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

Cream Minerals Ltd.

March 12, 2008 12:29 ET

Cream Minerals Discovers Diamonds in First Tests of 2008 Program in Sierra Leone

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 12, 2008) - Cream Minerals Ltd. (TSX VENTURE:CMA)(OTCBB:CRMXF)(FRANKFURT:DFL) ("Cream" or the "Company") is pleased to announce that with an expanded team of experienced placer operators and marine engineering personnel, 46 diamonds were discovered in the first four days of operations at its Sewa River exploration licence in Sierra Leone (the "Property"). The diamonds were recovered from the upstream end of the approximately 4-kilometre long river section of the Property and range in size from 2.92 carats ("cts") to 0.08 cts. In aggregate, the 46 stones have a total weight of approximately 21.5 cts. This measurement was made by a Qualified Person on a standard field balance which has an error estimated to be less than 0.02 cts in still air. More than 90% of the stones (by weight) are considered to be of gem quality.

The Company is undertaking the current work program in order to evaluate alternative mining methods for the Property and to obtain better measurement of resource potential.

All minerals recovered from this operation are being submitted to the Government of Sierra Leone Gold and Diamond Office (GGDO) for determination of royalties (which gives an estimate of total value of the rough diamonds) and to the Kimberley Process for certificates of origin for the stones. Following payment of applicable royalties, Cream will be able to export and sell its production.

Benjamin Ainsworth, P.Eng, British Columbia, Canada, is the Qualified Person responsible for preparing this news release for Cream Minerals Ltd.

On behalf of the Board,

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

This release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.

Cautionary Language and Forward-Looking Statements

This press release may contain "forward-looking statements", which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure documents filed from time to time with the Canadian securities authorities.

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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release.

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