Gold Crest Mines Inc. Hires New President and CEO

Gold Crest Mines, Inc. (Pink Sheets: GCMN - News; the “Company”) is pleased to announce that Thomas H. Parker has been named its new President and Chief Executive Officer and a Director of the company. He will replace Howard Crosby, the current President and CEO and one of the founders of Gold Crest. Mr. Crosby remains a Director of the company.

A mining engineering graduate from the South Dakota School of Mines and Technology, with a Master’s Degree in mineral engineering management from Penn State, Mr. Parker has worked extensively in senior management positions in the mining industry for more than forty years.

Most recently, he was the President and CEO for High Plains Uranium, Inc., a uranium company focusing on ISL uranium properties in Wyoming and Texas. High Plains has been acquired by Energy Metals Corporation, a leader in the ISL uranium industry. Prior to High Plains, Mr. Parker was Executive Vice President of Anderson and Schwab, a prestigious New York based consulting firm where his clients included UBS, Norilsk Nickel and Inco. Before joining Anderson and Schwab, he was Chief Executive Officer of Costain Coal, where he managed a $425 million company with 22 operating coal mines and over 2,000 employees.

Earlier in his career, Mr. Parker managed mining operations for Arco Coal, Anaconda Minerals and Kerr McGee, among others. From 1978 to 1981, he was director and project manager for Conoco’s uranium joint venture with Cogema and the French Government in Niger. He has extensive experience in Australia, Venezuela and Canada as well many of the western states.

“We are absolutely delighted to have someone with Tom’s depth of experience and proven leadership skills to lead us forward,” said Howard Crosby, “I have seen Tom create significant value in High Plains and have complete confidence in his abilities.”

The Company also announces that it has currently raised approximately $5.5 million between both US and Foreign investors. The management of Gold Crest Mines has prepared an aggressive 2007 exploration program for its Alaska and Idaho properties. Included in these plans are 10,000 feet of helicopter- supported diamond drilling on several targets within the Kisa prospect, which is located in the Kuskokwim Mineral Belt in Southwest Alaska.

Disclosure Regarding Forward-Looking Statements

This letter includes “forward-looking statements.” All statements, other than statements of historical facts included in this letter including, without limitation, statements regarding the Company’s financial position, business strategy, budgets, plans and objectives of management for future operations, are forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed and discussed under the Company’s Form 10-SB Registration Statement filings with the SEC.