Apr. 5, 2011 (Marketwire) --

SUBIACO, WESTERN AUSTRALIA -- (Marketwire) -- 04/05/11 -- Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

The Board of Crescent Gold Limited is pleased to announce that it has made two key executive appointments.

Firstly, effective immediately, Mr Mark Tory has been appointed Managing Director of the Company. Mark has been in the role of interim Managing Director since 8 October 2010. Previously he held the position of Chief Financial Officer and Company Secretary from 19 May 2008. Mark has over 20 years of professional experience in the fields of mining and finance. He has an MBA from the University of Western Australia and a Bachelor of Business from Edith Cowan University. Mark's extensive experience includes roles with Anglo American Exploration (VP of Finance) and Homestake Gold (now Barrick Gold). Mark joined Crescent in May 2008 and was appointed to the Board in October 2010.

Crescent Gold's Chairman, Mr Geoff Stanley, stated: "The Board is delighted that Mark has accepted the role of Managing Director. Since taking on the role on an interim basis Mark has acquitted himself admirably. He was instrumental in completing a recent over-subscribed capital raising and successfully managed the Company through recent flooding that had a significant temporary impact on the operations at Laverton. After an extensive search the Board is confident Mark was the most capable candidate available and we are enthusiastic about the energy, commitment and dedication he brings to the role."

Secondly, the management team is also bolstered by the appointment of Mr Mark Hine to the role of Chief Operating Officer, effective 9 May 2011. Mark is a mining engineer who has more than 30 years operating experience. Most recently, he held positions of CEO Golden West Resources Ltd, Executive General Manager Mining at Macmahon Contractors Pty Ltd and General Manager for Pasminco Ltd at the Broken Hill/Elura Mines.

Crescent Gold's Managing Director, Mr Mark Tory, stated: "The Company is pleased to have been able to attract a COO of the calibre of Mark Hines. I am looking forward to teaming with Mark to strengthen the operations and grow Crescent from its existing platform."

Geoff Stanley, CHAIRMAN

Crescent Gold Limited

Additional information related to the Company is available for review at SEDAR or on the Company's website at www.crescentgold.com.

ABN 49 087 360 996

                                        
                                        
SHARE INFORMATION                       
ASX Share Price:         A$0.053        
Issued Shares:           1,077.9m       
Market Cap:              A$57.1m        
Unlisted options:        32.3m          

Contacts:
Crescent Gold Limited - In Australia
Mark Tory
Interim Managing Director
+61 8 6380 7100
+61 8 6380 7199 (FAX)

Crescent Gold Limited - In Canada
Renee Brickner
604 802 6806
[email protected]
www.crescentgold.com