Phase Three Drill Program Commences at El Creston  

VANCOUVER, BC - Creston Moly Corp. reported that a Phase Three 15 hole diamond drill program totaling 2,000 metres in length has commenced at its El Creston molybdenum deposit located in the state of Sonora, Mexico. The drilling is part of a program being completed to advance the deposit towards the completion of a feasibility study. The program will consist of infill drilling within the recently expanded Main Zone and within the Red Hill Zone to determine if both zones can be combined in a NI 43-101 compliant resource estimate.

"After significantly expanding the Main Zone limits we are now proceeding with an infill program so that these results may be incorporated into a revised resource estimate," said Bruce McLeod, President & CEO.In addition we have begun infill drilling on the Red Hill Zone so that a 43-101 compliant resource may be calculated and incorporated into a feasibility study on the El Creston molybdenum deposit."

Since the start of 2010, Creston Moly Corp has completed two phases of drilling totaling 7,200 metres in length at its El Creston molybdenum deposit. The purpose of the drilling was to: Test the north end of the Main Zone where all of the northern most holes (located along a 350 metre segment of the resource outline) intersected significant molybdenum values including sections of 186.05 and 160.55 metres assaying 0.109% and 0.106% molybdenum, respectively; Complete in-fill drilling in areas of limited drilling within the Main Zone;  Complete drill testing for structural and hydrological information; Complete limited testing of the Red Hill Zone with the purpose of defining a zone that may be incorporated into the proposed El Creston Open Pit. During the Phase One drill program three holes were drilled north of the Red Hill Zone, including holes, EC10-84 and 85, to test for extensions to the Red Hill Zone with a third drilled for geotechnical information. In addition, during the Phase Two drill program two drill holes were completed within the zone where there was a gap in the information.

The drill programs have resulted in the completion of 27 exploratory and 9 geotechnical holes of which the Company has received and released the results for seventeen exploratory and three geotechnical holes. The remaining drill results will be released once the assays become available.

The Phase One drill program tested a 600 metre segment of the northern resource boundary of the Main Zone within and adjacent to the proposed open pit in order to determine whether additional above cut-off grade resources could be identified. The program was successful in outlining areas for possible expansion with more drilling being required to determine the ultimate size of the zone. Drilling along the south side of the zone shows it to be open to the west with a well defined area of hypogene copper mineralization associated with molybdenum values occurring in the southern portion of the zone. The copper/molybdenum zone is extensive and open to the west. When the intersections are converted to molybdenum equivalent all holes reported above cut-off grade (0.037% molybdenum equivalent) intersections.

Limited drilling completed at Red Hill Zone has shown it to be in part open to the north with anomalous molybdenum and copper values occurring within a potential pit that would include both the Main and Red Hill Zones.

The company's address is Suite 860, 625 Howe Street, Vancouver, BC  V6C 2T6, 604-694-0005, fax: 604-684-9365, email: [email protected].