Crest Completes Non-Brokered Private Placement

CREST RESOURCES INC.

Suite 3043 - 595 Burrard Street, Vancouver, BC V7X 1J1

T 778-819-2709

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THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR

DISSEMINATION IN THE UNITED STATES

NEWS RELEASE

CREST COMPLETES NON-BROKERED PRIVATE PLACEMENT

Vancouver, B.C. – March 9, 2022 ‐ Crest Resources Inc. (CSE: CRES) (the “Company” or “Crest) is

pleased to announce completion of a non-brokered private placement of 14,700,000 units at a price of $0.05

per unit for gross proceeds of 735,000 (the “Offering”).

Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder

to purchase one additional common share of the Company at a price of $0. 10 for a term of three years

expiring March 9, 2025.

All securities issued are subject to a four month hold period expiring July 10, 2022. In addition to the four

month hold period, at the Company’s direction, the securities will be restricted from resale for a period of

thirty (30) months from March 9, 2022, provided that such restriction shall expire if, at any time after July

10, 2022 , the 10 day volume weighted average price of the common shares of Crest as traded on the

Canadian Securities Exchange is equal to or greater than $0.25, as evidenced by a news release issued by

the Company.

The proceeds from the sale of the units will be used for general working capital.

Emma Fairhurst (“Fairhurst”), the Company’s Chairperson, interim CEO and Director, acquired 8,000,000

units of the Company. As a result, she now owns, directly and indirectly, 33.59% of the outstanding shares

of the Company or 43.72% assuming exercise of all warrants held by Fairhurst and is a “control person” as

that term is defined under securities legislation.

Fairhurst purchased the units for investment purposes. The Offering and the acceptance of the subscription

by Fairhurst was approved by unanimous resolution of the board of directors of the Company. There was

no formal valuation of the Company done in connection with the Offering nor has there been such a formal

valuation in the past 24 months. The Company relied upon the exemptions contained in Section 5.5(b) and

5.7(b) of Multilateral Instrument 61 -101 (“MI 61 -101”) to avoid the formal valuation and shareholder

approval requirements of MI 61-101. For the purposes of Section 5.5(b), the Company does not have any

securities listed on any of the stock exchanges set out in Section 5.5(b) and for the purposes of Section

5.7(b) the exemption was available as the consideration paid for the units subscribed for by Fairhurst was

less than $2,500,000.

About Crest Resources Inc.

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. The Company’s Canad ian 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, mineral recovery systems with

3RC/Ecomine/Gemina Labs, copper and gold exploration in the Toodoggone with Volatus Capital and

vanadium in Queensland Australia.

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FOR FURTHER INFORMATION CONTACT:

Christopher Huggins

President and COO

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.