PERTH, WESTERN AUSTRALIA--(Marketwire - Aug. 10, 2010) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5), the growing Australian gold miner and resources developer announced today the sale of its Mt Lucky manganese tenements in Laverton, Western Australia to the Murrin Murrin Joint Venture for A$3 million.

The sale comprises two mining leases and one exploration lease within Crescents current tenement package in the Laverton Gold Project that are deemed non-core by the Company's management and technical team.

Managing Director, Roland Hill, commented, "The sale of our non-core asset of manganese demonstrates managements pledge to obtain value for these assets. The Company will utilise the proceeds of this sale to reinvest into the continued development of our core gold assets. Crescent is maintaining gold rights on these tenements and is only selling the non-core asset. The Company will continue to strive to achieve value for all assets of the Company."

Regards

Crescent Gold Limited

Roland Hill, Managing Director

Additional information related to the Company is available for review at sedar.com or on the Company's website at www.crescentgold.com.

ABN 49 087 360 996