Crew Gold Corporation: Consolidation of Common Shares on a 20 to 1 Basis

Crew Gold Corporation (TSX:CRU) (OSLO:CRU) today announced that the Company intends to file articles of amendment to effect the consolidation of its issued and outstanding common shares on the basis of a ratio of twenty (20) pre?consolidation shares for every one (1) post?consolidation share, which is expected to be effective as of July 30, 2010.

The press release is quoted as saying:

The Company believes that it is in its best interest and in the best interest of its shareholders to effect the share consolidation.

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