Crest Announces Closing of Leigh Creek Acquisition

CREST RESOURCES INC.

#2501-550 Burrard Street Vancouver BC V6C 2B5

NEWS RELEASE

CREST ACQUIRES 100% OF LEIGH CREEK MAGNESITE PROJECT

Vancouver, B.C. – June 19, 2024 ‐ Crest Resources Inc. (CSE: CRES) (the “Company” or “Crest”) is pleased

to announce it is closing the acquisition of 100% of the Leigh Creek Magnesite Project, as announced on May

24, 2024.

Jason Cubitt, Crest’s CEO noted, “We believe that consolidating the Leigh Creek Project makes for a

compelling value proposition for Crest, and allows u s maximum flexibility as we start to re -activate the

project.”

Located in the state of South Australia, approximately 6 hours north of Adelaide, the Leigh Creek Magnesite

Project consists of two exploration licences covering 664 square kilometres which host crypto -crystalline

magnesite mineralisation occurring in multiple near-surface dolomite beds.

Crest is issuing 500,000 common shares to Volatus Capital, which owns 20% of one of the exploration licences

and a further 4,5 00,000 Crest common shares, are being distributed pro-rata between all the shareholders of

Witchimag Pty Ltd., the Australian private company which owns 100% of Exploration Licence 6019 and 80%

of Exploration Licence 6573 in the state of South Australia (see also Note 8 of the Company’s recent interim

financials for the period ending August 31, 2023). The issuance of the common shar es is subject to the

Company’s filing requirements with the CSE, and once issued, the shares will bear a hold period of 4 months

and one day from the date of issuance.

FOR FURTHER INFORMATION CONTACT:

Jason Cubitt

Chief Executive Officer

Emma Fairhurst

Chairperson

Crest Resources Inc.

Telephone: 778 819 1870

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.