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Gold Crest Mines, Inc. Reports on Kelly Creek Project Exploration Results

Posted on: Friday, 19 October 2007, 12:00 CDT

SPOKANE, Wash., Oct. 19 /PRNewswire-FirstCall/ -- Gold Crest Mines, Inc. (BULLETIN BOARD: GCMN) is pleased to announce exploration results from the company's 2007 field work on its Kelly Creek Project on the Seward Peninsula in northwest Alaska. This work was completed by GCMN's wholly owned Alaskan subsidiary, Kisa Gold Mining, Inc. ("KGMI").

The Kelly Creek project is located approximately 40 miles northwest of Quartz Creek, the northern terminus of the Nome-Taylor Highway, and 90 miles northwest of Nome. The project consists of 165 mining claims on state land, covering approximately 26,160 acres. The claims are held under an exploration lease and option to purchase agreement with Greatland Exploration, Ltd., a private Alaskan Corporation. This season KGMI staff and consultants completed a systematic, district-scale mapping and sampling program. The 2007 program included collection of over 330 rock, soil, and stream sediment. This work expanded two known prospects and discovered three new prospect areas.

The KC Prospect, was a 2000-foot long by 300-foot wide gold-arsenic-antimony-mercury soil anomaly originally discovered in 1982 by Anaconda Minerals. Anaconda conducted fieldwork that culminated in completion of four, small diameter, core holes totaling 608 feet. The drill holes cut significant thicknesses of anomalous to potentially ore-grade gold mineralization hosted in quartz-carbonate-clay altered, stockworked and brecciated carbonaceous schists and carbonates. The results of this season's work on the KC Prospect are highly encouraging. The original 2000-foot long by 300-foot wide soil anomaly, has been increased in length by more than 60%, now measures over 3300 feet in length, and remains open along strike.

The Ox prospect is located approximately 1200 feet southwest of the KC Prospect and was originally discovered during Anaconda soil sampling. Prior to the 2007 program, the prospect consisted of a 500-foot wide by 600-foot long gold-arsenic-antimony-mercury soil anomaly. Work in 2007 indicates that gold mineralization is localized in carbonaceous schists along a reverse fault contact with overlying marble. Quartz vein stockworks, brecciation and resilicification are locally observed in surface float of the lower plate schist and 2007 sampling expanded the soil anomaly considerably. The open ended soil anomaly, defined by soils with values ranging from 50 ppb to 300 ppb gold now measures 750 feet wide by 2900 feet long.

The newly discovered Wolverine Prospect, located approximately 3.5 miles northeast of the KC Prospect, is a 500-foot wide by 1500-foot long soil gold anomaly along a high-angle structural zone that juxtaposes carbonaceous schist against a marble and schist-bearing sequence. The soil anomaly is open in three directions and is defined by values ranging from 15 ppb gold to as high as 1146 ppb gold.

At the Fox and Bear prospects, located several miles from the KC Prospect, mapping and results from reconnaissance soil lines have outlined several other gold-bearing areas along favorable stratigraphic and structural corridors.

Company management believe the style of mineralization, alteration, and startigraphic and structural relations associated with the previously drilled mineralization and the widespread and large surface soil anomalies identified to date are highly promising and indicate the discovery of a district-scale gold play. Planning for a drilling program to test the multiple targets identified during this year's program is underway.

Gold Crest Mines, Inc. is a junior gold exploration company with properties in Alaska and Idaho, and is a reporting company under the Securities and Exchange Act of 1934. GCMN trades on the NASDAQ Electronic Bulletin Board (OTCBB) with symbol GCMN.OB.

For additional information, please contact: Tom Parker Chris Dail President and CEO Vice President, Exploration Tel. 509-893-0171 Tel. 509-893-0171

'Safe Harbor' Statement under Private Securities Litigation Reform Act of 1995:

Certain statements contained herein constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Information contained herein contains 'forward-looking statements' which can be identified by the use of forward-looking terminology such as 'believe', 'expect', 'may', 'should', 'up to', 'approximately', 'likely', or 'anticipates' or the negative thereof or given that the future results covered by such forward looking statements will be achieved. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only for the date the statement was made. Investors should carefully consider the preceding information as well as information contained in any news release before making any investment in the shares of the company. Gold Crest Mines, Inc. undertakes no obligation to update any forward-looking statements.

Gold Crest Mines, Inc.

CONTACT: Tom Parker, President and CEO, +1-509-893-0171, or Chris Dail,Vice President, Exploration, +1-509-893-0171, both of Gold Crest Mines, Inc.

Source: PRNewswire-FirstCall

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