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

Cream Minerals Ltd.

June 30, 2005 17:27 ET

Cream Minerals Ltd.: Diamond Drill Program Completed and Fenix Option Terminated

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 30, 2005) - Cream Minerals Ltd. (TSX VENTURE:CMA)(OTCBB:CRMXF) ("Cream") announces that, through its 100% owned Mexican subsidiary Cream Minerals de Mexico S.A. de C.V., it has completed a 4 hole diamond drill program for a total of 619 m on the Fenix project located in Nayarit, Mexico.

The purpose of the drill program was to test the grade at depth and to check the indicated extension towards Mina La Reina, located 700 m to the east. Underground channel sampling outlined a high grade gold - silver zone giving average assays as follows:



FENIX Drift Length Width Au g/t Ag g/t
---------------------------------------------------------------------
All Roof Samples weighted averge 96 m 2.19 11.838 1,482.61
Including 46 m west drift 46 m 1.60 39.70 4,783.00


Regrettably, diamond drilling did not confirm the presence at depth or along strike of the high grade gold silver zone outlined within the Fenix Mine. Additionally, other veins Veta Blanca and Veta Llorona were intersected, but width and grade were also sub-economic and non-continuous. The Company has terminated the option agreement on the project.



--------------------------------------------------------------------
Northings Eastings Azimuth Dip Length m Remarks
--------------------------------------------------------------------
DDH 01-05 2317584 564444 55 - 45 164.60 Fault
Breccia,
rods stuck
--------------------------------------------------------------------
DDH 02-05 2317571 564508 55 - 46 219.00
--------------------------------------------------------------------
DDH 03-05 2317538 564115 55 - 46 105.00 Fault rod
stuck
--------------------------------------------------------------------
DDH 04-05 2317583 564444 55 - 57 130.30 Fault rod
stuck
--------------------------------------------------------------------

Core samples gave the following assay returns:

---------------------------------------------------------------------
Len-
DESCR- SAMPLE from To gth Au Ag Cu Pb Zn
IPTION # m m m g/t g/t ppm ppm ppm
---------------------------------------------------------------------
DDH 01 - 05
---------------------------------------------------------------------
Alter-
ation
minor
qtz 296011 24.00 26.00 2.00 0.016 35.90 3370 317 8
---------------------------------------------------------------------
-Veta
Fenix 296016 96.20 97.00 0.80 1.632 136.80 292 82 13
---------------------------------------------------------------------
Alter-
ation
zone,
shear 296027 155.50 157.00 1.50 0.037 38.30 82 104 44
---------------------------------------------------------------------
Chalco-
pyrite
zone 296028 157.00 158.50 1.50 0.128 45.00 760 154 53
---------------------------------------------------------------------
Fault
breccia.
quartz 296029 158.50 159.30 0.80 0.086 20.30 3910 93 15
---------------------------------------------------------------------
Low
recovery
30% 296030 159.30 161.30 2.00 0.116 38.70 2770 64 30
---------------------------------------------------------------------

DDH 04 - 05 Below DDH 01 -05, Veta Fenix not intersected.
---------------------------------------------------------------------
Same as
DDH 01
-05 296079 29.80 31.80 2.00 0.500 44.00 640 1690 990
---------------------------------------------------------------------

DDH 02 - 05 - 45, 55 m to East of DDH 01 - 05
---------------------------------------------------------------------
Veta
Blanca 296055 96.00 97.50 1.50 1.949 321.00 3380 3030 3520
---------------------------------------------------------------------
Alter-
ation
zone 296056 97.50 99.00 1.50 0.069 9.20 341 287 155
---------------------------------------------------------------------
Veta
Fenix 296061 113.80 114.90 1.10 0.550 17.5 1250 77 88
---------------------------------------------------------------------

DDH 03 - 05 325 m west of DDH 01-05, Veta Fenix not encountered
---------------------------------------------------------------------
Veta
Llorona, 296072 73.10 73.80 0.70 0.014 96.00 800 450 600
---------------------------------------------------------------------
Alter-
ation 296076 93.40 94.90 1.50 0.024 8.60 173 97 202
---------------------------------------------------------------------
With
quartz,
calcite 296077 94.90 96.50 1.60 0.044 12.60 416 155 296
---------------------------------------------------------------------


The Fenix Property has been under the supervision of Mr. Ferdinand Holcapek, P.Eng. Mr. Holcapek is the Company's "Qualified Person" for the purpose of National Instrument 43-101, as defined by National Instrument 43-101, Standards of Disclosure of Mineral Projects, Canadian Securities Administrators.

For more information about Cream Minerals Ltd., the Company's mineral property interests, or to view the European Presentation, please visit our website at www.creamminerals.com.

Frank A. Lang, 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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