CRES Congratulates Volatus on Agreement to Option JD Gold-Silver-Copper Property in Toodoggone Mining Camp, 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
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NEWS RELEASE
CREST RESOURCES CONGRATULATES 31.72% OWNED VOLATUS CAPITAL CORP. ON AGREEMENT TO
OPTION THE JD GOLD-SILVER-COPPER PROPERTY IN THE HEART OF THE TOODOGGONE MINING
CAMP, BRITISH COLUMBIA
Vancouver, B.C. – August 13, 2020 - Crest Resources Inc. (“Crest” or the “Company”) (CSE: CRES) is pleased
to congratulate Volatus Capital Corp. (“Volatus”) for entering into an agreement to option the JD Project
in the heart of the Toodoggone gold and copper camp in northern British Columbia. Crest owns a 31.72%
interest in Volatus and together with Michael Collins, the President, CEO and a director of both Crest and
Volatus, owns and controls a 35.24% interest in Volatus. This potential acquisition is in furtherance of
Crest’s strategy to invest in and develop value in well-structured and proactive exploration companies in
Canada and around the world.
The JD Project forms one contiguous property of thirty-two mineral claims ( 13,697 ha) located in the
resurgent Toodoggone mining camp located in northern British Columbia.
Project Highlights:
• Center of the Toodoggone District which is seeing a resurgence of interest in 2020 with
Benchmark Metals Inc. working on the Lawyers gold deposit with a 50,000m drill program.
• $15 million in historical work on the Project focused primarily on the epithermal gold targets.
• The JD property hosts the Finn historical gold resource (see below).
• High grade zone with the Finn deposit has grades of up to 13.28 g/t gold over 8.8m.
• 12 other significant Au and Au/Ag targets ranging from high grade veins, to stratiform and fault
zone hosted mineralization with grades of up to 4m at 103.3g/t Au, 92.2 g/t Ag, 1.34% Cu and
11.7% Zn.
• Freeport-McMoran of Canada Ltd explored for and was developing a strong porphyry target
from 2017 to 2019 before withdrawing for corporate reasons, leaving a well -developed but
untested copper porphyry target.
• The Toodoggone region hosts Lawyers, Kemess, Baker and Shasta historic mines.
The JD Property is 280 km northeast of the Smithers, B ritish Columbia Omineca Mining Division in the
historically significant Toodoggone gold district of north -central British Columbia. The JD Property is
strategically located in the center of the Toodoggone District. It lies adjac ent to the north and east of
Benchmark’s Lawyers property, adjacent to the south of the Porphyry Pearl and Oxide Peak properties
and some 15 km south of Evergold’s Golden Lion property on the north and east. The Guardsmen’s Ranch
property is adjacent to the west.
Crest and Volatus President Michael Collins comments, “The Toodoggone District has been neglected for
over 40 years but is finally seeing the focus it deserves. Volatus has been building a land position in the
Toodoggone for months now and the JD acquisition is the corner piece of this work. It is exciting to see
Volatus mature into a well focused exploration and development company to the benefit of Crest
shareholders.”
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Terms
Under the terms of the option agree ment dated July 27, 2020, Volatus may earn a 100% interest in 32
mineral claims (13,697 ha) by making cash payments of $1,170,000 and issuing 4,075,000 common shares
over a five-year period to the arm’s length vendors, in addition to financing exploration expenditures of
$16 million over a total 75-month period. The Property is subject to net smelter return (“NSR”) royalties
ranging from 1.25% to 2.5% , of which Volatus may purchase 40% of the NSR for $5 million at any time,
and annual advance royalty payments of $200,000 commencing on the seventh anniversary of the
effective date of the agreement. A finder’s fee of 113,571 common shares in Volatus is payable to an arm’s
length party in relation to the transaction.
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 through 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 adequac y of accuracy of this
news release.
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, envi ronmental 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 t hese 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 refle ct new events or
circumstances save as required by applicable law.