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Crescent Resources Reports Drilling Results From Oviedo Uranium Project Paraguay

Friday, November 16th, 2007

Crescent Resources Corp. is pleased to announce results from the first eleven drill holes completed to date as part of a 20,000 metre drill program on the Oviedo Uranium Project in Paraguay. Management of the Company considers these initial drill results to be very encouraging as all holes intersected uranium mineralization, of which four holes (TC-1004, TC-1009, TC-1011 and TC-1013) intersected mineralization that exceeds a minimum G/T (grade/thickness factor) of 0.3 ft% eU308, similar to uranium deposits currently being mined by in-situ recovery methods. The holes are spaced at approximately 100 metre intervals within a corridor approximately 300 metres wide by 600 metres long on the southern part of this large 504,000 hectare property. The uranium mineralization is open in all directions and the drilling will continue with the objective to further expand this mineralized zone and to delineate other known mineralized areas on the property.
Drill Hole(1), To(m), From(m), Thickness(m), Average Grade(%eU3O8), G/T(3)(%m), G/T(%feet)
TC-1004(2) 242.00 247.00 5.00 0.05 0.256 0.84
TC-1005 234.30 235.90 1.60 0.021 0.031 0.102
TC-1006 234.80 235.90 1.10 0.022 0.025 0.082
” 241.69 243.49 1.80 0.018 0.033 0.108
TC-1007 232.61 235.30 2.70 0.026 0.070 0.230
TC-1009 233.71 238.19 4.48 0.031 0.139 0.456
TC-1010 237.60 239.79 2.19 0.019 0.042 0.138
TC-1011 234.30 238.00 3.70 0.031 0.114 0.374
TC-1012 236.80 238.10 1.30 0.041 0.053 0.174
TC-1013 237.10 242.00 4.90 0.043 0.210 0.689
” 251.46 253.46 2.00 0.047 0.093 0.305
NOTES:(1) Drill holes TC-1001 and TC-1008 were abandoned before completion.
TC-1002 and TC-1003 only intersected anomalous uranium mineralization.
(2) Results first released in NR 2007-8 on October 15th 2007.
(3) Grade/Thickness factor %eU3O8 x thickness in metres.(4) Grade/Thickness factor %eU3O8 x thickness in feet.
Michael Hopley, President of Crescent states, “Intersecting uranium mineralization in all holes completed to date is very encouraging for the long-term exploration of the Oviedo Uranium Project. This early success clearly demonstrates the potential for the Oviedo Project to host multiple zones of roll front uranium mineralization along the 200 kilometre long property.”
For further information visit: www.crescentresourcescorp.com

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