Crescent Resources Corp. (TSX VENTURE:CRC) ("Crescent") has elected to not
proceed with a letter agreement with Australian Potash Company Pty Ltd. ("APC")
and its shareholders announced on July 30, 2008. Current market conditions have
contributed to the decision and Crescent would have been unable to raise
sufficient funds to meet its financial commitments to APC should it have entered
into a definitive agreement to pursue this opportunity.


About Crescent

Crescent is a mineral exploration and development company with a defined growth
strategy of adding value through discovery and rapid project advancement through
exploration. The Company has 30.7 million common shares outstanding.


CRESCENT RESOURCES CORP.

Michael Hopley, President and Chief Executive Officer
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