Cream Minerals Ltd.

Cream Minerals Ltd.

March 21, 2005 14:23 ET

Clarification to News Release 'Cream Minerals Commences Diamond Exploration Programme'


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CREAM MINERALS LTD.

TSX VENTURE SYMBOL: CMA
OTC Bulletin Board SYMBOL: CRMXF

MARCH 21, 2005 - 14:23 ET

Clarification to News Release 'Cream Minerals
Commences Diamond Exploration Programme'

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 21, 2005) - Cream
Minerals Ltd. (TSX VENTURE:CMA)(OTCBB:CRMXF) ("Cream") - Further to
Cream's news release of March 18, 2005, regarding the commencement of a
diamond exploration programme on the Hima Exclusive Prospecting Licence
located on the Sewa River in Sierra Leone, Cream wants to make clear to
the reader that the reference to "inferred resources" in such news
release is a historical statement and does not meet the standards
required by National Instrument 43-101. It has not been verified by the
Qualified Person responsible for the news release and cannot be relied
upon. The resource is not supported by any measured grade, but rather a
grade that is an estimate based upon the experience of the bulletin's
author, P.K. Hall. Readers are advised to read the March 18, 2005 news
release in conjunction with the following, which expands paragraphs 2
and 3 of such news release:

A Sierra Leone Geological Survey Bulletin (Hall, P.K. ARSM, BSc, AMIMM,
(1969): The Diamond Fields of Sierra Leone) indicated 1.8 million carats
of diamonds in 4.46 million cubic yards of gravels, in a category of
"inferred resources" as described by CIM Classifications of Resources
and Reserves, were located in terraces and river gravels on the licence.
This classification was made for sections which were considered by the
author of the report to be mineable (payable) at the time of the
publication of the Bulletin. The historical resource estimate includes
600,000 carats in 1.5 million cubic yards of gravels for the river
gravel section. Work was carried out within the area defined by Hall by
the National Diamond Mining Company (NDMC) in 1976-7. This included
augering, pitting and testing gravels, but did not include mining. The
reported work indicated the basal gravels were diamond bearing. To the
knowledge of Cream there has been no further work done on the property
since that of NDMC. Cream plans to commission a report compliant with NI
43-101 on the property following a site visit next week by an
independent Qualified Person.

Note: This inferred resource is a historical statement and does not meet
standards required by National Instrument 43-101. It has not been
verified by the Qualified Person responsible for this news release and
cannot be relied upon. The resource is not supported by any measured
grade but rather a grade that is an estimate based upon the experience
of the bulletin's author, P.K. Hall. As such, the stated quantity and
grade should be considered conceptual in nature due to the fact that
there has been insufficient exploration to define a mineral resource on
the property and it is uncertain if further exploration will result in
discovery of a mineral resource on the property.

Mr. Benjamin Ainsworth, P.Eng., Cream's "Qualified Person" in Sierra
Leone for the purpose of National Instrument 43-101, is responsible for
the technical information in this news release. For more information
about Cream Minerals Ltd. and its mineral property interests, please see
our website at www.creamminerals.com.

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

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


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Renmark Financial Communications Inc.
    Neil Murray-Lyon
    (514) 939-3989
    (514) 939-3717 (FAX)
    nmurraylyon@renmarkfinancial.com
    or
    Renmark Financial Communications Inc.
    Sylvain Laberge
    (514) 939-3989
    (514) 939-3717 (FAX)
    slaberge@renmarkfinancial.com
    or
    Cream Minerals Ltd.
    Malcolm Powell
    Investor Relations
    (604) 277-1752
    (604) 687-4212 (FAX)
    info@creamminerals.com
    www.creamminerals.com
    No regulatory authority has approved or disapproved the information
    contained in this news release.