Creso Exploration Closes $500,000 Private Placement Financing

Creso Exploration Inc. ("Creso" or the "Corporation") (TSX VENTURE:CXT)
(OTCQX:CRXEF) (FRANKFURT:C3X) is pleased to announce that it has completed the
closing of a non-brokered private placement for total consideration of $500,000
consisting of the issuance of 10,000,000 units (each a "Unit"). A Unit consists
of one common share (a "Common Share") issued on a flow-through basis and
one-half of a Common Share warrant (each whole warrant, a "Warrant"), with each
Warrant entitling its holder to purchase a Common Share at $0.10 over a two-year
period. All securities issued pursuant to the private placements have a hold
period of four months from the date of closing. 


Following its participation in this private placement, an investor, now owns
approximately 11% of the Corporation and becomes an insider of the Corporation.


The proceeds of the financing will be used to finance exploration work on
Creso's Shining Tree properties which will constitute Canadian exploration
expenses ("CEE") as defined in the Income Tax Act. 


The Units have not been and will not be registered under the U.S. Securities Act
of 1933, as amended (the "1933 Act"), or under any state securities laws, and
may not be offered or sold, directly or indirectly, or delivered within the
United States or to, or for the account or benefit of, U.S. persons (as defined
in Regulation S under the 1933 Act) absent registration or an applicable
exemption from the registration requirements. This news release does not
constitute an offer to sell or a solicitation to buy such securities in the
United States.


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.