EXHIBIT 99.1

              Certification by the Audit Committee of Crested Corp.
                To the Board of Directors of the Corporation at


     The  Board  of  Directors formed an Audit Committee and adopted a committee
charter  at  its  meeting  on  May  30,  2000.

     The  committee  reviewed  the  annual  audit  and report for the year ended
December  31,  2003 prior to its issuance and prior to its inclusion in the Form
10-K  filed  with  the  SEC.  In  addition,  the  committee  has met with senior
management  to  discuss,  understand  and  oversee  the  fiscal  matters  of the
corporation.

     Members of the committee have discussed various accounting matters with the
independent  accounting firm who conducted the audit for the year ended December
31,  2003,  and  did a review of the quarterly report for the period ended March
31,  2004.  The  committee recommends to the Board of Directors that the present
auditing  firm  is  qualified  to continue to do the audit work and that they be
selected  to perform the annual audit for the year ending December 31, 2004. The
audit firm confirms that they believe they are independent as to the corporation
in  regards  the definition of independence of the Securities Act and Securities
and  Exchange  Commission.

     The  members  of  the  committee  hereby  certify  that:

     1)   they  have  met  with management and the outside audit firm to discuss
          the  financial  statement  reporting  process, the internal accounting
          control  systems  and  the quality and independence of the audit work.

     2)   they  have  reviewed  the  corporation's  annual  audited  financial
          statement  for the year ended December 31, 2003 and recommend that the
          report  be  included  in  the  proxy  statement  to  be  mailed to the
          shareholders  of  record  for  the annual meeting to be held in August
          2004.

     3)   they  recommend  to  the  Board of Directors that the present auditing
          firm  be  retained  as  outside  accountants  to  review the quarterly
          financial  statements  and  perform  the  annual  audit for the period
          ending  December  31,  2004.



                                          /s/  Michael  D.  Zwickl
                                       ------------------------------------
                                        independent  member