CRES Completes Disposition of Split Dome Copper Project and Acquires Shares of Volatus Capital Corp.

CREST RESOURCES INC.

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NEWS RELEASE

CREST RESOURCES INC. COMPLETES DISPOSITION OF SPLIT DOME COPPER PROJECT

AND ACQUIRES SHARES OF VOLATUS CAPITAL CORP.

Vancouver, B.C. – February 6, 2020 ‐ Crest Resources Inc . ( CSE: CRES) (the “Company” or “Crest” ) is

pleased to announce that further to its news release of February 3, 2020, the Company has completed

the sale of its 100% interest in the Split Dome copper project located near Hazelton, British Columbia to

Volatus Capital Corp. (“Volatus”) for considera tion of 3,000,000 common shares at a deemed price of

$0.06 per share and 1,500,000 common share purchase warrants exercisable at a price of $0.10 per share

for a period of 36 months, for total consideration of $180,000.

The Company further announces that it has acquired 500,000 common shares of Volatus through open

market transactions at a price of $0.08 per share for total cost of $40,000.

The Company now owns and controls a total of 8,000,000 common shares of Volatus representing 47.3%

of the issued and outstanding shares of Volatus, being 16,925,001 common shares as of the close of the

transactions. Assuming exercise of the warrants, the Company will own 9,500,000 common shares or

approximately 51.56% of the issued and outstanding shares of Volatus.

The common shares acquired in the property transaction were acquired in a private transaction from a

single vendor pursuant to the private agreement exemption from the formal take -over bid requirements

of National Instrument 62-104, Take-Over Bids and Issuer Bids, on the basis that the common shares were

acquired from less than five vendors at a purchase price not exceeding 115% of the then market price of

the Issuer’s shares.

The common shares acquired in open market transactions were acquired pursuant to the normal course

purchase exemption from the formal take -over bid requirements of National Instrument 62 -104, Take-

Over Bids and Issuer Bids, on the basis that the bid is for not more than 5% of the outstanding securit ies

of a class of securities of the Issuer.

ABOUT CREST RESOURCES INC.

Crest Resources Inc. is a proud 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 and the investment in mineral exploration and mining technology

companies of merit with potential for favourable return on investment. The Company’s mineral property

assets are the Chala Copper property in Peru (65% owned) and the Red Metal Ridge property on

Vancouver Island, British Columbia (51% owned and 49% under further option). At the Company’s annual

general meeting held November 25, 2019, the Company’s shareholders approved a resolution authorizing

the Company to expand its corporate objectives including to become an investment issuer.

FOR FURTHER INFORMATION CONTACT:

Michael Collins

President and CEO

Crest Resources Inc.

Telephone: 604-681-3170

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The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and

accepts no responsibility for the adequacy or accuracy hereof.

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance

and reflect management’s current expectations and assumptions. Such forward -looking statements reflect

management’s current beliefs and are based on assumptions made by and information currently available to the

Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and

are subject to risks and uncertainties that may cause future results to differ materially from those expected including,

but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other

activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining

governmental approvals and permits, and other risks in the mining industry. All the fo rward-looking statements

made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings

available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the

Company does not assume any obligation to update or revise them to reflect new events or circumstances save as

required by applicable law.