Crown to Restate Its Financial Statements.

DENVER -- Crown Resources Corporation ("Crown") announced today that it determined during the preparation of its annual financial statements for 2004 and the development of its deferred tax accounts related thereto, that it had incorrectly provided income tax benefits on variable plan stock option compensation, with respect to certain outstanding incentive stock options in Crown's 2003 Form 10-K and its quarterly reports on Form 10-Q filed during 2004 ("Crown's Financial Statements").

Upon discovery of the error, Crown's management and audit committee discussed this matter and its effects on Crown's Financial Statements. On March 4, 2005 Crown's audit committee concluded that Crown needs to restate its accounting for taxes related its variable plan stock option compensation since January 1, 2003, and, that investors should not rely on Crown's Financial Statements or on the related auditor's report for the year ended December 31, 2003. The Company will restate its 2003 financial statements in Crown's 2004 Form 10-K and will restate its quarterly reports prospectively.

Crown is a U.S.-domiciled gold exploration company whose major asset is the Buckhorn Mountain Project located in north-central Washington State. Crown is traded on the OTC Bulletin Board under the trading symbol CRCE.

This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding Crown's financial statements for its fiscal year ended December 31, 2003, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Any restatement of historical financial statements is dependant on the outcome of the completion of Crown's Annual Report on Form 10K and Crown does not know what that outcome will be. Other important factors that could cause actual results to differ materially from Crown's expectations are disclosed under the heading "Risk Factors" and elsewhere in Crown's documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities.