VANCOUVER, Jan. 22 /CNW Telbec/ - Creston Moly Corp. ("Creston" or the "Company") (TSX-V: CMS) announces that it has, subject to regulatory and shareholder approvals, adopted a "rolling incentive stock option plan." The Company has granted to its directors, officers, employees and consultants a total of 2,235,000 options exercisable at a price of $0.40 per share for a period of five years.

About Creston Moly Corp.

Creston Moly Corp. is a Canadian mineral exploration company focused on the development of the El Creston Molybdenum deposit located 135 kilometres north-east of Hermosillo, Sonora State, Mexico, near the village of Opodepe. The Creston Molybdenum Project contains the following mineral resources at a 0.035% Mo Cut-off grade:

Luca Riccio, PhD, P. Geo, a Qualified Person as defined by National Instrument 43-101, is responsible for the technical information contained in this News Release.

On behalf of the Board

(Signed) "Jonathan W. George"

President

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy and accuracy of this release.

Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government, and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues, and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance, or achievements.

For further information: Mr. Jonathan George, (604) 694-0005, (604) 684-9365 (FAX), www.crestonmoly.com; Renmark Financial Communications Inc.: Christine Stewart: cstewart@renmarkfinancial.com; Tina Cameron: tcameron@renmarkfinancial.com; Media - Adam Ross: aross@renmarkfinancial.com; (514) 939-3989, Fax: (514) 939-3717; www.renmarkfinancial.com