Crest Adopts Restricted Share Unit Plan

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 ADOPTS RESTRICTED SHARE UNIT PLAN

Vancouver, B.C. – November 20, 2020 – Crest Resources Inc. (“Crest” or the “Company”) (CSE: CRES)

announces that effective November 19, 2020 it has adopted an amended restricted share unit plan (the

“RSU Plan”), to that previously approved by the Board of Directors on February 28, 2020 (as later amended

April 20, 2020).

For awards granted under t he RSU Plan to exceed 10% o f the Company’s outstanding shares in any 12

month period, the plan must be approved by the Company’s shareholders. In that regard, the Company

has mailed to its Shareholders an Addendum to its Information Circular dated October 30, 2020 pertaining

to its Annual and Special Meeting to be held on December 3, 2020 (the “Meeting”). The resolution to

approve the RSU Plan must be approved by a simple majority of all eligible votes cast by disinterested

shareholders. All persons who could participate under the RSU Plan will not be entitled to vote on the

resolution, such that 4,300,000 shares held by such p ersons will be excluded for the purpose of

determining shareholder approval.

The Addendum and the RSU Plan are filed on SEDAR , and copies are available from the Company on

request.

The purpose of the RSU Plan is to allow for certain discretionary bonuses and similar awards to be granted

as an incentive or reward for selected eligible persons related to the achievement of the Company’s

objectives, including increases in the value of the Company. The Plan is intended to promote a greater

alignment of interests between the objectives of the Company and the selected eligible persons by

providing an opportunity to participate in increases in the value of the Company.

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 busine ss 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. 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.