Cream Minerals Ltd.
OTC Bulletin Board : CRMXF
TSX VENTURE : CMA
FRANKFURT : DFL

Cream Minerals Ltd.

January 26, 2007 18:10 ET

Cream Minerals Announces $1 Million Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 26, 2007) - Cream Minerals Ltd. (TSX VENTURE:CMA)(OTCBB:CRMXF)(FWB:DFL) ("Cream") is pleased to announce that, subject to regulatory approval, it will carry out a non-brokered private placement of up to 2,500,000 units (the "Units") at a price of $0.40 per Unit, for gross proceeds of up to $1,000,000. Each Unit is comprised of one common share in the capital of Cream and one-half of one non-transferable share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional common share of Cream for a period of 24 months from closing at an exercise price of $0.50 per share. Insiders of Cream are subscribing for an aggregate 100% of the private placement.

All shares, warrants and any shares issued upon exercise of the warrants with respect to the above private placements are subject to a hold period and may not be traded for four months plus one day from the date of issuance. No finders' fees are due or payable for this private placement offering.

Proceeds from the non-brokered private placement will be used to continue silver-gold exploration at Cream's Nuevo Milenio project in Mexico, to continue bulk sampling for diamonds at its Casierra project in Sierra Leone, and for general working capital.

For more information about Cream and its mineral property interests, please see our website at www.creamminerals.com.

Frank A. Lang, MA, P. Eng., President & CEO

U.S. 20-F Registration: 000-29870

No regulatory authority has approved or disapproved the information contained in this news release.

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