CRES to Sell Shares of Exploits Gold Corp. 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 TO SELL SHARES OF EXPLOITS GOLD CORP. TO ORIGEN RESOURCES INC.
Vancouver, B.C. – September 1, 2020 - Crest Resources Inc. (“Crest” or the “Company”) (CSE: CRES)
announces that the Company proposes to sell 3,000,000 common shares of its investment in Exploits Gold
Corp. (“Exploits”, a private company with mineral properties in Newfoundland ) to Origen Resources Inc.
(“Origen”) for 4,620,000 common shares of Origen. The Company also proposes to sell a further 1,000,000
common shares of Exploits to a non-arm’s length party.
Origen is a British Columbia junior exploration company listed on the Canadian Securities Exchange (the
“CSE”) engaged in generating, acquiring and advancing base and precious metal properties. Origen
currently holds a property portfolio of four 100% owned precious and base metal projects in southern
British Columbia and recently acquired a 100% interest in the 26,771 ha LGM project and an option to
acquire a 100% interest in the 3,971 ha Wishbone property in the mineral rich Golden Triangle of British
Columbia.
The Transaction
The transaction with Origen is valued at $924,000 based on the closing market price of Origen’s shares on
the CSE of $0.20 on August 31, 2020. 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 4,620,000
common shares of Origen representing 17.41% of the then issued and outstanding common shares based
on an estimated total of 26,530,825 common shares outstanding. The Compa ny together with its joint
actors will own and control 5,220,000 common shares representing approximately 19.68% of the pro -
forma issued and outstanding common shares of Origen.
The Company further proposes to sell 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 technologi es 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
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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.
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 mater ially 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, del ays 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.