CRU Cameo Industries Corp

Crew Gold Corporation ("Crew" or "the Company") (TSX:CRU)(OSLO:CRU) today
announces:-


Reference is made to the Company's notice of special meeting and the proposed
plan of arrangement. In anticipation of the effective date of the plan of
arrangement being December 13, 2010, the last day of all cross border trading
with normal settlement period will be December 3, 2010. All cross border trading
will be stopped on December 7, 2010, with the last settlement date being
December 8, 2010. All cross border trades not settled by December 8, 2010 will
be cancelled on December 9.


Furthermore, and upon the final approval of the plan of arrangement by the
Supreme Court of Yukon and subsequent closing of the plan of arrangement, Crew
expects Oslo Bors to permanently stop all trading in the company's shares on
Oslo Bors as of December 14, 2010.


The consideration payable pursuant to the plan of arrangement in respect of
common shares of the Company registered in the VPS (the Norwegian Securities
Depository) will be converted from USD to NOK and paid to the registered holder
of such common shares to such holder's bank account registered with the VPS. If
the registered holder has not registered a bank account with the VPS they will
receive a giro or a cheque.


Further information and details about the plan of arrangement are contained in
the notice of the special meeting of the Company dated November 5, 2010, which
can be found on SEDAR at www.sedar.com and www.newsweb.no. 


William LeClair, 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. Such risks and
uncertainties include, among others, whether the trading of post-consolidation
shares and exchange for post-consolidation share certificates will occur in a
timely manner. 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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