Cyclone-related Rains

Feb. 17, 2011 (Marketwire) --

PERTH, WESTERN AUSTRALIA -- (Marketwire) -- 02/17/11 -- Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5) advises that as a safety precaution, it has temporarily suspended operations at the Company's wholly-owned Laverton Gold Project in Western Australia due to the arrival of unseasonal heavy rains throughout the Goldfields region associated with Cyclone Dianne off the northwest coast of Western Australia.

The heavy rains and localised flooding are impacting numerous mining company operations in the region.

Crescent has placed priority on the safety of all staff and contractors based in Laverton and has evacuated the main camp to the community hall in Laverton and suspended all mining and haulage operations until further notice.

Measures are in place to ensure that mining and haulage operations recommence as soon as management is satisfied that it is safe to do so.

Additional information related to the Company is available for review at SEDAR or on the Company's website at www.crescentgold.com.

ASX Code:           CRE       
TSX Code:           CRA       
FFT Code:           CRE5      
                              
SHARE INFORMATION             
                              
ASX Share Price:    A$0.10    
                              
Issued Shares:      1,077.9m  
                              
Market Cap:         A$107.8m  
                              
Unlisted options:   33.2m     
                              
CONTACT DETAILS                                                             
Level 2,                                                                    
40-48 Subiaco Square                                                        
Subiaco WA 6008                                                             
Phone: +61 8 6380 7100                                                      
Fax: +61 8 6380 7199                                                        
info@crescentgold.comwww.crescentgold.com                                                        
                                                                            
ABN 49 087 360 996                                                          

Contacts:
In Australia:
Crescent Gold Limited
Mark Tory
Interim Managing Director
+61 8 6380 7100

In Canada:
Crescent Gold Limited
Renee Brickner
+1 604 802 6806
www.crescentgold.com