CRES Completes Sale of Exploits Gold Shares to Origen Resources Inc.
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 SALE OF SHARES OF EXPLOITS GOLD CORP.
TO ORIGEN RESOURCES INC.
Vancouver, B.C. – September 8, 2020 - Crest Resources Inc. (“Crest” or the “Company”) (CSE: CRES)
announces that further to the Company’s news release of September 1, 2020, the Company has
completed the sale of 3,000,000 common shares of its investment in Exploits Gold Corp. (“Exploits”, a
private company with mineral properties in Newfoundland ) to Or igen Resourc es I nc. (“Origen”) for
4,200,000 common shares of Origen. The Company corrects an errata in its previous news release that
incorrectly stated the consideration as 4,620,000 common shares of Origen.
The transaction is considered to be a non-arm’s length transaction because Michael Collins (“Collins”), the
President, Chief Executive Officer and a director of Crest, is also a director of Origen. Following completion
of the transaction, the Company will own and control 4, 200,000 common shares of Origen representing
16.09% of the then issued and outstanding common shares based on an estimated total of 26, 110,825
common shares outstanding. The Company together with its joint actors will own and control 4,800,000
common shares representing approximately 18.38% of the pro -forma issued and outstanding common
shares of Origen.
The Company further announces that it has completed the sale of 1,000,000 common shares of Exploits
to a private company of which Collins is a director for consideration of a note payable of $350,000 that is
payable on demand and accrues interest at a rate of 6% per annum. The shares are pledged as collateral
for the promissory note.
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 and Peru and the investment in mineral exploration
companies and related mining technologies of merit. Crest is committed to creating significant
shareholder value thr ough advancing a high -quality blended portfolio of resource development and
discrete technology plays that build on corporate knowledge and relationships and drive value outside of
the mining cycle, as well as direct investment in undervalued exploration plays at an early stage.
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.
2
{01685590;1}
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 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.