Creso Exploration Announces Non-Brokered Private Placement

Creso Exploration Inc. ("Creso" or the "Corporation") (TSX
VENTURE:CXT)(FRANKFURT:C3X) announces 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. 


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.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pierre R. Gauthier
Chairman and President
[phone] # 237
[phone] (FAX)
[e-mail]
www.creso.ca


Douglas Murray
Investor Relations
[phone] / [phone]
[e-mail]