Crew Gold Corporation Completes Plan of Arrangement Transaction

LONDON, UNITED KINGDOM -- (Marketwire - Jan. 7, 2011) - Crew Gold Corporation ("Crew") (TSX:CRU) (OSLO:CRU) is pleased to announce that it has completed its previously announced plan of arrangement transaction. Pursuant to the terms of the arrangement agreement entered into between Crew, Nord Gold N.V. and Nord Gold (Yukon) Inc., Nord Gold (Yukon) Inc. has acquired all of the issued and outstanding common shares of Crew (not already owned by Nord Gold N.V. and Nord Gold (Yukon) Inc.).

The depositary will make payments to shareholders who have properly deposited their Crew shares pursuant to the arrangement as soon as reasonably practicable and, in any event, not later than seven days after today's date.


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 of the closing of the transaction.

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.



Contact

Crew Gold Corporation
UK Head Office
+44 -1932 268755
enquiries@crewgold.com
www.crewgold.com