New Found GOLD and Eric Sprott Invest $8M with Exploits

CREST RESOURCES INC.

Suite 3043 - 595 Burrard Street, Vancouver, BC V7X 1L7

T (778) 819-2709

NEWS RELEASE

NEW FOUND GOLD AND ERIC SPROTT INVEST $8M WITH EXPLOITS

Vancouver, B.C. – May 1 2, 2021 ‐ Crest Resources Inc. (CSE: CRES) (“Crest” or the “Company”)

congratulates Exploits Discovery Corp (CSE: NFLD) on it’s $8 million fund raising with key investors New

Found Gold (TSXV: NFG) and Mr. Eric Sprott. The entire Private Placement is being fully subscribed and

invested into by Mr. Sprott and New Found Gold; with each party investing $4,000,000. Upon completion

of the financing, Mr. Sprott will hold 15.1% on a non -diluted basis and 26.3% on a partially diluted basis

assuming exercise by Mr. S prott of all Warrants held; while New Found Gold will hold 13.6% on a non -

diluted basis and 19.2% on a partially diluted basis assuming exercise by New Found Gold of all Warrants

held.

Michael Collins, Chief Executive Officer and President of Crest Resour ces, commented: "This increased

investment from existing shareholders Mr. Eric Sprott, and New Found Gold provides a strong signal to

the market that Newfoundland in general, and Exploits specifically are well positioned for discovery. Our

investment in Exploits Discovery Corp. continues to drive value for Crest shareholders. Exploits is a great

example of our core philosophy for investing and building exploration and related mining technology

companies. Crest continues to build and develop value in similar projects, investments and technologies."

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, explorat ion 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 assets include various land

and corporate ownership positions w ithin 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.

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 even ts or future

performance and reflect management’s current expectations and assumptions. Such forward -looking

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statements reflect management’s current beliefs and are based on assumptions made by and information

currently available to the Company. Readers a re 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, avai lability of

financing, actual results of the Company’s exploration 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 mini ng 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.