Crest and Exploits Syndicate Stake Pb Hill GOLD Claims in the Exploits Subzone, Newfoundland
CREST RESOURCES INC.
Suite 3043- 595 Burrard Street, Vancouver, BC V7Z 1J1
T (778) 819-2709
NEWS RELEASE
CREST AND EXPLOITS SYNDICATE STAKE PB HILL GOLD CLAIMS IN THE
EXPLOITS SUBZONE, NEWFOUNDLAND
Vancouver, B.C. – June 3, 2021 - Crest Resources Inc. (“Crest” or the “Company”) (CSE: CRES) is pleased to
announce that the Company has entered into a 50/50 staking syndicate agreement with Exploits Discovery
Corp. (“Exploits”) (CSE: NFLD) and acquired through staking the 100% owned PB Hill Property (the
”Property”) located in prospective siliciclastic sediments of the Exploits Subzone Gold Belt, Newfoundland.
Highlights
● The PB Hill Property is a large contiguous land package that encompasses a land area of ~1,986
km² (198,600Ha).
● Previous exploration of the Property focused mainly on the highly magnetic mafic/ultramafic rim
that hosts numerous significant gold and base metals occurrences, including a historical inferred
resource at the Mosquito Hill Prospect of 4.47MT of 0.526g/t Au indicated, 32.9MT of 0.461g/t
Au inferred located 3 km east of the property boundary.
● New proven model in the Exploits Subzone Gold Belt suggests that gold is transported in primary
structures (ie. Dog Bay Line, Appleton Fault) associated with magnetic lows and deposited in
secondary and tertiary structures within the siliciclastic sediments of the Davidsville Group.
● The geophysical signature of the Property highlights multiple untested distinct en-echelon
geophysical structures near an extreme low as indicated by the NL Government residual
magnetic survey. These are deemed to be high priority targets
● With most terrain that strays from major highways and bush trails virtually unexplored, we
believe there is reason to continue to leverage our increased geological understanding in the
area and create increased shareholder value.
Following recent discoveries in the Exploits Subzone Gold Belt of Newfoundland, early indications of
success across the region show the potential for a district size gold camp that’s being compared to Ontario
and Quebec’s Abitibi Greenstone Belt. Although the Exploits Subzone Gold Belt is different in age; similar
rheological processes involving gold mobilization in deep seated structures, emplacing gold in later stage
secondary, tertiary and quaternary structures indicate the opportunity for thousands of square kilometers
of underexplored gold potential.
The Crest technical team have leveraged their diverse knowledge of the geology of central Newfoundland
and this switch in exploration mindsight early on, to help build Exploits Discovery Corp. With the largest
foothold in the Exploits Subzone, the Crest and Exploits staking syndicate delivers increased shareholder
value to both companies on the jointly owned PB Hill Property.
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Area Map of The PB Hill Property
About The PB Hill Property
The PB Hill Property is situated in the siliciclastic sediments of the Davidsville Group, in the Exploits
Subzone Gold Belt, Newfoundland. The Project encompasses a total land area of approximately 1,986 km²
(198,600 Ha). The project has had very little work completed due to the majority of focus revolving around
base metal exploration; Crest sees this as an opportunity for discovery. The perimeter of the project has
undergone multiple exploration programs over the past 75 years with the following government
documented results:
● Great Rattling Brook (MODS 002D/12/Au 001) - 21 samples over strike of 75m give 0.1 to 2.3 g/t
Au in melange of pyritic, graphitic shale bounded by ultramafics and chlorite schist.
● Lizard Pond South (MODS 002D/11/Au 002) – Channel samples upto 12.58 g/t Au over 0.4m.
DDH – 2.6 g/t Au over 1.0m, 2.3 g/t Au/1.0m, 1.54 g/t Au/0.7m.
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● Lizard Pond North (MODS 002D/11/Au 003) – Grab sample of 1.47g/t Au, trench channel
sample of 0.96 g/t Au /1.0m, 0.91 g/t Au /1.0m.
● Breccia Pond (MODS 002D/11/Au 004) – trench channel of 3.24 g/t Au/1.0m, DDH of 0.84 g/t
Au/0.7m.
● Swan Lake (MODS 002D/11/Au 005) – Trench channel sample of 3.1 g/t Au /2.0m
● Chiouk Brook (MODS 002D/11/Au 001)– DDH 1986 – 14.5 g/t Au/0.25m US Borax, DDH 2003 –
2.04 g/t Au/5.9m, 3.6 g/t Au /1.7m, 2.7 g/t Au/0.84m
● Mosquito Hill (MODS 002D/05/Au 008) – 4.47MT of 0.526 g/t Au indicated, 32.9MT of 0.461g/t
Au inferred. Has DDH such as 0.67g/t Au/103.35m including 7.56 g/t Au/1.0m, 2.61 g/t Au/2.0.
● Brady/Reid Porphyry Zone (MODS 002D/05/Au 006) – 1.1g/t Au/21.5, 1.6 g/t Au/20.0, 2.2 g/t
Au/10.6, 0.96 g/t Au/36.1, 1.1 g/t Au/41.4. Best grab sample of 6.9 g/t Au in ultra mafics with
high Pyrite and Arsenopyrite.
Crest and Exploits believe there is major upside potential for ad ditional discoveries in the Exploits
Subzone, with application of the new epizonal geological model. With most areas that stray from major
highways virtually unexplored, we believe there is reason to continue to leverage our increased geological
understanding in the area and create shareholder value.
References:
All Mineral Occurrence Data System codes (MODS) listed above can be found at the following
Newfoundland and Labrador Department of Natural Resources Link:
https://gis.geosurv.gov.nl.ca/mods/mods.asp
About Crest/Exploits Staking Syndicate
The Crest/Exploits staking syndicate is a 50/50 per -cent Syndicate agreement where Crest has provided
the Geological Intellectual Property for the staking thesis, and Exploits has funded the staking expenses.
Exploits will receive the first 1.2 times cost return on investment and further benefit will be divided on a
50/50 per-cent basis.
NI 43-101 Disclosure
Nicholas Rodway, P.Geo, is an officer of t he Company and qualified person as defined by National
Instrument 43 -101. Mr. Rodway supervised the preparation of the technical information in this news
release.
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 tec hnology plays that build on corporate intellectual property, industry knowledge, and
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relationships which drive value outside of the mining cycle, as well as via direct investment in undervalued
exploration plays at an early stage.
FOR FURTHER INFORMATION CONTACT:
Michael Collins
President and CEO
Crest Resources Inc.
Telephone: (778) 819-2709
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 expe ctations 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 explora tion 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.