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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 13, 2011) - Crescent Resources Corp. (TSX VENTURE:CRC) is pleased to announce that Don Halliday the Company's Executive Vice President has been appointed as the Company's full-time President and Chief Executive Officer and Michael Hopley has been appointed Chairman of the Board of Directors.
Don stated, "I believe that Crescent's newly acquired Uncle Sam gold project in Alaska has great potential for the discovery of a significant new gold deposit. Past exploration and drilling has shown that the project is a large, mostly untested gold system located in a world class gold belt with three multi-million ounce gold projects, Pogo, Fort Knox and Livengood, located nearby. Alaska is a low risk, pro-development area that will receive a lot of attention this spring and summer with several large exploration programs being conducted by other mineral exploration companies in addition to a planned program for Crescent's Uncle Sam project."
The Company thanks Michael Hopley for his commitment to Crescent. As Chairman, he will continue to provide his geological expertise and planning for all exploration programs for Crescent.
The Property
The Uncle Sam Gold Property is located 75 kilometers southeast of the city of Fairbanks and 20 kilometers north of the Richardson Highway. The project is an intrusion related gold target hosted in a similar age of intrusive rocks to those which host the Pogo Gold Mine in east-central Alaska approximately 60 kilometers to the east of Uncle Sam. An extensive exploration data package provided to Millrock indicates that the Uncle Sam project consists of extensive anomalous areas defined by surface gold geochemistry and 18 individual drill intersections of greater than 1.0 g/t gold over drilled widths ranging from 3 to 25 meters including 22.31 meters grading 3.2 g/t gold. As a result of the prior exploration work, numerous drill-ready targets exist on the Uncle Sam claim block.
The technical information in this news release was reviewed by Michael Hopley, Crescent's Chairman, a Qualified Person as defined in NI 43-101.
About Crescent Resources Corp.
Crescent Resources is a resource exploration company focused on the exploration of the Uncle Sam Gold Project in Alaska. Management will also continue to review other opportunities in the resource sector. The Company has 17.6 million shares outstanding thereby providing its shareholders strong leverage to a successful exploration program.
CRESCENT RESOURCES CORP.
Don Halliday
President and Chief Executive Officer
