Frank A. Lang

December 01, 2010 15:40 ET

Chairman Frank Lang Plans Not to Tender to the Endeavour Offer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2010) - Mr. Frank Lang, the Chairman and largest shareholder in Cream Minerals Ltd. (the "Company") (TSX VENTURE:CMA), announces that, following consideration of the offer of $0.14/share (in cash or shares) from Endeavour Silver Corporation, he has no plans to tender shares to that offer.

It is his personal opinion, not supported by an independent valuation, that the potential of the Company's properties is considerable and warrants a higher valuation. While shareholders must make their own analyses, it is his view that, in preference to the Endeavour offer, the Company should remain independent and consider other options or joint ventures, such as that recently proposed by Minco Silver Corporation in relation to the Nuevo Milenio gold-silver project in Mexico.

This could give the Company the opportunity to proceed quickly with exploring and diamond drilling its other gold and silver properties in Canada.

Mr. Lang is strongly supported by numerous shareholders and in particular by Mr. Ferdinand Holcapek, P. Eng., Geologist/Director, General Administrator, Cream Minerals de Mexico, S.A. de C.V.

Mr. Lang holds 24.06% and Mr. Holcapek holds 3.54% of the outstanding securities of the Company on a fully diluted basis.

Frank A. Lang, BA, MA, P. Eng.

Ferdinand Holcapek, P. Eng. Geology

Contact Information

  • Frank A. Lang, BA, MA, P. Eng.