Independent Proxy Firms Recommend Creston Shareholders Vote for Merger with Mercator Minerals Ltd.

Creston Moly Corp. ("Creston" or the Company") (TSX VENTURE:CMS) announced today
that ISS Proxy Advisory Services ("IIS") and Glass, Lewis & Co., LLC ("Glass
Lewis"), the two leading independent proxy research and advisory firms, have
published reports recommending that Creston shareholders ("Shareholders") vote
FOR the proposed arrangement agreement to which Mercator Minerals Ltd.
("Mercator") will acquire all issued and outstanding common shares of Creston by
way of a plan of arrangement (the "Arrangement"). 


The Board of Directors of Creston, after receiving the recommendation of its
special committee and consultation with its financial and legal advisors, has
unanimously determined that the proposed transaction is in the best interests of
Creston, is fair to the shareholders of Creston, and to recommend that
shareholders of Creston vote in favour of the proposed transaction. BMO Capital
Markets, financial advisor to Creston and its Board of Directors, has provided
an opinion to the effect that the consideration to be received by shareholders
of Creston is fair, from a financial point of view, to shareholders of Creston. 


Shareholders are encouraged to review the Management Information Circular dated
May 9, 2011, which provides a detailed discussion of the Arrangement and reasons
behind the Board of Directors ' unanimous recommendation that shareholders vote
FOR the Arrangement. If approved by Shareholders the proposed transaction is
expected to become effective on or about June 22, 2011.


Creston has scheduled a special meeting of shareholders (the "Meeting") to vote
on the arrangement agreement to be held at 10:00 am on June 14, 2011, at the
XChange Conference Centre, 2nd Floor, 888 Dunsmuir Street, Vancouver, British
Columbia, Canada. Shareholders may attend the Meeting in person or may be
represented by proxy. Shareholders who are unable to attend the Meeting or any
adjournment thereof in person are requested to date, sign and return their proxy
for use at the Meeting or any adjournment thereof. To be effective the proxy
must be received by Computershare Investor Services Inc. (by mail, fax,
telephone or internet according to the instructions on the proxy) by 10:00 a.m.
PDT on June 10, 2011.


If Shareholders have any questions about the information contained in the
Management Information Circular or require assistance in completing their proxy
forms on-line, please contact Creston's proxy solicitation agent Phoenix
Advisory Partners toll free at 1-866-793-5464 or by e-mail at
[e-mail].


How to Vote On-Line

In light of the potential for a Canadian postal strike, shareholders are
strongly encouraged to vote on-line at www.investorvote.com. The deadline for
submitting proxy forms is 10:00 p.m. PDT on June 10, 2011. 


About ISS

ISS is Canada's leading independent proxy advisory firm and the leading
authority on proxy voting and corporate governance issues in Canada with over
1,700 clients. ISS has been providing advisory and voting services to leading
pension funds, investment managers, mutual funds and other institutional
shareholders since 1987.


About Glass, Lewis & Co., LLC

Founded in 2003, Glass, Lewis & Co., LLC is a leading independent governance
analysis and proxy voting firm, serving several hundred institutional investors
that collectively manage more than $17 trillion in assets.


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.