CRES to Sell Shares of Exploits Gold Corp. to Origen Resources Inc.

CREST RESOURCES INC.

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NEWS RELEASE

CREST RESOURCES TO SELL SHARES OF EXPLOITS GOLD CORP. TO ORIGEN RESOURCES INC.

Vancouver, B.C. – September 1, 2020 - Crest Resources Inc. (“Crest” or the “Company”) (CSE: CRES) announces that the Company proposes to sell 3,000,000 common shares of its investment in Exploits Gold Corp. (“Exploits”, a private company with mineral properties in Newfoundland) to Origen Resources Inc. (“Origen”) for 4,620,000 common shares of Origen. The Company also proposes to sell a further 1,000,000 common shares of Exploits to a non-arm’s length party.

Origen is a British Columbia junior exploration company listed on the Canadian Securities Exchange (the “CSE”) engaged in generating, acquiring and advancing base and precious metal properties. Origen currently holds a property portfolio of four 100% owned precious and base metal projects in southern British Columbia and recently acquired a 100% interest in the 26,771 ha LGM project and an option to acquire a 100% interest in the 3,971 ha Wishbone property in the mineral rich Golden Triangle of British Columbia.

The Transaction

The transaction with Origen is valued at $924,000 based on the closing market price of Origen’s shares on the CSE of $0.20 on August 31, 2020. The transaction is considered to be a non-arm’s length transaction because Michael Collins (“Collins”), the President, Chief Executive Officer and a director of Crest, is also a director of Origen. Following completion of the transaction, the Company will own and control 4,620,000 common shares of Origen representing 17.41% of the then issued and outstanding common shares based on an estimated total of 26,530,825 common shares outstanding. The Company together with its joint actors will own and control 5,220,000 common shares representing approximately 19.68% of the proforma issued and outstanding common shares of Origen.

The Company further proposes to sell 1,000,000 common shares of Exploits to a private company of which Collins is a director for consideration of a note payable of $350,000 that is payable on demand and accrues interest at a rate of 6% per annum. The shares are pledged as collateral for the promissory note.

About Crest Resources Inc.

Crest Resources Inc. is a British Columbia company listed on the Canadian Securities Exchange under the symbol “CRES”. The Company’s principal business activity is the acquisition, exploration and evaluation of mineral property assets in Canada, Australia and Peru and the investment in mineral exploration companies and related mining technologies of merit. Crest is committed to creating significant shareholder value through advancing a high-quality blended portfolio of resource development and discrete technology plays that build on corporate knowledge and relationships and drive value outside of the mining cycle, as well as direct investment in undervalued exploration plays at an early stage.

FOR FURTHER INFORMATION CONTACT:

Michael Collins President and CEO Crest Resources Inc.

Telephone: 604-681-3170

Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

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