Creston Moly Corp.: Independent Engineering Firm to Provide Feasibility Study on El Creston Molybdenum Deposit, Mexico

Creston Moly Corp. ("Creston" or the "Company") (TSX VENTURE:CMS) is pleased to
announce that it has engaged Aker Solutions for the provision of a feasibility
study on its El Creston molybdenum deposit, located in the state of Sonora,
Mexico.


The feasibility study will be focused on the economic viability of developing
the El Creston Project as outlined in the recently released preliminary economic
assessment dated December 16, 2010 entitled "Preliminary Economic Assessment, El
Creston Project, Opodepe, Sonora, Mexico", which was filed on SEDAR on December
21, 2010 and is available on SEDAR at under Creston's profile (the "PEA"). 


The PEA does not contain mineral reserves and the Company will not be relying on
the mineral reserves from its pre-feasibility study dated March 23, 2009 in
respect of the development plan on which the feasibility study will be focused.
The Company therefore expects that initial mineral reserves for the development
plan as envisioned in the PEA will be established upon completion of the
feasibility study.


The Company anticipates that the feasibility study will result in a National
Instrument 43-101 compliant technical report and reserve estimate, after taking
account of all relevant processing, metallurgical, economic, marketing, legal,
environment, socio-economic and government factors. 


Aker Metals, a division of Aker Solutions Canada Inc. through "Aker Solutions",
is a leading global provider of engineering and construction services,
technology products and integrated solutions. Aker Solution's business serves
several industries, including oil & gas, refining & chemicals, mining & metals
and power generation.


Aker Solutions is an experienced feasibility provider and has completed
feasibility studies for major projects including the Collahuasi Copper Project,
Peru Copper's Toromocho Project, Continental Minerals' Xietongmen Copper
Project, Mongolyn Alt Corporation's Tsagaan-Suvarga Copper Moly Project and
Minera Lumina's Caserones Project. 


On Behalf of the Board of Directors

CRESTON MOLY CORP.

D. Bruce McLeod, President & CEO

Forward-Looking Statements

This document may contain "forward-looking statements" within the meaning of
Canadian securities legislation and the United States Private Securities
Litigation Reform Act of 1995. These forward-looking statements are made as of
the date of this document and Creston does not intend, and does not assume any
obligation, to update these forward-looking statements.


Forward-looking statements relate to future events or future performance and
reflect Creston management's expectations or beliefs regarding future events and
include, but are not limited to, statements with respect to the estimation of
mineral reserves and resources, the realization of mineral reserve estimates,
the timing and amount of estimated future production, costs of production,
capital expenditures, success of mining operations, environmental risks,
unanticipated reclamation expenses, title disputes or claims and limitations on
insurance coverage. In certain cases, forward-looking statements can be
identified by the use of words such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved" or the
negative of these terms or comparable terminology. By their very nature
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
Creston to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. Such
factors include, among others, risks related to actual results of current
exploration activities; changes in project parameters as plans continue to be
refined; future prices of resources; possible variations in ore reserves, grade
or recovery rates; accidents, labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals or financing or in the
completion of development or construction activities; as well as those factors
detailed from time to time in Creston's interim and annual financial statements
and management's discussion and analysis of those statements, all of which are
filed and available for review on SEDAR at www.sedar.com. Although Creston has
attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or results not
to be as anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.


Accordingly, readers should not place undue reliance on forward-looking statements.