are qualified by these cautionary statements and those inour continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof andthe Company does not assume any obligation to update or revise them toreflect new events or circumstances save as required by applicablelaw.
Copyright (c) 2020 TheNewswire - All rights reserved.