Cross Lake Minerals Ltd.
TSX : CRN

Cross Lake Minerals Ltd.

October 02, 2007 09:00 ET

Cross Lake Minerals Ltd.: Drilling Continues to Expand the AT Zone, Porcher Island Project, B.C.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 2, 2007) - Cross Lake Minerals Ltd. ("Cross Lake" or the "Company") (TSX:CRN) is pleased to announce further drill results from the AT Zone on the Porcher Island Property (the "Property").

Diamond Drill Holes CL-07-30 to 33 were drilled to confirm and further extend the gold bearing quartz veins within the AT Zone to the west and at depth. Holes CL-07-30 to 33 are at the western end of the historic drilling. Targets were to the southwest from previous drilling by Cross Lake, and show the continuity of the system laterally and at depth. The following table summarizes the significant results from drill holes CL-07-30 to 33:



------------------------------------------------------------------
From To Interval Gold
Drill Hole (m) (m) (m) (g/t)
------------------------------------------------------------------
CL-07-30 116.27 117.47 1.20 12.22
------------------------------------------------------------------
and 170.37 171.37 1.00 7.73
------------------------------------------------------------------
and 224.85 225.85 1.00 5.44
------------------------------------------------------------------
and 229.93 233.48 3.55 2.36
------------------------------------------------------------------
including 229.93 231.48 1.55 3.46
------------------------------------------------------------------
and 251.63 255.63 4.00 9.04
------------------------------------------------------------------

------------------------------------------------------------------
CL-07-31 61.61 62.61 1.00 4.31
------------------------------------------------------------------

------------------------------------------------------------------
CL-07-32 62.00 63.20 1.20 4.36
------------------------------------------------------------------
and 98.02 99.22 1.20 14.05
------------------------------------------------------------------
and 200.15 201.15 1.00 5.57
------------------------------------------------------------------
and 211.21 212.71 1.50 3.53
------------------------------------------------------------------

------------------------------------------------------------------
CL-07-33 115.46 117.35 1.89 3.58
------------------------------------------------------------------
and 214.09 217.33 3.24 3.22
------------------------------------------------------------------
and 221.88 224.03 2.15 5.17
------------------------------------------------------------------
and 252.46 254.41 1.95 18.92
------------------------------------------------------------------
Note: True width is estimated to be 70-75% of the drilled interval.


These results have confirmed the continuity and excellent grade of the gold bearing vein system and will be used to further expand the AT Zone. Encouraged by the results obtained to date, Cross Lake is analyzing the data in preparation for another drill program that is scheduled to commence this fall.

The Porcher Island Property, at the northwest corner of Porcher Island, is located in the Skeena Mining Division, 35 kilometres south-southwest of Prince Rupert, British Columbia. Active mining took place on the Porcher Island Property during the 1920's and 30's under the names Edye Pass and Surf Point Mines. From 1975 to 1988 extensive exploration by E and B Exploration and Cathedral Gold Corporation resulted in a reported drill outlined mining reserve of 623,095 tons grading (cut and diluted) 0.20 oz/t gold over an average mining width of 11 feet. This reported resource was all above the 1015 adit level and as such still accessible from underground. Furthermore the vein system continues at depth indicating a reported potential for an additional 900,000 tons at similar grades to a depth of 1,000ft below surface in the AT Zone. Within this resource, there are significant high grade intercepts which contain multi ounce material over mineable widths. These resources are historic in nature and were compiled before NI-43-101 and the Company has not verified these results therefore they should not be relied upon. Cross Lake believes these historical results provide an indication of the potential of the Property and are relevant to ongoing exploration.

Assaying is completed at ACME Analytical Laboratories Ltd. using initial fire assaying (group 3B) followed by metallic gold assay of samples greater than 5g/t gold. Exploration work is conducted under the supervision of the Company's Qualified Person and Vice President, Exploration Jim Miller-Tait, P.Geo. Cross Lake is operator of the Project and holds a 65% working interest with Joint Venture Partner Imperial Metals Corporation holding a 35% working interest.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.

12(g) No. 82-2636

Contact Information