Creston Moly Corp. (TSXV: CMS) (“Creston”) and Mercator Minerals Ltd. (TSX: ML) (“Mercator”) are pleased to announce that the shareholders of Creston have voted overwhelmingly in favour of the previously announced friendly business combination, by way of Plan of Arrangement (the “Arrangement”) with Mercator at its Special Meeting of Shareholders held on June 14, 2011.

“The combination of Mercator and Creston will create a strong copper-moly company, combining an operating mine with a large resource base with excellent prospects for internal growth through the completion of the second phase of expansion at Mineral Park, the development of the El Pilar copper project and the El Creston molybdenum project”, said Bruce McLeod, President and CEO of Creston. “Management believes that the new company is well positioned to become a strong intermediate base metals producer.”

“Mercator is very pleased to have the support of Creston’s shareholders in pursuit of this business combination. We look forward to working with Creston’s team to maximize the value of Mineral Park, El Pilar and El Creston”, said Michael Surratt, CEO of Mercator.

A special resolution approving the Plan of Arrangement (the “Arrangement Resolution”) was passed by Creston’s shareholders present in person and by proxy at the Meeting. A total of 176,668,360 shares voted (excluding shares held by Bruce McLeod, who will become the new President & CEO of Mercator post-arrangement), representing 63.3% of the total eligible votes. Specifically, 99.3% of the votes cast in respect of the Arrangement Resolution voted in favour of the transaction.

Subject to obtaining the approval of the Supreme Court of British Columbia and the satisfaction of certain other closing conditions, the Arrangement is expected to close on or around June 22, 2011.

On Behalf of the Board of Directors
CRESTON MOLY CORP.

Per: D. Bruce McLeod

D. Bruce McLeod, President & CEO

For further information, please contact:
Mr. Bruce McLeod, President & CEO
Or Investor Relations, Chris Curran at 604-687-7545 (TEL) or (888)338-2200 (TOLL FREE)
Or Ken MacDonald at 604-694-0005 (TEL)
Website: www.crestonmoly.com