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

Cream Minerals Ltd.

January 16, 2007 09:30 ET

Cream Minerals Confirms Gold-Silver Grades With Dos Hornos Drilling

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 16, 2007) - Cream Minerals Ltd. (TSX VENTURE:CMA)(OTCBB:CRMXF)(FWB:DFL)(www.finanztreff.de) ("Cream" or the "Company") is pleased to report that, its 100% owned Mexican subsidiary, Cream Minerals de Mexico S.A. de C.V., has received assay results for Dos Hornos North Zone diamond drill holes DDH 01 -06 and DDH 02 - 06. The results demonstrate the continuity of gold-silver grades along strike and depth.

The present diamond drilling is spaced to approximately 100 m intervals along a 500 metre strike length at the north end of the 3,000 metre Dos Hornos Vein System. Results from the first two diamond drill holes confirm that the mineralization extends to depth, width and length, and carries significant gold-silver values.

Values in hole DDH 01-06 are lower that expected due to poor core recovery (5% to 80%) in quartz-breccia fault zones. However, better core recovery in hole DDH 02-06 showed excellent gold-silver values over widths (drill lengths) of up to 28 m (91.84 ft) in Vein1 (1.647 g/T gold and 78.88 g/T silver). Some of the better values included in this are 14 m (45.92 ft) of 0.529 g/T gold and 134.69 g/T silver, while the highest value (19.300 g/T gold and 134.69 g/T silver) occur over a 2 metre (6.56 ft) width from 130.50 to 132.50 m at the bottom of the mineralized section.

ASSAYS SUMMARY:



DDH 01 - 06 WEIGHTED AVERAGE OF DOS HORNOS VEIN 1 - FAULT-BRECCIA ZONE
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From To Length Length
Description Sample m m m ft Au g/T Ag g/T
----------------------------------------------------------------------

Main Zone 199588 - 92 99.00 109.00 10.00 32.80 0.137 60.16

Including 199590 - 92 103.00 109.00 6.00 19.68 0.203 88.33

Including 199591 105.00 107.00 2.00 6.56 0.484 188.00
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DDH 02 - 06 WEIGHTED AVERAGE OF DOS HORNOS VEIN 1 - FAULT-BRECCIA ZONE
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From To Length Length
Description Sample m m m ft Au g/T Ag g/T
----------------------------------------------------------------------

Main Zone 296135 - 48 104.50 132.50 28.00 91.84 1.647 78.88

Including 296135 - 44 104.50 124.50 20.00 65.6 0.373 97.14

Including 296137 - 43 108.50 122.50 14.00 45.92 0.529 134.69

Including 296139 - 43 112.50 122.50 10.00 32.80 0.493 143.36

Including 296140 - 48 114.50 120.50 6.00 19.68 0.432 205.30

Including 296137 108.50 110.50 2.00 6.56 1.050 180.00

and 296140 114.50 116.50 2.00 6.56 0.914 315.80

and 296148 130.50 132.50 2.00 6.56 19.300 130.00
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Diamond drilling during 2003, has shown that core assays of mineralized breccia - fault zones, when compared to channel samples taken from similar mineralized breccia - fault zones exposed in old workings and surface trenches, are about 30% to 50 % lower. This is caused by low core recovery and washing-out of fines by the drill water. See comparative values below.



SURFACE AND MINE CHANNEL SAMPLES ABOVE HOLE DDH 01-06
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Length Length
Channel Samples Surface Sample # m ft Au g/t Ag g/t
and old Mine
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Trench 1 weighted average 660959 - 63 10.00 32.8 1.219 131.18
including 660961 - 63 6.00 19.68 2.000 194.30
including 660961.00 2.00 6.56 4.452 422.90

