Crew's Ownership of High Grade Gold Project in Greenland to Increase to 65%.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--April 4, 2000

Crew Development Corporation ("Crew") (TSE:CRU.) (FRANKFURT:KNC.) is pleased to announce that by providing the majority of the funding for the development program this summer, it will increase its ownership in the high grade Nalunaq Gold Project in Southern Greenland from 50% to 65%.

The 2000 work program is budgeted at DKK40 million (C$7.2 million), of which Crew's partner in the project, NunaMinerals AS (Government of Greenland), has committed to contribute DKK6 million (C$1.1 million) and Crew has committed to contribute the balance of DKK34 million (C$6.1 million).

The work program has been designed in conjunction with NunaMinerals and Strathcona Mineral Services of Canada. The objectives of the work program are to perform sufficient development work in order to make a production decision by early 2001, and provide confidence to the providers of debt financing of the mine construction costs (estimated to approximate US$20 million by MRDI). Mobilization for the 2000 work program has already commenced.

The objectives for this year's program are to upgrade the known resources to "measured" and "indicated" categories and to verify the grade of the resource by way of bulk sampling.

The following work program is planned:

       * Extend the existing 290 m adit by at least 150 m;
       * Drive two additional adits 850 m in total;
       * Drive 610 m of raises between the three adits;
       * Conduct a sample verification program by constructing [pilcrow
(paragraph sign)] and
running a sample tower with crushing capacity of up to 500 tonnes per
day, for quantitative sampling of each blast round in adits and 15-20
m intervals in the raises.

The additional adits are essential in the evaluation of this high-grade vein structure as drilling alone will not define the grade sufficiently accurately. The project has currently defined 425,000 ounces in the "indicated" and "inferred" categories in a limited part of a geological resource of 1.8 million ounces, which has a significant potential for further expansion.

A March 1999 pre-feasibility study by MRDI (H.A. Simons) estimated for a production rate of 500 tonnes per day and a gold price of US$300/ounce, the following:

NPV (10%)         US$39.8 million
IRR               51%
Capital cost      US$19.8 million
Payback           1.8 years
Life of mine      7.2 years
Cash cost         US$160/ounce
Production        148,000 ounces/year

To date, 78 holes (10,930 m) of core drilling, 290 meters of underground aditing and 600 m of surface channel sampling at 1-meter intervals have been completed in a limited portion of the mineralized structure. Results of the previous surface and underground sampling have demonstrated a consistent high-grade mineralization, averaging 32 grams of gold per tonne, over one meter. MRDI have calculated a mill-feed grade of 27 grams per tonne, including dilution and losses. In addition, bench-scale metallurgical test work (Lakefield Laboratory), has been conducted with recoveries of up to 85% by gravity (plus) 96% through gravity combined with CIP.

Several additional gold occurrences have been defined on the 365 square kilometer concession, which warrant further exploration.

The Nalunaq Gold Project is located in southernmost Greenland close to an ice-free fjord, which will allow year-round production and shipping. The project is less than 40 km away from the town of Nanortalik, a well-established modern community.

John M. Darch, President and C.E.O.

This News Release was prepared by the Board of Directors on behalf of Crew Development Corp. which is solely responsible for its contents.