Press Release, Crestview Exploration Commences Phase 1 Drilling at the Cimarron Gold Prospect - Nye County, Nevada

Calgary, Alberta--(Newsfile Corp. - May 7, 2021) - Crestview Exploration Inc. (CSE: CRS) (FSE: CE7) ("Crestview" or "the Company") is pleased to announce the commencement of the phase 1 drilling at the Cimarron gold prospect ("Cimarron" or the "Property"; see Map 1 below).

MAP 1

To view an enhanced version of Map 1, please visit:
https://orders.newsfilecorp.com/files/7042/83254_094e5b0c44d9092d_003full.jpg

The company broke ground on the first of nine planned drill holes for the phase 1 program at Cimarron on Thursday, May 6, 2021. As a reminder to the reader, this phase 1 drill program will be testing a historic resource in the area of the historic San Antonio mine (see Map 2 below). The targeted areas for phase 1 drilling received significant attention in the 1980's, with an approximately 50,000-ounce shallow oxide gold resource outlined but never extracted (reference is to an internal mining report by Peter Hahn to Budge Mining Ltd. dated February 17, 1987. This resource should be considered as "historic" and not compliant with NI 43-101 standards.). The phase 1 drill program is focused on validating and expanding on the historic resource by drilling a selection of twin holes to greater depths than the former operators.

MAP 2

To view an enhanced version of Map 2, please visit:
https://orders.newsfilecorp.com/files/7042/83254_094e5b0c44d9092d_004full.jpg

"I am happy to report a smooth start and excited about this first program at Cimarron. The historic assay data in the area we are drilling is very encouraging, and I anticipate similar results. We will also be drilling the property to greater depths than the historic drilling, and I am hopeful that we can extend the resource at depth," stated Justin Lowe, Crestview's VP of Exploration.

Please see the following link to a short video of the Cimarron property, including access roads and drill sites: https://www.youtube.com/watch?v=W_2cxVIPKFE

Additional upcoming activity planned at the Cimarron gold prospect includes mapping, geophysics, and surface sampling at both the core claim area and the recently staked expansion.

This News Release was prepared by J.A. Lowe, M.Sc. Geology. Brian T. Brewer, M.Sc., CPG #11508, is a Qualified Person as defined by NI 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.

For additional details on the Cimarron property, the reader is referred to the previous news releases titled: "Crestview Exploration Inc. Acquires a Lease with Option to Purchase on the Cimarron Gold Prospect in Nye County - Nevada" dated February 24, 2021; "Crestview Exploration Inc. Announces Land Expansion at the Cimarron Gold Prospect in Nye County - Nevada" dated March 16, 2021; "Crestview Exploration Contracts AK Drilling to Conduct Phase 1 Drilling at the Cimarron Gold Prospect in Nye County, Nevada" dated March 23, 2021, and "Crestview Exploration Announces Updates to the Upcoming Phase 1 Drilling at the Cimarron Gold Prospect" dated April 21, 2021.

About Crestview Exploration Inc:

Crestview Exploration is a technology driven, well-funded and experienced exploration company focused on finding gold and silver deposits in mining friendly jurisdictions. The Crestview's projects Rock Creek, Divide, and Castile Mountain are situated in the Tuscarora Mountains of northern Elko County, Nevada. The company's Tuscarora properties combined comprise a total of 101 unpatented lode mining claims, with 74 claims at Rock Creek, 19 claims at Divide, and 8 claims at Castile Mountain.

The Cimarron project is located in the San Antonio Mountains of Nye County, Nevada, and is comprised of 53 unpatented lode mining claims, including control of 6 historically producing claims associated with the historic San Antonio mine.

Glen Watson, Chief Executive Officer
Tel: 1-604-803-5229
Email: Glen@crestviewexploration.com

Forward-Looking Information

This news release includes certain information that may be deemed "forward-looking information" under applicable securities laws. All statements in this release, other than statements of historical facts, that address acquisition of the Property and future work thereon, mineral resource and reserve potential, exploration activities and events or developments that the Company expects is forward-looking information. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the results of the Company's due diligence investigations, market prices, exploration successes, continued availability of capital financing, and general economic, market or business conditions, and those additionally described in the Company's filings with the Canadian securities authorities.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company's public filings at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE