Closes Second Tranche of Financing

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

NEWS RELEASE

CREST RESOURCES INC. CLOSES SECOND TRANCHE OF FINANCING

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE

UNITED STATES

Vancouver, B.C. – September 10, 2019 ‐ Crest Resources Inc. (CSE: CRES) (the “Company”) is pleased to

announce that further to the news releases of August 8, 2019 and August 19, 2019, the Company has

closed the second tranche of its private placement offering (the “Offering”) to raise additional gross

proceeds of $ 202,500 (the “Second Tranche”) through the sale of 2,700,000 common shares priced at

$0.075 per common share.

All securities issued in the Second Tranche are subject to a four month hold period expiring January 1 1,

2020.

The proceeds from the Offering will be used for exploring opportunities in prospect generation and for

general working capital. No finder’s fees were paid on the Second Tranche.

Any additional tranches of the Offering are expected to close on or before September 20, 2019.

FOR FURTHER INFORMATION CONTACT:

Owen C. King

Chairman, President and Chief Executive Officer

Crest Resources Inc.

Telephone: 604-618-1835

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

(including, but not limited to, the overall size of the Offering, the proposed use of proceeds and the expected closing

of any further tranches thereof) and reflect management’s current expectations and assumptions. Such forward -

looking statements reflect management’s current beliefs and are based on assumption s 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 o btaining governmental approvals and permits, and other risks in the mining industry. All the

forward-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.

THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS

SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL

2

SECURITIES AND THE COMPANY IS NOT SOLICITING AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. THESE

SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR

ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS

UNLESS REGISTERED OR EXEMPT THEREFROM.