Crest Acquires Eresource Technologies I, Llc to Focus ON the Application of Technological Innovation IN the Resource Industry

CREST RESOURCES INC.

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NEWS RELEASE

CREST ACQUIRES ERESOURCE TECHNOLOGIES I, LLC

TO FOCUS ON THE APPLICATION OF TECHNOLOGICAL INNOVATION IN THE RESOURCE INDUSTRY

Vancouver, B.C. – January 22, 2021 - Crest Resources Inc. (“Crest” or the “Company”) (CSE: CRES)

announces that it has entered into a Share Purchase and Sale Agreement (the “Agreement”) to acquire all

of the issued and outstanding shares of EResource Technologies I, LLC (“EResource”), a Silicon Valley based

company in consideration for 4,000,000 common shares of the Company at a deemed price of $0.09 per

share (the “Payment Shares”) . EResource is a newly formed private company wholly -owned by Jonas

Norr, a Director of the Company (“Norr”), that intends to seek out and acquire technologies of use in the

resources industry. The Payment Shares will be held in escrow by the Company to be released to Norr as

to 1,000,000 Payment S hares upon execution of the Agreement and an additional 750,000 Payment

Shares every six months thereafter over a period of 24 months.

EResources will target core technologies that deliver social impact while addressing the most pressing

efficiency concerns for core industries including but not limited to: Natural Reso urces, Energy, and

associated material science technology , by utilizing ground breaking solutions offered by artificial

intelligence, robotics, chemistry, and the biosciences. With the close of this transaction, work will begin

immediately with an initial cohort of solutions to be identified and alpha -tested by late Q1 of 2021. The

purchase seeks to offer an innovative alternative to venture capital for core technologies with robust

industry applications outside of the most active global innovation hubs.

Crest President and CEO Michael Collins comments, “2020 has seen a renewed focus in Silicon Valley on

ESG and resource access issues. Elon Musk’s assurances of lithium supply is indicative of Tesla’s concern

over their lithium supply. The stock market is driven by rumours of new battery composition. With this

acquisition, Crest is enabling itself to move in ways that harness core innovations developed by leading

authorities that can deliver impact on material science, related technologies, and ESG. We at Crest feel

strongly that is a clear differentiated value proposition where we can lead and capture value for our

shareholders.”

Jonas Norr observes, “The resource industry and the energies that drive it are core to modern life as we

know it, yet the pace at which innovation and sustainability have been adopted and integrated across the

value and production chains that they depend on rarely exceeds a crawl. The market and planetary need

clearly remains. Traditional venture capital has proven largely inconducive to delivering innovation to the

more real asset/project oriented elements of these industries. However, the solutions are out there. The

move to acquire go-to-market technologies poised for industrial scale implementation is the point from

which EResource with Crest can change the game.

Populational need has driven technology to rarely-imagined heights in the realms of compute, energy,

automation, materia ls, mobility, and space . Where others have seen impossibility in meeting

sustainability goals in concert with their bottom-line requirements, we see near-term opportunity

emerging from these areas that can deliver tremendous value.”

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Larry Fink, CEO of Blackrock Inc., said in his 2020 letter to CEOs that sustainability is the ‘top issue’ for

investors. Crest feels this focus is real, justified and represents a long term trend that will provided a

platform for Crest to grow.

The continued release of the Payment Shares is subject to Norr satisfying the following conditions:

(a) Norr shall continue as a director, officer, consultant or advisor of Crest failing which, unless Crest

otherwise agrees it may, on 30 days notice, cancel any Payment Shares remaining in escrow; and

(b) Norr will continue to provide services to EResource under a technology acquisition agreement

with EResource (the “Technology Agreement”) for a term of 24 months. The Technology

Agreement contemplates that Norr will present to EResource technologies of use in the

exploration, development or mining of natural resources. If Norr does not provide opportunities

for a period of six months Crest may, on 30 days notice, cancel any Payment Shares remaining in

escrow.

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. The Company’s Canadian mineral property assets

include various land and corporate ownership positions within the Exploits Subzone, the newest emerging

district-scale gold exploration and mining district in the province of Newfoundland and Labrador.

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.