The Cross Exaltation Cemetery, along with the church of the same name, was located outside the city of Ostashkov, where the city boundary previously ran along 15th Lane, now known as South Lane. Today, the city post office stands on this site.

The cemetery and church, surrounded by a stone fence, were captured in a painting by local artist Y.M. Kolokolnikov-Voronin titled "The Departure of Emperor Alexander I from Ostashkov." It is known that Alexander I visited Ostashkov in 1820, which suggests that the church and cemetery were built no later than the early 19th century.

In the 1930s, the cemetery was closed, and the church and fence gradually fell into disrepair. In the 1960s, the partially ruined church still stood on the outskirts of Ostashkov. By the end of that decade, with the expansion of the city boundaries, construction of a new microdistrict began on the site of the former cemetery, and the cemetery with the church was ultimately destroyed.

Today, only one of the stone towers of the cemetery fence remains. Next to it is a hewn granite stone with a hole, where a donation cup likely once stood.