CRES Completes Acquisition of Lunar Frog Gold Property in Toodoggone District, BC

CREST RESOURCES INC.

S u i t e 11 00 - 5 95 H o w e S t re e t , V a n c o u v e r , B C V6 C 2 T 5

T ( 6 0 4) 6 8 1- 3 1 7 0, F ( 6 0 4 ) 681 -3552

NEWS RELEASE

Crest Resources Completes Acquisition of Lunar Frog Gold Property in

Toodoggone District, British Columbia

Vancouver, B.C. – July 16, 2020 – Crest Resources Inc. (“Crest” or the “Company”) (CSE: CRES) is pleased

to announce that further to its news release of July 13, 2020, the Company has completed the acquisition

of a 100% interest, subject to a 1% net smelter returns royalty, in the Lunar Frog gold property located

approximately 170 kilometres east-southeast of Dease Lake in the Toodoggone district of northern British

Columbia for consideration of 1,000,000 common shares of the Company . The shares are subject to a

hold period expiring November 17, 2020.

About Crest Resources Inc.

Crest Resources Inc. is a British Columbia company listed on the Canadian Securities Exchange under the

symbol CRES. The Company’s principal business activity is the acquisition, exploration and evaluation of

mineral property assets in Canada, Australia an d Peru and the investment in mineral exploration

companies and related mining technologies of merit. The Company’s Canadian mineral property assets

include various land positions totalling 977 km2 (97,700 hectares) within the Exploits Subzone, the newest

emerging district -scale gold exploration and mining district in the province of Newfoundland and

Labrador.

FOR FURTHER INFORMATION CONTACT:

Michael Collins

President and CEO

Crest Resources Inc.

Telephone: 604-681-3170

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.