VANCOUVER, Feb. 28 /CNW Telbec/ - Creston Moly Corp. ("Creston" or the
"Company") (TSX-V: CMS) is pleased to announce the appointment of Dr. Sadek E.
El-Alfy, Ph.D, D.I.C., B.Sc., ARSM as its Chief Operating Officer. Dr. El-Alfy
will be responsible for the ongoing development of the El Creston Molybdenum
Deposit as well as building an operations management team to direct the
development of El Creston.
Dr. El-Alfy has been serving as a member of Creston's advisory board
since May of 2007. Dr. El-Alfy was, most recently, Vice President of
Operations for Crystallex International Corporation for over 10 years. A
34 year mining veteran, Dr. El-Alfy has extensive experience in the design and
operation of both open pit and underground mining operations including holding
the position of General Manager, Mining and Concentrating at the Carol Lake
operation of the Iron Ore Company of Canada, in Labrador city, from 1990 until
1995, and Chief Mining Engineer with Giant Yellowknife Mines Limited in both
Yellowknife and Timmins from 1984 until 1990.
Dr. El-Alfy is a member of the Canadian Institute of Mining, Metallurgy
and Petroleum, the Institute of Materials, Minerals and Mining, London, United
Kingdom and the American Institute of Mining, Metallurgy and Petroleum
Engineers and was ex chairman of the Association of Professional Engineers of
Mr. Jonathan George, President of Creston stated, "Creston is delighted
to have been able to retain Dr. El-Alfy as Chief Operating Officer. The
experience of Dr. El-Alfy, his skills in bringing properties from the
exploration to the development and mining stage, and his extensive contacts in
the mining community will be invaluable as Creston moves forward with the fast
track development of the El Creston Molybdenum Deposit in Sonora, Mexico."
The Company has, subject to regulatory approval, granted to an officer
100,000 options exercisable at a price of $0.48 per share for a period of five
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 Creston Molybdenum Project contains the following mineral resources at a
0.035% Mo Cut-off grade:
Category Tonnes Mo% Cu% Mo lbs Cu lbs
-------- ------ --- --- ------ ------
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
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"
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
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, firstname.lastname@example.org; Jen Power,
email@example.com; Media - Adam Ross: firstname.lastname@example.org;
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com