Agoracom

VANCOUVER, March 12 /CNW Telbec/ - Creston Moly Corp. ("Creston" or the "Company") (TSX-V: CMS) announces that its board of directors has adopted a Shareholder Rights Plan (the "Rights Plan"). The objectives of the Rights Plan are to ensure, to the extent possible, that all shareholders of the Company are treated equally and fairly in connection with any take-over bid for the Company. Take-over bids may not always result in shareholders receiving equal or fair treatment or full value for their investment. In addition, current securities legislation only requires a take-over bid to remain open for 35 days. The Board believes that this period may be insufficient for the shareholders to evaluate a bid, or for the Board to pursue alternatives which could maximize shareholder value and make informed recommendations to shareholders. The Rights Plan was not adopted in response to, or in anticipation of, any acquisition or takeover offer. The Company is not aware of any pending or threatened takeover bid.

In order to implement the Rights Plan, the board of directors has authorized the issuance of the rights to holders of its common shares at the rate of one right for each common share outstanding. For administrative convenience, the rights will automatically attach to the common shares without further action by the shareholders, and will be represented by certificates representing the common shares. On the occurrence of certain triggering events, which includes the acquisition by a person or a group of 20% or more of the votes attached to all outstanding voting shares of the Company in a transaction not approved by the board of directors, the rights will entitle to holders (other than the acquiring person or group) to acquire common shares of the Company at a 50% discount to the market price. The rights are not triggered by purchases of voting shares made pursuant to a "permitted bid", which is a takeover bid made by way of a formal takeover bid circular to all holders of common shares on identical terms, which is open for at least 60 days and is for a minimum of at least 50% of the outstanding voting shares held by independent shareholders, and which permits shareholders who tender their shares to subsequently withdraw them before the closing date of the bid.

The Rights Plan is subject to acceptance by the TSX Venture Exchange and ratification by the Company's shareholders. The Rights Plan will be submitted to the shareholders for ratification at the Company's upcoming annual general meeting, scheduled for April 10, 2008.

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:

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 acceptresponsibility 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.