Crest Provides Update on Share Consolidation

CREST RESOURCES INC.

2900-733 Seymour Street, Vancouver BC V6B 0S6 T 778-819-2709

NEWS RELEASE

CREST PROVIDES UPDATE ON SHARE CONSOLIDATION

Vancouver, B.C. – March 20, 2023 ‐ Crest Resources Inc. (CSE: CRES) (the “Company” or “Crest”) announces that further to its news release of March 16, 2023, its common shares will consolidate effective Thursday, March 23, 2023 on a 3 old for 1 new basis. The Record Date for consolidation is March 24, 2023.

There is no change in the trading symbol for Crest. Any fractional shares arising upon the consolidation will be rounded to the nearest whole number of common shares. Outstanding stock options and share purchase warrants will also be adjusted by the consolidation ratio and the respective exercise prices adjusted accordingly.

Letters of transmittal describing the process by which shareholders may obtain new certificates representing their consolidated common shares through a broker or other intermediary and consequently not having shares registered in their name will not be required to complete a letter of transmittal.

Following the consolidation and subject to rounding, the Company will have approximately 41,914,007 common shares outstanding and 16,135,000 shares reserved for issuance.

About Crest Resources Inc.

The Company’s principal business activity is the acquisition, exploration and evaluation of mineral property assets in Canada and Australia and the investment in mineral exploration companies and related mining technologies of merit.

FOR FURTHER INFORMATION CONTACT:

Jason Cubitt Chief Executive Officer

Emma Fairhurst Executive Chairperson

Crest Resources Inc.

Telephone: 778 819 2709

Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.

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