Initial infill drillling at El Creston encounters thick, high grade intervals of molybdenite mineralization, including 245.3 metres of 0.14% Mo in hole EC07-007



    VANCOUVER, B.C., Jan. 14 /CNW Telbec/ - Creston Moly Corp. ("Creston" or
the "Company") (TSX-V: CMS) is pleased to announce that 16 vertical holes
totalling 4,251 metres have been completed at the El Creston Molybdenum
Project, Sonora, Mexico. All sixteen holes have been sampled and sent to
ALS-Chemex's preparation lab in Hermosillo, Mexico. Analytical results for six
of the sixteen holes have been received from ALS-Chemex's North Vancouver Lab.
All drilling is taking place within and peripheral to the Main Molybdenum Zone
of the El Creston Deposit.
    The objective of the ongoing infill drill program is to upgrade the
existing inferred resources to the indicated category and to delineate the
boundaries of the Main Molybdenum Zone deposit.
    The sixteen holes completed to date have been drilled within the eastern
half of the deposit as shown in the accompanying location map. The map is also
available at http://www.crestonmoly.com/i/maps/Creston_drillholes.gif. Assay
results for total molybdenum and copper have been received for hole 1 and for
holes 3 to 7. The results from holes drilled within the Main Molybdenum Zone
are tabulated below:

    
    -------------------------------------------------------------------------
    Hole   Northing  Easting    Hole   From       To   Inter-    Mo    Oxide
                               Depth     (m)      (m)    val      %     Zone
                                  (m)                     (m)        From (m)
                                                                        To(m)
    -------------------------------------------------------------------------
    EC07-003   6386     3686   232.4      0    164.3   164.3   0.12     0-10
    -------------------------------------------------------------------------
    EC07-005   6195     3466  160.05  38.15     79.2   41.05   0.06     0-24
    -------------------------------------------------------------------------
    EC07-006   6243     3516     240  160.1   193.47   33.37   0.15     0-30
    -------------------------------------------------------------------------
    EC07-007   6355     3539   299.9    1.1   246.39  245.29   0.14     0-29
    -------------------------------------------------------------------------
                            includes   11.5    110.7    99.2   0.23
    -------------------------------------------------------------------------


    Holes 1 and 4 were drilled immediately south of the Main Molybdenum Zone,
in order to define the southern boundary of the deposit. These two holes are
weakly mineralized. Hole 5 encountered 41.05 metres of 0.06% Mo along the
southern margin of the deposit. Holes 3, 6 and 7 all intersected strong
mineralization over significant widths. In particular hole 7 penetrated
245.29 metres averaging 0.14% Mo and included a 99.2 metre interval which
assayed 0.23% Mo. In both holes 3 and 7, strong molybdenum mineralization
starts at or near surface. All six holes contain very low copper
concentrations (0.01 to 0.04%).
    The table above also shows the depth of the oxide zone. Samples from the
oxide zone will be sent to Skyline Labs in Tucson to be analyzed for
molybdenum oxide. This will determine the relative amounts of molybdenum oxide
and molybdenum sulphide present within the oxide zone. It should be pointed
out that molybdenum oxide is not recoverable by conventional flotation
methods.
    Mr. Jon George comments "This is the first batch of assays received from
holes drilled within the Main Molybdenum Zone and we are very pleased with the
results. These assay results not only validate previous drill results from
Amax, but also suggest that the sampling and preparation techniques
implemented by Creston Moly may help in better defining the true grade of the
deposit".
    The infill drill program has resumed utilizing two diamond drill rigs.

    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 reduce 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 will be sent to Skyline Labs
in Tucson to be analyzed for MO3 and copper oxide.
    The drill program at El Creston is being supervised by Fabrizio Colombo,
PhD, P. Geo.  Mr. David Fitch, an MDA representative spent a total of 20 days
on the property in mid October, late November - early December and was in
charge of the chain of custody of a number of samples delivered to the
preparation Lab.

    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); Website: 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

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