resolution of litigation bemex corporation pty

Crescent Gold Limited

TSX: CRA
ASX: CRE
FRANKFURT: CRE5


Jun 09, 2008 00:01 ETCrescent Gold Limited: Resolution of Litigation-Bemex Corporation PTY Ltd
PERTH, WESTERN AUSTRALIA--(Marketwire - June 9, 2008) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Crescent Gold Limited (the company) (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5) is pleased to announce that as a result of a mediation between the Company and Bemex Corporation PTY Ltd (Bemex) a mutually acceptable settlement has been reached.

The settlement resolves all claims and counterclaims by Crescent and Bemex relating to disputed invoices for the Plant Refurbishment and Expansion Contract and the Processing Plant Operations and Maintenance Management Services Agreement, which was terminated by Crescent on 25 July 2007. The terms of settlement include that the Company has agreed to pay $1.9 million, and transfer a decommissioned crushing and screening plant to Bemex.
Roland Hill, Managing Director

Further information relating to Crescent Gold, can be viewed at www.sedar.com or on the Company's website at www.crescentgold.com.

Further information on Crescent Gold Limited and technical reports on the Laverton Gold Project and all aspects of the Company's activities can be found on the company's website www.crescentgold.com.