Creso Exploration Inc CRXEF

MD & A- Nov. 29 2010

[LuckyVP]

Look where $500,000 went....RELEASE THE RESULTS!!!!!
1) Consulting fees of $17,983 paid to a private company controlled by the President of the

Corporation for geological services from July 15 to September 30, 2010 and $13,192 ($12,920 for

the nine-month period ended September 30, 2009) paid to the former President of the

Corporation from January to July 15, 2010;

2) Legal fees relating to the Financing paid to the Corporate Secretary;

3) Professional and consulting fees includes:

a) Accounting fees paid to a private company controlled by the Chief Financial Officer (“CFO”)

of the Corporation for bookkeeping, accounting, and related administrative services;

b) Legal fees paid to a company controlled by the Corporate Secretary;

c) Consulting fee of $100,000 for the nine-month period ended September 30, 2010 ($85,000

for the nine-month period ended September 30, 2009) paid to a company controlled by the

Chairman;

d) Consulting fees of $26,137 paid from July 15 to September 30, 2010 to a private company

controlled by the President of the Corporation;

e) Consulting fees of $72,335 paid from January to July 15, 2010 ($35,445 for the nine-month

period ended September 30, 2009) to a private company controlled by the former President

of the Corporation;

f) The Corporation paid $225,000 in bonuses to the Chairman ($150,000) and the CFO

($75,000) of the Corporation in June 2010.