Crown announces second quarter results.

DENVER--(BUSINESS WIRE)--Aug. 8, 1995--Crown Resources Corp. today reported a net loss of $468,000, or 3 cents per share, for the second quarter of 1995 compared with net income of $4,266,000, or 32 cents per share, for the second quarter of 1994.

Included in the 1994 results were $8.5 million of mineral property option proceeds, received from Battle Mountain Gold Co., related to the Crown Jewel project.

For the first half of 1995, the company had a net loss of $713,000, or 5 cents per share, compared with net income of $3,688,000, or 28 cents per share, for the same period in 1994.

Revenues for the second quarter of 1995 were $267,000 compared with $219,000, excluding the $8.5 million option payment, for second quarter 1994. Included in total revenues were royalty income of $114,000 and $186,000 and interest income of $153,000 and $33,000 in 1995 and 1994, respectively. The increased interest income in 1995 is due to the company's higher average cash balances during the current quarter.

General and administrative expenses of $694,000 for the second quarter of 1995, compared with $525,000 for the same period last year, reflect certain one-time financial consulting and legal costs in 1995 associated with a merger proposal received and later rejected by the company.

Interest expense of $242,000 for the second quarter 1995 was the same as the year-earlier quarter. During the second quarter of 1994, the company wrote down certain of its exploration properties, primarily in Washingon state, in the amount of $1,329,000. There were no such writedowns in 1995.

Working capital at June 30, 1995, amounted to $9,696,000 compared with $11,981,000 at Dec. 31, 1994. Cash and cash equivalents at June 30, 1995, were $9,370,000.

Crown is listed on the NASDAQ National Market System under the trading symbol CRRS and on the Toronto Stock Exchange under the symbol CRO. -0-

                             Crown Resources Corp.
                     Condensed Consolidated Balance Sheets
                                 (Unaudited)
(in thousands)
                                     June 30, 1995  Dec. 31, 1994
Assets
Cash and cash equivalents                $ 9,370        $12,253
Bullion inventories                          140            107
Other current assets                         679            382
Mineral properties, net                   26,498         25,145
Other assets                               1,367          1,554
Total assets                             $38,054        $39,441

Liabilities and Stockholders'
 Equity
Current liabilities                        $ 493          $ 761
Long-term liabilities                     15,047         15,047
Deferred income taxes                      1,217          1,549
Minority interest                          1,934          2,007
Stockholders' equity                      19,363         20,077
Total liabilities and
 stockholders' equity                    $38,054        $39,441

                   Condensed Consolidated Statements of Operations
                              (Unaudited)
(in thousands, except
 per share amounts)                         Three Months Ended
                                          6/30/95        6/30/94

Revenues                                    $267         $8,719
Costs and expenses:
 Depreciation, depletion
 and amortization                             75             41
General and administrative                   694            525
Interest expense                             242            242
Abandonments                                  (2)         1,329
Arbitration costs                              -              -
Other, net                                    (9)           (17)
                                           1,000          2,120
Income (loss) before income taxes
 and minority interest                      (733)         6,599
Income tax expense (benefit)                (225)         2,348
Income (loss) before minority interest      (508)         4,251
Minority interest in loss of subsidiary       40             15
Net income (loss)                          $(468)        $4,266
Net income (loss) per share               $(0.03)        $  .32
Weighted average shares outstanding       13,156         13,245

                                            Six Months Ended
                                          6/30/95        6/30/94

Revenues                                    $592         $9,160
Costs and expenses:
 Depreciation, depletion
 and amortization                            137             84
General and administrative                 1,113            925
Interest expense                             485            485
Abandonments                                   3          1,387
Arbitration costs                              -            591
Other, net                                   (28)           (21)
                                           1,710          3,451
Income (loss) before income taxes
 and minority interest                    (1,118)         5,709
Income tax expense (benefit)                (332)         2,049
Income (loss) before minority interest      (786)         3,660
Minority interest in loss of subsidiary       73             28
Net income (loss)                          $(713)        $3,688
Net income (loss) per share               $(0.05)        $  .28
Weighted average shares outstanding       13,156         13,087

CONTACT: Crown Resources Corp., Houston

Debbie W. Mino, 800/229-6827 or 713/682-4070