LEFA Gold Mine Mineral Reserve Update January 25, 2010

(Thomson Reuters ONE) - LONDON, United Kingdom: Crew Gold Corporation ("Crew" or "the Company") (TSX,OSE: CRU) today announces:-This release updates the previously reported mineral reserves of the LEFA Minein Guinea, West Africa.The following table presents the estimated mineral reserves on the LEFAConcession as at 31 August 2009.+------------------+----------------+---------------+----------------+|Deposit | Proven | Probable | Total || | | | ||   | kt g/t k oz | kt g/t k oz| kt g/t k oz |+------------------+----------------+---------------+----------------+|LEFA Corridor | | | || | | | ||Lero-Karta |17,697 1.7 941 |8,092 1.7 453 |25,789 1.7 1,394|| | | | ||Fayalala |21,822 1.2 844 | 566 1.2 21 |22,388 1.2 865 || | | | ||Kankarta |1,911 1.7 106 | 544 1.6 28 |2,455 1.7 134 || | | | ||Firifirini | |4,041 1.7 219 |4,041 1.7 219 || | | | ||Banko | 334 3.2 34 | 34 2.7 3 | 368 3.2 37 || | | | ||Folokadi | 395 1.8 23 |1,072 2.1 72 |1,467 2.0 95 || | | | ||Toume Toume | | 258 1.5 12 | 258 1.5 12 || | | | ||Stockpiles/HL Pads|6,784 0.9 187 |2,307 0.7 54 |9,091 0.8 241 || | | | ||TOTAL |48,943 1.4 2,136|16,914 1.6 862 |65,858 1.4 2,998|+------------------+----------------+---------------+----------------+|31 August 2007 |58,100 1.6 2,900|17,200 1.8 970 |75,300 1.6 3,870|+------------------+----------------+---------------+----------------+The Lefa Gold Mine estimated mineral reserves as at 31 August 2009 is 65.9 Mt,at average gold grade of 1.4 g/t, for contained gold of 3.0 million ounces.Since August 2007, mining depletion was approximately 377,000 ounces (6.7 Mt (at)1.7 g/t).Excluding mining depletion, the mineral reserves have decreased by approximately500,000 ounces (13%) to 3.4 million ounces from the 3.9 million ounces announcedfor end August 2007.  Depletion since August 2007 further reduces the reservesto 3.0 million ounces.  This estimate is NI 43-101 compliant.The new mineral reserves were estimated at a gold price of USD 800/oz and arebased on the 2009 mineral resource models. These mineral resource models wererevised following a thorough review of the Lero-Karta and Fayalala mineraldeposits and a review of reconciliation between mining depletion and depletionin the geological model. Additionally, Soci? Mini?s de Dinguiraye (SMD),Crew's subsidiary in Guinea, undertook a geotechnical review of the LEFACorridor pit walls.This review led to a revision of slopes in some areas, butoverall, to the flattening of the north slopes, which led to some reduction inpit depth and consequently loss of mineral reserves.The drilled out areas of the old leach pads are included in the mineral reserveestimate, where 2.3 million tonnes have so far been defined from in-filldrilling, returning  54,000 ounces, including ore losses and dilution.Approximately 7 million tonnes still remain to be drilled, providing furtherpotential.Bill LeClair, President and CEO of Crew commented:"A critical independent reviewof our mineral resources and reserves based on reconciliation results, combinedwith a thorough review of the geotechnical slope parameters, have resulted in arobust estimate of mineral reserves. Thus, while the review has resulted in aslight decrease in the reserve, net of mining depletion and the additions fromexploration drilling, it presents a solid base for Crew to continue expandingthe mineral resource. At 3.0 million ounces in mineral reserves, this placesLEFA in the ranks of world-class gold deposits. The Company is confident thatcontinuing exploration will provide further increases to the mineral resourceand reserve inventory."For further information on the resource data please refer to ourwebsitewww.crewgold.com and to the technical reportentitled "Disclosure of Mineral Resources and Reserves, Lefa Gold Mine,Northeast Guinea, Technical Report Update", dated November 2009, available atwww.sedar.com. William LeClair President & CEOQuality Assurance and Control and Qualified PersonThe reported mineral reserves have been compiled by Mr Edgar Urbaez, a privateconsultant, who has sufficient experience, relevant to the style ofmineralisation and type of deposit under consideration to qualify as a"Qualified Person" within the meaning of Canadian National Instrument 43-101 -Standards of Disclosure for Mineral Projects. Mr Urbaez is "independent" of CrewGold Corporation within the meaning of NI 43-101.Safe Harbour StatementCertain statements contained herein that are not statements of historical fact,may constitute forward-looking statements and are made pursuant to applicableand relevant national legislation (including the Safe-Harbour provisions of theUnited States Private Securities Litigation Reform Act of 1995) in countrieswhere Crew is conducting business and/or investor relations. Forward-lookingstatements, include, but are not limited to those with respect to (1) thefurther potential of areas to be drilled, (2) the expected results of continuedexploration, and (3) any inference that reserve estimates will be accurate whenreconciled to actual results. Often, but not always, forward-looking statementscan be identified by the use of words such as plans, expects, targets, budget,estimates, forecasts, intends, anticipates, believes, or equivalents orvariation, including negative variation, of such words and phrases, or statethat certain actions, events or results, may, could, would, might or will betaken, occur or be achieved. Forward-looking statements involve known andunknown risks, uncertainties and other factors that could cause the actualresults of the Company to be materially different from any future resultsexpressed or implied by such forward-looking statements. Such risks anduncertainties include, among others, (1) the risk that the Company will beunable to proceed with expected exploration activities, and (2) explorationactivities may not yield the results expected. The material factors andassumptions used to develop forward-looking statements which may be incorrect,include, but are not limited to, (1) the Company's continued execution of itscurrent business plan, (2) the financial resources available to the Company, (3)the continued nature and scope of operations at LEFA, and (4) the price of gold.Except as may be required by applicable law or stock exchange regulation, theCompany undertakes no obligation to update publicly or release any revisions tothe forward-looking statements contained herein to reflect events orcircumstances after the date of this document or to reflect the occurrence ofunanticipated events. Accordingly, readers should not place undue reliance onforward-looking statements. Cautionary Note to US Investors - The United StatesSecurities and Exchange Commission permits US mining companies, in their filingswith the SEC, to disclose only those mineral deposits that a company caneconomically and legally extract or produce. We use certain terms in this pressrelease, such as "measured", "indicated", and "inferred" "resources", which theSEC guidelines strictly prohibit US registered companies from including in theirfilings with the SEC. US Investors are urged to consider closely the disclosurefrom the SEC's website athttp://www.sec.gov/edgar.shtml..[HUG#1376571] LEFA Gold Mine Mineral Reserve Update: http://hugin.info/90/R/1376571/337944.pdf

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Datum: 25.01.2010 - 02:37 Uhr
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