Creso Exploration Inc Announces Non-Brokered Private Placement

Creso Exploration Inc announced that its Board of directors has approved a non-brokered private placement of 4,000,000 "flow-through" units (each, a "FT Unit") and 9,000,000 units (each, a "Unit"), both FT Unit and Unit to be issued at a price of $0.05 for aggregate gross proceeds of $650,000 (the "Private Placement"). Each FT Unit shall be comprised of one common share of the Corporation issued on a flow-through basis and one-half of a common share purchase warrant of the Corporation (each whole common share purchase warrant, a "Warrant"). Each Unit shall be comprised of one common share of the Corporation (a "Unit Share") and one Warrant. Each Warrant will entitle its holder to subscribe for one additional common share at an exercise price of $0.10 per share during a 24-month period following closing of the Private Placement. The net proceeds of the proposed Private Placement will be used to finance the exploration program of the Corporation and its working capital. All securities issued pursuant to the Private Placement will have a four-month hold period. Insiders of the Corporation are expected to participate in the Private Placement.