Red Crescent Resources Limited (TSX:RCB)(FRANKFURT:7RC) ("RCR"), a base metals
focused mineral exploration and mine development company with mining operations
in Turkey, is pleased to provide an update on its activities from those reported
December 10, 2012. 


At its Hakkari Zinc Project, the Company continues to produce from open pit and
underground operations on the Uzumcu (Pentagon) license where, since
commencement of production in mid-September 2012, a total of 3,290 tonnes of
Direct Shippable Ore ("DSO") have been exported, 1,113 tonnes in November and
2,177 tonnes in December. In addition, a third lot of approximately 2,500 tonnes
of DSO has been produced and is being stored at Hakkari awaiting shipment to
port at Mersin for export when weather conditions permit. 


The Dense Media Separation ("DMS") process plant and its related auxiliary
equipment in Hakkari have been cold commissioned and are currently under
protection against severe winter conditions. When put into full commercial
operation, with hot-commissioning expected to occur during the spring of 2013,
the DMS will enable the Company to produce saleable concentrates from the
enrichment of non-DSO materials mined. Previous test work (float/sink) has been
confirmed and is now being improved using the FeSi as dense media at the
University of Hacettepe in Ankara.


Discussions with selected parties to monetize the Sivas and Tufanbeyli projects
are still in progress and might include entering into joint venture
arrangements, sale of part or all of a property or further exploration as
additional cash resources become available.


Parallel to the above, test work undertaken has indicated that up to 3.000
tons/month (greater than 24% Zn) of saleable concentrates could be produced from
non-DSO materials at the Tufanbeyli Project site. Discussions have been
initiated with potential customers for an investment to support the
commissioning of the Company's second DMS at Tufanbeyli to produce saleable
concentrates from the enrichment of non-DSO materials mined.


A new $2M term loan with Garanti Bank Amsterdam has been put in place in order
to finance 2013 current expenses as well as payment of outstanding liabilities.


Within the framework of the Company's rescue package implemented on June 2012,
the total head count, as of end 2012, has decreased to 18 from 42, and
management continues with the model of a small centralized organization with a
dedicated core team and the outsourcing of most of activities, such as
administration, finance and production. 


RCR received the resignation of its long serving CFO, Mr. Richard Giel during
November 2012 and the Board wishes to thank Mr. Giel for his contribution to the
Company. 


As a result, RCR has appointed Mr. Harvey H. McKenzie C.A. as its new CFO with
effect from January 1st 2013. Mr. McKenzie is a manager with over 40 years'
experience in a variety of industries with specific expertise in the mining
industry and financial services with a record of achievement as a hands on Chief
Financial Officer. The RCR Board welcomes Mr. McKenzie to the team and looks
forward to his contribution as the Company grows.


Forward-looking statements

This press release contains certain "forward-looking statements". All statements
that are not historical facts, including, among others, statements regarding
plans for processing of zinc oxide and sulphide mineralised materials mined at
the Hakkari Zinc Project, expected prices of metals and minerals and other
statements regarding future estimates, plans, objectives and performance are
forward-looking statements. There can be no assurance that such forward-looking
statements will prove to be accurate. Such statements are based on certain
assumptions, including, among others, pricing assumptions regarding mineral
commodities and there being no significant disruptions affecting operations on
our properties or other material adverse changes. Such statements involve known
and unknown risks and uncertainties that could cause actual results and future
events to differ materially from those anticipated by such statements. Such
risks and uncertainties include, among others, the actual prices of metals and
minerals, the actual results of current exploration and mining activities,
changes in project parameters as plans are evaluated, as well as those
assumptions, risks and other factors identified and reported in our public
filings with Canadian securities regulators (including our annual information
form), which can be accessed at www.sedar.com. The forward-looking information
contained in this press release is made as of the date hereof. Other than as
specifically required by law, we undertake no obligation to update or revise any
forward-looking information, whether as a result of new information, future
events or otherwise. Readers are cautioned not to place undue reliance on
forward-looking statements.


About Red Crescent Resources Limited

Red Crescent Resources Limited (TSX:RCB)(FRANKFURT:7RC) is a Canadian-based,
base metals focused, mineral exploration and mine development company with
mining operations in Turkey, targeting historically inaccessible areas where no
modern application of exploration techniques or technology has been applied,
with high potential for discovery of significant base metal deposits. For more
information, please visit www.redcrescentresources.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Red Crescent Resources Limited
Dr. Selahaddin Anac
CEO
+ 90 532 341 22 51
+ 90 312 448 29 26 (FAX)
sanac@rcrholding.com.tr
www.redcrescentresources.com