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

Cream Minerals Ltd.

October 26, 2006 09:30 ET

Cream Minerals Commences Diamond Drilling on Nuevo Milenio Property, Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 26, 2006) - Cream Minerals Ltd. (TSX VENTURE:CMA)(OTCBB:CRMXF)(FWB:DFL) (www.finanztreff.de) ("Cream") is pleased to report that after an extensive delay diamond drill equipment has arrived on site at its Nuevo Milenio gold-silver project and drilling is commencing. The diamond drill contract calls for 2,000m of HQ drilling with an option to drill an additional 2,000m on the Dos Hornos zone, Nuevo Milenio property, located 20 km from Tepic, Nayarit, Mexico.

The objective of the drill program is to test four known vein structures trending parallel and adjacent to the Dos Hornos Vein #1. The vein zone is approximately 250m wide. As noted in the NI 43-101 report by F. Holcapek, P.Eng., dated February 16, 2006 (also see News Releases January 27, 2006, February 2, 2006 and February 28, 2006) the following inferred mineral resources were shown:



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Strike Average
Zone Length Width Au g/t Ag g/t
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Dos Hornos 700 m 5.50 m 2.827 178.05
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Once Bocas 350 m 100 m 0.345 57.90
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Zone Tonnes Au oz Ag oz
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Dos Hornos 1,530,000 139,000 8,760,000
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Once Bocas 11,590,000 129,000 21,600,000
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TOTAL 13,120,000 268,000 30,340,000
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The area to be tested is part of a 700m section of Dos Hornos Vein #1, which showed sufficient continuity in grade, along strike and down dip to be classified as an Inferred Mineral Resource. The drill program consists of drilling four parallel sections, each section consisting of 2 or 3 diamond drill holes to test targets at depth as well as across the four parallel vein systems. The main purposes of the drill program are to:

1. Establish the type of mineralization below the zone of weathering and leaching;

2. Check for a possible zone of supergene enrichment below the water level;

3. Test the economic potential of four parallel vein structures intersected during the 2003 drill program in the section of Dos Hornos trench 3, DDH 01-03, DDH 02-03 and DDH 11-03; and

4. Clarify the observed discrepancy between underground samples and drill core samples.

Mr. Ferdinand (Fred) Holcapek, P.Eng., is a director of the Company and Director General of Cream's 100% owned Mexican subsidiary, Cream Minerals de Mexico, S.A. de C.V. Mr. Holcapek is the Company's qualified person with respect to Canadian Security Regulations under National Instrument 43-101 for the Nuevo Mileno property.

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


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

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