Creston announces adoption of Shareholder Rights Plan



    VANCOUVER, March 12 /CNW Telbec/ - Creston Moly Corp. ("Creston" or the
"Company") (TSX-V: CMS) announces that its board of directors has adopted a
Shareholder Rights Plan (the "Rights Plan"). The objectives of the Rights Plan
are to ensure, to the extent possible, that all shareholders of the Company
are treated equally and fairly in connection with any take-over bid for the
Company. Take-over bids may not always result in shareholders receiving equal
or fair treatment or full value for their investment. In addition, current
securities legislation only requires a take-over bid to remain open for
35 days. The Board believes that this period may be insufficient for the
shareholders to evaluate a bid, or for the Board to pursue alternatives which
could maximize shareholder value and make informed recommendations to
shareholders. The Rights Plan was not adopted in response to, or in
anticipation of, any acquisition or takeover offer. The Company is not aware
of any pending or threatened takeover bid.
    In order to implement the Rights Plan, the board of directors has
authorized the issuance of the rights to holders of its common shares at the
rate of one right for each common share outstanding. For administrative
convenience, the rights will automatically attach to the common shares without
further action by the shareholders, and will be represented by certificates
representing the common shares. On the occurrence of certain triggering
events, which includes the acquisition by a person or a group of 20% or more
of the votes attached to all outstanding voting shares of the Company in a
transaction not approved by the board of directors, the rights will entitle to
holders (other than the acquiring person or group) to acquire common shares of
the Company at a 50% discount to the market price. The rights are not
triggered by purchases of voting shares made pursuant to a "permitted bid",
which is a takeover bid made by way of a formal takeover bid circular to all
holders of common shares on identical terms, which is open for at least
60 days and is for a minimum of at least 50% of the outstanding voting shares
held by independent shareholders, and which permits shareholders who tender
their shares to subsequently withdraw them before the closing date of the bid.
    The Rights Plan is subject to acceptance by the TSX Venture Exchange and
ratification by the Company's shareholders. The Rights Plan will be submitted
to the shareholders for ratification at the Company's upcoming annual general
meeting, scheduled for April 10, 2008.

    About Creston Moly Corp.

    Creston Moly Corp. is a Canadian mineral exploration company focused on
the development of the El Creston Molybdenum deposit located 135 kilometres
north-east of Hermosillo, Sonora State, Mexico, near the village of Opodepe.
The El Creston Molybdenum Project contains the following mineral resources at
a 0.035% Mo Cut-off grade:

    
    Category         Tonnes       Mo%       Cu%        Mo lbs         Cu lbs
    --------         ------       ---       ---        ------         ------
                                                     millions       millions
                                                     --------       --------
    Indicated    92,873,000     0.083     0.060         169.9          122.8
    Inferred     84,221,000     0.076     0.050         141.1           92.8

    1. Mineral resources which are not mineral reserves do not have
       demonstrated economic viability. The estimates of mineral resources
       may be materially affected by environmental, permitting, legal, title,
       taxation, sociopolitical, marketing or other relevant issues.
    2. The quantity and grade of reported inferred resources in this
       estimation are conceptual in nature and there has been insufficient
       exploration to define these inferred resources as an indicated or
       measured mineral resource and it is uncertain if further exploration
       will result in upgrading them to an indicated or measured mineral
       resource category.
    3. The mineral resources referred to herein have been estimated in an
       NI 43-101 technical report (the "P & E Report") prepared for the
       Company in January 2008 by independent qualified persons Eugene
       Puritch, P. Eng. and Dr. Wayne Ewert, P. Geo. of P&E Mining
       Consultants Inc. The P & E Report is available at www.sedar.com.
    

    Luca Riccio, PhD, P. Geo, a Qualified Person as defined by National
Instrument 43-101, is responsible for the technical information contained in
this News Release.

    On behalf of the Board

    (Signed) "Jonathan W. George"
    President

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy and accuracy of this release.

    Forward Looking Statements: The above contains forward looking statements
that are subject to a number of known and unknown risks, uncertainties and
other factors that may cause actual results to differ materially from those
anticipated in our forward looking statements. Factors that could cause such
differences include: changes in world commodity markets, equity markets, costs
and supply of materials relevant to the mining industry, change in government,
and changes to regulations affecting the mining industry. Forward-looking
statements in this release include statements regarding future exploration
programs, operation plans, geological interpretations, mineral tenure issues,
and mineral recovery processes. Although we believe the expectations reflected
in our forward looking statements are reasonable, results may vary, and we
cannot guarantee future results, levels of activity, performance, or
achievements.




For further information:

For further information: Mr. Jonathan George, (604) 694-0005, (604)
684-9365 (FAX), www.crestonmoly.com; Renmark Financial Communications Inc.:
Christine Stewart, cstewart@renmarkfinancial.com; Jen Power,
jpower@renmarkfinancial.com; Media: Adam Ross, aross@renmarkfinancial.com,
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com

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CRESTON MOLY CORP.

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