Creston Moly Corp. - Drilling expands Main Zone at El Creston Molybdenum deposit, Sonora, Mexico



    VANCOUVER, July 8 /CNW Telbec/ - Creston Moly Corp. ("Creston" or the
"Company") (TSX-V: CMS) is pleased to announce the results of 12 holes from
the recently completed infill drill program on the Main Molybdenum Zone of its
100% owned Creston Molybdenum deposit located in Sonora State, Mexico. The
program consisted of 52 holes totaling 15,646 metres.
    Analytical results are tabulated below. Drill hole locations are shown in
the accompanying location map. The map is also available at
http://www.crestonmoly.com/i/maps/DrillPlanMap-July.pdf.

    
    -------------------------------------------------------------------------
                            Inc-
                            lina    Azi-
                            tion   muth                  Inter-
            North-  East-    (de-   (de-  From     To      val
    Hole      ing    ing   grees) grees)    (m)    (m)     (m)    Mo %  Cu %
    -------------------------------------------------------------------------
    EC08-
    030    306287  532922    -90             0    77.2    77.2  0.05  0.01(*)
    -------------------------------------------------------------------------
                                         80.08   203.6  123.52  0.04  0.41
    -------------------------------------------------------------------------
    EC08-
    031    Assays pending
    -------------------------------------------------------------------------
    EC08-
    032    306616  533098    -60   360     2.0   43.45   41.45  0.09  0.01(*)
    -------------------------------------------------------------------------
                                         43.45  295.35  251.90  0.12  0.04
    -------------------------------------------------------------------------
                                         341.1  362.31   21.21  0.05  0.02
    -------------------------------------------------------------------------
    EC08-
    033    306374  533067    -70   360    3.80   78.77   74.97  0.07  less
                                                                      than
                                                                      0.01(*)
    -------------------------------------------------------------------------
                                         78.77  375.95  297.18  0.11  0.07
    -------------------------------------------------------------------------
    EC08-
    034    306553  533126    -90          41.0  290.85  249.85  0.08  0.05
    -------------------------------------------------------------------------
    EC08-
    035    306545  533128    -60   180  101.85  178.65   76.80  0.08  0.04
    -------------------------------------------------------------------------
    EC08-
    036    306364  533061    -60   335     8.0   58.55   50.55  0.09  0.03(*)
    -------------------------------------------------------------------------
                                         58.55   180.1  121.55  0.10  0.10
    -------------------------------------------------------------------------
                                        232.15   301.4   69.25  0.10  0.05
    -------------------------------------------------------------------------
    EC08-
    037    306708  533278    -90         70.77  246.46  175.69  0.08  0.04
    -------------------------------------------------------------------------
    EC08-
    038    306241  533028    -90        122.55  215.75    93.2  0.03  0.30
    -------------------------------------------------------------------------
    EC08-
    039    306460  533377    -60   180     3.8   40.85   37.05  0.06  0.03(*)
    -------------------------------------------------------------------------
                                         40.85  332.42  291.57  0.09  0.05
    -------------------------------------------------------------------------
    EC08-
    040    306294  533077    -90         66.15  276.60  210.45  0.07  0.11
    -------------------------------------------------------------------------
    EC08-
    041    306512  533460    -60   180    97.6  307.12  209.52  0.16  0.02
    -------------------------------------------------------------------------
    EC08-
    042    306192  533077    -90        150.05   211.1   61.05  0.06  0.12
    -------------------------------------------------------------------------
    (*) oxide zone


    Significant copper intervals are reported in the following table:

    -------------------------------------------------------------------------
                            Inc-
                           lina     Azi-
                           tion    muth                  Inter-
            North-  East-   (de-    (de-   From     To     val
    Hole      ing    ing  grees)  grees)    (m)     (m)    (m)    Mo %  Cu %
    -------------------------------------------------------------------------
    EC08-
    030    306287  532922   -90          80.08  219.85  139.77  0.04  0.43
    -------------------------------------------------------------------------
    EC08-
    033    306374  533067   -70     360  78.77   168.3   89.53  0.15  0.15
    -------------------------------------------------------------------------
    EC08-
    038    306241  533028   -90           90.8   209.7   118.9  0.03  0.31
    -------------------------------------------------------------------------
    EC08-
    040    306294  533077   -90           97.5   201.6   104.1  0.07  0.15
    -------------------------------------------------------------------------
    EC08-
    042    306192  533077   -90          107.2   164.3    57.1  0.04  0.33
    -------------------------------------------------------------------------


    As shown in the drill plan map, the holes reported in this news release
were drilled in three sectors of the deposit:

    1) Northern sector (Holes EC08-032 and 037);
    2) Central sector (Holes EC08-033,034,035,036, 039 and 041); and
    3) Southwestern sector (Holes EC08-030, 038, 040, 042).

