Creston Moly Corp. - Options granted



    VANCOUVER, Jan. 22 /CNW Telbec/ - Creston Moly Corp. ("Creston" or the
"Company") (TSX-V: CMS) announces that it has, subject to regulatory and
shareholder approvals, adopted a "rolling incentive stock option plan." The
Company has granted to its directors, officers, employees and consultants a
total of 2,235,000 options exercisable at a price of $0.40 per share for a
period of five years.

    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
    --------       ------          ---        ---        ------     ------
                                                         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; Tina Cameron:
tcameron@renmarkfinancial.com; Media - Adam Ross: aross@renmarkfinancial.com;
(514) 939-3989, Fax: (514) 939-3717; www.renmarkfinancial.com

Organization Profile

CRESTON MOLY CORP.

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