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

Cream Minerals Ltd.

May 01, 2007 09:31 ET

Cream Minerals' Property Updates

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 1, 2007) - Cream Minerals Ltd. (TSX VENTURE:CMA)(OTCBB:CRMXF)(FRANKFURT:DFL) ("Cream") is pleased to report that it has received the sum of $885,135 from the exercise of warrants and stock options in the March-April period. The total number of shares now outstanding is 43,820,643.

Funds received will be used to advance ongoing work at Cream's projects in Sierra Leone and Mexico, as well as for working capital.

In Sierra Leone, a large fenced campground has been completed at Hima townsite and a 400-metre road built to the Sewa River. After overcoming numerous transport delays all equipment, including a Caterpillar 211 Crawler Excavator, a Gekko Diamond Pre-Concentrator, Toyo Pumps, dredges, generators, fuel supplies, sluice boxes, screens and associated equipment required to maximize the search for and recovery of alluvial diamonds, is now in place and ready for startup on Wednesday morning.

In Mexico, diamond drilling is continuing after a prolonged shutdown for Easter and maintenance. Assay results for holes 15, 16, 17 and 18 will be published tomorrow, along with a longitudinal drill map section.

For more information, including video presentations, about Cream and its mineral property interests, please visit Cream's website - 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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