Creso Announces Acquisition of Additional Milner Township Properties and Results of Mann Diamond Drill and Surface Sampling P...

Creso Exploration Inc. ("Creso" or the "Company") (TSX
VENTURE:CXT)(OTCQX:CRXEF)(FRANKFURT:C3X) is pleased to announce the acquisition
of an option to purchase (the "Purchase Option Agreement") a 90% interest in the
Milner property located in Milner Township, Ontario. The new property, totalling
11 claim units, adjoins to the north and south of the Mann Project. A feature of
the property is the sites of 9 historic shafts, including the former past
producer Bartlett Mine (#1 Shaft). The results of the recently completed diamond
drill program on the Mann 'D Zone' have now been tabulated, including DDH
MN11-04, MN11-05, and the extension to DDH MN11-03. (see Press Releases dated
September 1, November 4, December 1 and December 14, 2011). A highlight from the
diamond drill program is the interval 400 g/t Ag over 1.0m at 35.4 to 36.4m from
Hole MN11-04. Hole MN11-04 is located 27m west of Hole MN11-03, where a
previously reported interval gave 5130 g/t Ag over 0.65m from 39.8 to 40.45m.
Hole MN11-03 was designed to test the near-surface vein cluster in which
historic hole 67-60 had reported 520 oz/ton over 2.9ft (17,828.7g/t over 0.88m).


Highlights from the results are the above mentioned interval from Hole MN11-04
and 39 g/t over 1.5m at 39.5 to 41.0m from Hole MN 11-05. Hole MN11-04 was
designed to intercept the historically reported high grade material close to the
floor at the western end of the historic drift, but a short void was
encountered, hitting the previous mined area. Hole MN11-05 was designed as a 25m
step-out from the western end of the historic drift, to check if vein extensions
continued on strike from the known 'D Zone' vein intercepts. Hole MN11-03 was
re-entered and extended from 50.0m to 209m to check if a significant
intersection would be encountered below the level of the historic drift, however
no significant intercepts were found. Two mineralized structures have become
apparent from the drill program. East-west trending mineralized structures seen
in Holes MN11-01 and MN11-03 coincide with calcite veining with widths varying
up to 5 cm. A north-south trending structure was also identified in MN11-01,
MN11-02 and MN11-03, characterized by mineralized calcite veins in widths of
1.4m, 0.6m and 0.9m, respectively.


Analytical results from the surface sampling program conducted at the Mann
property in November 2011 from channel samples taken from a mechanically
stripped and washed area including the 'D Zone', have been tabulated. The
results from Channels #2 and #6 showed the presence of the 'D Zone' vein cluster
at surface, where four interval lengths in Channel #2 showed silver enrichment.
The highest single interval value was 36 g/t Ag over 1.06m. The channel samples
were analyzed using the fire assay-Ag ore grade, gravimetric finish technique by
AGAT Laboratories, Mississauga, ON.


A geophysical survey program utilizing the Induced Polarization technique has
commenced in an area designed to test the vein systems in the Mann Area, which
encompasses the former workings of the Mann Mine site. Approximately 9,075m of
east-west linecut spaced at 50m intervals covering an area of approximately
32.5ha. was prepared in December, 2011, and an induced polarization/resistivity
survey conducted by Insight Geophysics Inc. of Oakville, Ontario has commenced
in January, 2012. It is intended to combine results from this survey with data
obtained from the Mann diamond drilling program to design additional target
areas for exploration. 


The Purchase Option Agreement provides for the payment by the Corporation of
$45,000 cash and the issuance of 450,000 common shares of the Corporation on
approval of the transaction by the TSX Venture Exchange and a further payment of
$45,000 cash and issuance of an additional 450,000 common shares six months
after the first payment. The closing of the transaction to acquire the Milner
Property is subject to regulatory approval.


Creso is also pleased to confirm that it exercised its option and purchased a
100% interest in the Mann silver mine located in the Milner Township as well
(See press release of September 1, 2011).


This Press Release has been reviewed and approved by Mr. Mike White, M.Sc.,
P.Geo., the Qualified Person under National Instrument 43-101.


Creso Exploration QA/QC procedures follow standard industry practices. Sealed
core boxes are transported twice daily from the drill rig to the core logging
facility by qualified drill contractor personnel. Core is logged and prepared
for sampling in a secure building. Sample intervals are selected according to
geologic contacts, visible mineralization, and alteration. Drill core is cut
along a center line using a typical circular rock saw designed for core cutting.
Sampled core is placed into sample bags, sealed and shipped to an assay lab that
follows the ISO 9000 series of Quality Management standards. All samples were
analyzed for silver, gold and other trace elements at ALS Group Ltd.
laboratories by standard industry procedures. These procedures include silver
and gold by fire assay-AAS finish, with follow-up silver and gold analyses by
fire assay-gravimetric finish and/or metallic screen. Multi-element analysis is
done by ICP (ME-ACD81) using a four-acid digestion. Whole rock analysis is done
by ICP-AES (ME-ICP06) using a lithium metaborate fusion.


Blank and certified standard samples are routinely submitted with all sample
batches sent to the lab for assay. In addition, replicates, duplicates, and
field duplicates are routinely included in sample batches. Samples with visible
gold are analyzed with procedures designed to reduce the variability of the
sample results. And finally, samples are routinely sent to other labs for
additional checks.


About Creso

The Corporation's principal mining exploration holdings are located in the
Shining Tree mining camp of Northern Ontario within 100 km of the Timmins and
Kirkland Lake mining camps, and additional interests are held in base metal
properties in Guatemala.


FORWARD LOOKING STATEMENTS: This press release contains forward-looking
statements that address future events and conditions, which are subject to
various risks and uncertainties. Actual results could differ materially from
those anticipated in such forward- looking statements as a result of numerous
factors, some of which may be beyond the Corporation's control. These factors
include: results of exploration activities, general market and industry
conditions, and other risks disclosed in the Corporation's filings with Canadian
Securities Regulators.


Forward-looking statements are based on the expectations and opinions of the
Corporation's management on the date the statements are made. The assumptions
used in the preparation of such statements, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements. The Corporation expressly
disclaims any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or otherwise,
except as required by applicable law. Depending on exploration results and
available financing, the Corporation may at any point modify its work program.