VANCOUVER, March 18 /CNW Telbec/ - Creston Moly Corp. ("Creston" or the
"Company") (TSX-V: CMS) is pleased to announce that it has entered into a
contract with M3 Engineering & Technology Corporation ("M3") for the provision
of a bankable feasibility study on its El Creston Molybdenum Deposit in
The study will be conducted in three phases consisting of scoping,
pre-feasibility engineering and feasibility engineering.
M3 has offices in Tucson Arizona, Chandler Arizona and most importantly
for Creston, in Hermosillo, Mexico, where their associates have an intimate
knowledge of all aspects of the Mexican Mine permitting process.
M3 is a full-service international engineering firm providing
engineering, procurement and construction management services to the minerals
Founded in 1986 and with a current staff of over 400 employees, M3 has
engineered and managed over $2.0 billion in mining projects, and notably, has
won numerous recognitions including the prestigious 2005 AISC Engineering
Award for Excellence and the American Mining Hall of Fame's 2007 Mining
Foundation of the Southwest Industry Partnership Award.
Jonathan George, President of Creston states that "we are very fortunate
to have secured this contract with such an outstanding firm as M3. Their
extensive knowledge of the requirements necessary for putting projects into
production in Mexico will greatly help to accelerate the development of the
Creston is presently conducting an in-fill diamond drill program,
consisting of approximately 50 holes, in order to upgrade inferred resources
to the indicated category. This program should be completed by May 2008. Mine
Development Associates (MDA) of Reno, Nevada has been engaged to undertake a
new resource estimate, which is projected to be available in August 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 Creston Molybdenum Project contains the following mineral resources at a
0.035% Mo Cut-off grade:
Mo lbs Cu lbs
Category Tonnes Mo% Cu% 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
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