Crew Development: African Subsidiary's Mining Operations Generate Net Income Of R21.4 Million For The Three Months Ended March 31, 2001.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--May 9, 2001

R69.9 Million Cumulative For The Nine Months Then Ended

Crew Development Corporation (the Company) (OTCBB:CRWVF) (TSE:CRU.) (Frankfurt:KNC.) (OSE:CRU.) is pleased to announce that its African subsidiary, Metorex, has reported a net income of R21.4 million (C$4.2 million) for the three months ended March 31, 2001, and R69.9 million (C$14.1 million) for the nine months then ended.

Comparative figures for the preceding year are not available, due to a change in presentation to International Accounting Standards as of July 1, 2000.

Gross revenues for the three months ended March 31, 2001 were R208 million (C$41 million), an increase of 22% from the previous quarter. For the nine months ended March 31, 2001, gross revenues were R578 million (C$117 million), an increase of 61 % as compared with the preceding year.

"We are extremely pleased with the sustained profitability of our subsidiary despite a decline in commodity prices during the last quarter," stated John M. Darch, CEO. "This reflects strong cost control, quality management and increased sales volumes."

Metorex is South Africa's premier mid-tier mining company and owns and operates a diversified portfolio of eight profitable mining operations in Southern Africa and also holds the Perkoa zinc advanced development project in Burkina Faso.

Current Developments

Chibuluma South Project - the first new mine in Zambia in 30 years

Construction of the metallurgical plant and establishment of the open-pit workings has been successfully completed, with production having commenced in April 2001. Tolling and offtake arrangements are being finalized.

Consolidated Murchison - Beta Shaft

The reopening of the Beta Shaft is now complete and production commenced during April 2001.

O'okiep Operations

The O'okiep smelter dump retreatment project has been initiated, which will extend copper production from O'okiep for approximately eight years.

Vergenoeg

The plant upgrade at Vergenoeg mine is continuing, with improvements in recoveries and the quality of product becoming evident.

Corporate Overview

Crew is a mid-tier diversified international mining company, based in Vancouver, Canada. The company controls five quality development projects and owns, through Metorex, eight profitable mines. Crew is active in Norway, Canada, Greenland, the Philippines and Africa and has a demonstrated ability to discover new grassroots projects, advance projects to the development stage, and operate mines efficiently. The company is profitable and well positioned for further growth. The primary listing for Crew shares is the Toronto Stock Exchange (TSE) and since January 2000 it has been listed on the Oslo Stock Exchange (OSE). The company is also listed in Germany and in the US.

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

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