    In the northern sector, holes EC08-032 and EC08-037 encountered strong,
continuous and high grade mineralization in areas previously interpreted as
lying outside the northern boundary of the deposit. Hole EC08-037, drilled
vertically, penetrated a 175.69 m interval averaging 0.08% Mo. Hole EC08-032,
drilled at an angle of -60degrees on a northerly bearing, cut 251.9 m
averaging 0.12% Mo. Based on the results from these two holes, the Main Zone
deposit remains open to the north.
    Results from holes drilled within the central sector of the deposit
returned strong mineralization throughout, including intervals ranging from
0.08% Mo over 249.65 metres in hole EC08-034 to 297.18 m of 0.12% Mo in Hole
EC08-033. The easternmost drill hole reported in this news release,
(EC08-041), cut a continuous high grade interval averaging 0.16% Mo over a
core length of 209.52 m. This intersection confirmed the presence of a well
defined high grade zone, hosted by hydrothermal breccias, within the eastern
half of the Main Zone.
    Holes drilled in the southwestern sector encountered weak to moderate
grade molybdenum mineralization (0.03% Mo over 93.2 m in hole EC08-038 to
0.07% Mo over 210.45 m in hole EC08-040) and significant intervals of
predominantly chalcocite mineralization which include 139.77 m of 0.43% Cu in
hole EC08-030 and 118.9 m of 0.31% Cu in hole EC08-038.
    Mr. Jonathan George, President and CEO comments: "We are very pleased to
have defined a high grade zone in the eastern portion of the deposit as well
as an unexpected expansion of the deposit to the north. With these results we
look forward to the completion of a new independent resource estimate to be
undertaken during the summer."

    Sampling and QA/QC

    Drilling at El Creston is carried out by Layne Drilling employing two
wireline rigs that recover HQ core. Where necessary the core is reduced to NQ
size. The core is transported to a secure facility at the nearby Opodepe camp
where it undergoes geotechnical and geological logging. Prior to delivering
the core to ALS Chemex preparation lab in Hermosillo, the core is photographed
and all mineralized zones are photographed in detail. Blanks, standards, field
and coarse reject duplicates, and pulp duplicates are inserted in the stream
of samples prior to delivery to the preparation lab.
    Based on recommendations by Mine Development Associates ("MDA") of Reno
Nevada, the entire core is sent to the preparation lab in Hermosillo. MDA is
the independent consulting firm that has been retained to oversee QA/QC
procedures and to carry out the updated resource estimate of the El Creston
Main Zone following the completion of the ongoing drill program.
    The rationale for not sawing the core and retaining half of the sample is
based on two considerations: 1) portions of the molybdenite mineralization at
El Creston occur as loosely bound coarse flakes and clusters and 2) there is
evidence of a nugget effect in parts of the deposit. Thus, the sampling of the
entire core prevents or minimizes the loss of molybdenite due to core
handling, sawing, and washing. In addition, keeping the entire core maximizes
the sample volume, which should minimize any nugget effect and more accurately
represent the mean grade of the deposit.
    Sample preparation in Hermosillo consists of crushing the whole interval
to minimum of (greater than) 70% of the crushed sample passing a 2 mm screen
and then splitting the -2mm crushed sample to produce a representative split
of 1,000 grams. Each 1,000 gram sample is then pulverized to at least 85%
passing -75 microns.
    The pulps are then shipped to ALS-Chemex in North Vancouver to be analyzed
for total Mo% and Cu% using a four acid digestion and ICP-AES (Atomic Emission
Spectroscopy) finish. Samples from the oxide zone are sent to Skyline Labs in
Tucson to be analyzed for molybdenum oxide.
    The drill program at El Creston is being supervised by Fabrizio Colombo,
PhD, P. Geo.

    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.

    CRESTON MOLY CORP.

    "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; Eric St-Pierre:
estpierre@renmarkfinancial.com; Media: Adam Ross: aross@renmarkfinancial.com,
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com

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