VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2008) - Creston Moly Corp. ("Creston" or the "Company") (TSX VENTURE:CMS) is pleased to announce it has completed an infill drill program on the Main Zone of its El Creston Molybdenum deposit, Sonora, Mexico.

The program consisted of 52 diamond drill holes totalling 15,646 metres, and was designed to upgrade inferred resources to the indicated category. The infill drill program originally contemplated a 40 hole program, but was augmented to investigate previously unidentified mineralized areas, especially along the northern and eastern sectors of the deposit.

Work by previous operators outlined an indicated resource of 92,873,000 tonnes grading 0.083% Mo containing 169.9 millions lbs. of molybdenum and an inferred resource of 84,221,000 tonnes grading 0.076% Mo containing 141.1 million lbs. of molybdenum (P&E Mining Consultants Inc., January 2008).

A new resource calculation will be undertaken by Mine Development Associates (MDA) of Reno, Nevada and it is expected to be completed by September 2008.

Drilling, utilizing one diamond drill rig, has now commenced on the Red Hill Zone located approximately 300 metres southwest of the Main Zone. The Red Hill Zone has been interpreted as a possible faulted extension of the Main Zone, and will be tested initially by 10 widely spaced diamond drill holes to an average depth of 200 metres.

The drill program at El Creston is being supervised by Fabrizio Colombo, PhD, P. Geo.

At the newly discovered Alejandra Zone, situated two kilometres northeast of the Main Zone, a program of detailed mapping and sampling is underway in preparation for future drill testing. Numerous molybdenum bearing outcrops have been discovered on the northeast flank of the Alejandra Zone.

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 El Creston Molybdenum Project contains the following mineral resources at a 0.035% Mo Cut-off grade: