confirmed up to 11.5 copper 12.6 gt gold and 154g

8th September 2006
By Electronic Lodgement
Company Announcements Office
Australian Stock Exchange Limited
2 The Esplanade
PERTH WA 6000
ASX Code: CRETSX Code: CRAFFT Code: CRE5
Confirmed – up to 11.5% Copper, 12.6 g/t Gold and 154g/t Silver
Assay results grading up to 11.5% Copper, 12.6 g/t Gold and 154 g/t Silver were received today. These results validate a previous result of 7% Copper and highlight the potential for high grade mineralisation at Laverton. The result came from a drill hole testing the 6km long copper – gold soil anomaly next to Admiral Hill.
Previous drilling on a section of the anomaly has delineated a strike length of 1,500m to a depth of 300m and remains open within 100% owned Crescent leases. It lies within a mineralised zone (up to 62m with visible chalcopyrite) and is situated on 100% owned tenements at Laverton.
In addition 6m at 6.5 g/t from 76m was intersected above the Au-Cu-Ag mineralisation in hole CURC002. This intersection lies outside of the current Admiral Hill Gold pit design.
Based on these results the company will carry out an IP survey over the 6km long zone in November (refer Figure 1).
A programme of 7 RC holes for an advance of 996 metres was drilled to collect bulk samples for metallurgical evaluation. A full listing of results is detailed in Table 1 (down hole lengths reported - true widths will be determined).
Better intersections received:
41m at 0.8 % Cu eq (0.6% Cu, 0.7 g/t Au and 5.9 g/t Ag) from 67m
Includes:
3m at 5.6 % Cu eq (4.5% Cu, 4.2 g/t Au and 59.9 g/t Ag) from 98m
25m at 0.5 % Cu eq (0.5% Cu, 0.1 g/t Au and 0.6 g/t Ag) from 45m
Includes
3m at 1.8% Cu from 47m
This zone lies directly below the oxide gold deposit which is part of the company’s Laverton Gold Project mine schedule.
For full details please refer to the company website www.crescentgold.com and www.sedar.com.
Shareholder Update Page 2
Figure 1. Copper Gold soil anomaly
Shareholder Update Page 3
Table 1 –RC drill hole intersections
MetalIntervalCu (Eq)CopperGoldSilverAzimuthDipNorthEastHole IdContentCuAuAg FromTo(m)(%)(%)(g/t)(g/t)(m)(m)A$/tonne11.31.01.21.56061247-606842566448649CURC001136410.80.60.75.9671088535.64.54.259.998101Includes580114.911.512.6154.099100Includes15346--6.5-7682247-606842589448639CURC002-70.60.50.52.189966590.40.30.33.07685247-606842688448636CURC00343247-606842862448529CURC004247-606842872448553CURC005250.50.50.10.64570247-606842917448418CURC0065431.81.80.10.147501881--3.2-9899247-606842926448459CURC007No Significant IntersectionNo Significant IntersectionDepth Mineralised Intercept
Copper Equivalent
Cu (Eq) = Copper equivalent = % copper equivalent = copper grade + [(gold grade x gold price) / (22.0462 x copper price x 31.1035)]. Commodity Prices and Exchange Rates used:
Copper Price US$3.50/lb
Gold Price US$650/oz
Exchange Rate A$:US$ 0.75
Notes for Table
1. Gold analysis undertaken by 50 gram Fire Assay and copper analysis by mixed acid digest with AAS finish by Genalysis, Perth.
2. RC Samples collected over 1 metre intervals using a industry standard 3 tier riffle splitter.
3. Minimum intersection width 1 metres with internal waste of 4 metres.
4. Downhole lengths reported, as true width is unknown.
5. Azimuths are referenced to local grid.
6. No top cut has been applied.
7. Intersection grade rounded to 1 decimal figure.
8. 0.15% Cu cut-off applied to intersections.
Quality Assurance and Quality Control (QAQC) :
Intersections reported have been verified by the company’s QAQC protocols, which include routinely inserted standards and replicate field splits. All samples from drill holes are prepared by Genalysis and pulverised to 90% passing 75 microns then analysed for gold using Fire Assay methods.
Shareholder Update Page 4
“The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Andrew Spinks, who is a Member of The Australasian Institute of Mining and Metallurgy included in a list promulgated by the ASX from time to time. Andrew Spinks is employed by Crescent Gold Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” and a “Qualified Person” under Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects. Andrew Spinks consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.”
In accordance with the requirements of Canadian National Instrument 43-101 further information on the geology and mineralising setting can be found within the "Independent Technical Report on the Mineral Asset of Laverton Gold Project” which is available on SEDAR (www.sedar.com) or the company’s website www.crescentgold.com
Further information on Crescent Gold Limited and technical reports on the Laverton Gold Project can be found on the company’s website www.crescentgold.com.
Caution Regarding Forward Looking Statements
Some of the statements in this news release contain forward-looking information, which involves inherent risk and uncertainty affecting the business of Crescent. Actual events may differ materially from those currently anticipated in such statements. The TSE does not accept responsibility for the adequacy or accuracy of this release.
For further information please contact:
Sheralee Allen or Hayley Patton
+61 8 9322 5833
Regards
Crescent Gold Limited
Andrew Haythorpe
Managing Director