Adit 4 all samples
weighted average 182192 - 208 4.03 13.22 1.83 184.86

Adit 4 average widest
Channel Sample 182192 - 95 7.20 23.62 2.03 142.94

Adit 1 all samples average 182166 - 84 3.55 11.64 1.883 248.19
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SURFACE AND MINE CHANNEL SAMPLES ABOVE HOLE DDH 02-06
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Length Length
Description Sample m ft Au g/t Ag g/t
----------------------------------------------------------------------
Trench 2 weathered,
Channel Samples 659793 - 99 14.00 45.92 1.822 29.88
including 659793 - 95 6.00 19.68 3.265 50.97
Shaft 5 weighted average
all samples 182145 - 65 1.89 6.23 2.979 125.02
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DDH 01 - 06 and DDH 02 - 06 confirm the continuity of the mineralized zone along strike and down dip. The mineralized zone appears to open up at depth. See location of holes as referenced in CMA news release dated Wednesday, December 20, 2006, and as attached, or noted on Cream's website at www.creamminerals.com. Due to excellent results, Cream will extend the drill program by an additional 2,000 m of drilling.

Mr. Ferdinand (Fred) Holcapek, P. Eng. is supervising the Diamond Drill program and he is the Company's "Qualified Person" for the purpose of National Instrument 43-101.

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

Table of the entire hole drill intercepts for Dos Hornos North Zone DDH -01-06 & DDH-02-06



DDH 01 - 06 DOS HORNOS VEINS - Including VEIN 1 (Entire Hole)
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From To Length Length
Description Sample m m m ft Au g/T Ag g/T
----------------------------------------------------------------------
Silica flooding,
Qtz vein
199573 69.00 71.00 2.00 6.56 0.015 11.00

Quartz Vein, Fault
199574 71.00 73.00 2.00 6.56 0.015 10.90

199588 99.00 101.00 2.00 6.56 0.055 21.60

Quartz Vein,
breccia, fault
199589 101.00 103.00 2.00 6.56 0.020 14.20

Recovery from
5% to 80%
199590 103.00 105.00 2.00 6.56 0.080 40.10

199591 105.00 107.00 2.00 6.56 0.484 188.00

199592 107.00 109.00 2.00 6.56 0.045 36.90

Quartz Stockwork
zone 75% Recovery
199598 119.00 121.00 2.00 6.56 0.085 22.60
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DDH 02 - 06 DOS HORNOS VEINS - Including VEIN 1 (Entire Hole)
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From To Length Length
Description Sample m m m ft Au g/t Ag g/t
----------------------------------------------------------------------
Quartz Vein
296125 36.00 37.75 1.75 5.74 0.252 4.00
Quartz Vein
296126 70.00 70.55 0.55 1.80 0.329 3.60
Fault and
crushed Breccia 296135 102.50 104.50 2.00 6,56 0.005 14.00


Recovery:
50% Requartz 296135 104.50 106.50 2.00 6.56 0.020 14.00

50%silicified Tuffs 296137 108.50 110.50 2.00 6.56 1.050 180.00

25% quartz -
tuff breccia, 296138 110.50 112.50 2.00 6.56 0.125 24.00

296139 112.50 114.50 2.00 6.56 0.318 67.00
Recovery in
Vein Breccia, 296140 114.50 116.50 2.00 6.56 0.914 315.80
Stockwork - Fault
Zone 50% to 80% 296141 116.50 118.50 2.00 6.56 0.138 190.00
Tuff plus Quartz
frag. 20 % to 80% 296142 118.50 120.50 2.00 6.56 0.245 110.00

296143 120.50 122.50 2.00 6.56 0.850 34.00

296144 122.50 124.50 2.00 6.56 0.065 22.00

296145 124.50 126.50 2.00 6.56 0.020 1.40

296146 126.50 128.50 2.00 6.56 0.005 0.30

296147 128.50 130.50 2.00 6.56 0.005 1.30
Quartz Stockwork
recovery 100% 296148 130.50 132.50 2.00 6.56 19.300 130.00
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To view maps of the Dos Hornos drill site, please visit the following link: http://www.ccnmatthews.com/docs/doshornos.jpg

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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