(TheNewswire)
Vancouver – TheNewswire- December 10 th , 2020 –Crest Resources Inc., (“Crest” or the “Company”) (CSE:CRES) (CNSX:CRES.CN) (OTC:CRSTF) congratulates ExploitsDiscovery Corp (“Exploits”) (CSE: NFLD). on the acquisition andconsolidation of ground surrounding its’ wholly owned Jonathan’sPond (JP) Gold Project, located in the Exploits Subzone Gold Belt,Newfoundland and Labrador.
Exploits has entered into an agreement with New FoundGold Corp. (TSXV: NFG) to acquire 11.25 km² of mineral claims for6,562,799 shares of Exploits (9.9% of the company), and a 2% netsmelter royalty. The shares are subject to a 12 month holdperiod.
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- The new ground builds on and extends ExploitsJonathan’s Pond exploration program
- Exploits management is demonstrating the ability todevelop value both through exploration as well as corporatetransactions.
- Exploits has been a strong performer for Crest as aninvestment.
- Exploits is just one of Crests exploration anddevelopment investments in gold, copper, Vanadium, Magnesium andrelated mining technology.
Michael Collins, CEO and President of Crest ResourcesInc. comments, “Exploits is well positioned for discovery inNewfoundland. Our investment in Exploits Discovery Corp. continues todrive value for Crest shareholders. Exploits is a great example of ourcore philosophy for investing and building exploration and relatedmining technology companies. Crest continues to working to build, andvalue similar projects, investments and technologies.”
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.
ON BEHALF OF THEBOARD
/s/"Michael Collins "
President and CEO
FOR FURTHER INFORMATION CONTACT:
Christopher Huggins
Vice President, Capital Markets
Crest Resources Inc.
Telephone: 604-968-4844
Michael Collins
President and CEO
Crest Resources Inc.
Telephone: 604-681-3170
We Seek Safe Harbour.
Neither the CanadianSecurities Exchange nor its Regulation Service Provider (as the termis defined in the policies of the Canadian Securities Exchange)accepts responsibility for the adequacy of accuracy of this newsrelease.
Forward-LookingStatements
This news release contains certainforward-looking statements, which relate to future events or futureperformance and reflect management's current expectations andassumptions. Such forward-looking statementsreflect management's current beliefs and are based on assumptionsmade by and information currently available to the Company. Readersare cautioned that these forward-looking statements are neitherpromises nor guarantees, and are subject to risks and uncertaintiesthat may cause future results to differ materially from those expectedincluding, but not limited to, market conditions, availability offinancing, actual results of the Company's exploration and otheractivities, environmental risks, future metal prices, operating risks,accidents, labor issues, delays in obtaining governmental approvalsand permits, and other risks in the mining industry. All theforward-looking statements made in this news release are qualified bythese cautionary statements and those in our continuous disclosurefilings available on SEDAR at www.sedar.com . These forward-looking statements are made as of the datehereof and the Company does not assume any obligation to update orrevise them to reflect new events or circumstances save as required byapplicable law.
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