CRU Cameo Industries Corp

Crew Gold Corporation (the "Company") (TSX:CRU) (OSLO:CRU) today announces that
it has agreed confidential terms with its previous CEO, Jan Vestrum, in respect
of an action brought against the Company. The agreement will allow for full and
final settlement of the claim (and all claims between the parties).


William LeClair, President and Chief Executive Officer

Safe Harbour Statement

Certain statements contained herein that are not statements of historical fact,
may constitute forward-looking statements and are made pursuant to applicable
and relevant national legislation (including the Safe-Harbour provisions of the
United States Private Securities Litigation Reform Act of 1995) in countries
where Crew is conducting business and/or investor relations. Forward-looking
statements, include, but are not limited to those with respect to the timing of
the common share consolidation. 


Forward-looking statements involve known and unknown risks, uncertainties and
other factors that could cause the actual results of the Company to be
materially different from the historical results or from any future results
expressed or implied by such forward-looking statements. Although Crew has
attempted to identify important factors that could cause actual events or
results to differ from those described in forward-looking statements contained
herein, there can be no assurance that the forward-looking statements will prove
to be accurate as actual results and future events could differ materially from
those anticipated in such statements. The material factors and assumptions used
to develop forward-looking statements which may be incorrect, include, but are
not limited to, current estimates of the timing to effect the trading of
post-consolidation shares and exchange for post-consolidation share
certificates.


Except as may be required by applicable law or stock exchange regulation, the
Company undertakes no obligation to update publicly or release any revisions to
these forward-looking statements to reflect events or circumstances after the
date of this document or to reflect the occurrence of unanticipated events.
Accordingly, readers should not place undue reliance on forward-looking
statements.

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