Cream Minerals Ltd.
OTC Bulletin Board : CRMXF

Cream Minerals Ltd.

March 11, 2008 08:30 ET

Cream Minerals Receives Mining Licence for Sewa River Bulk Sampling Programme

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 11, 2008) - Cream Minerals Ltd. (TSX VENTURE:CMA)(OTCBB:CRMXF)(FRANKFURT:DFL) ("Cream" or the "Company") is pleased to announce that it has received mining licences and permits from the Sierra Leone Department of Mines and the indigenous Lugbu Chiefdom to proceed with a bulk sampling program on Cream's exploration licence on the Sewa River in Sierra Leone for diamonds, gold and other precious minerals.

With an expanded team of experienced placer operators and marine engineering personnel, Cream has now completed the assembly and testing of its heavy mineral processing plant for river gravels on its Sewa River licences. Implementation of the bulk sampling program is expected to start immediately. The area being tested is on the same section of the Sewa River as where three bulk samples totalling approximately 6 cubic meters of diamondiferous alluvial product were processed in 2007 (the "2007 Bulk Samples"). The weighted average of the grades of the 2007 Bulk Samples was 0.55 carats per cubic meter (see Cream's news release dated May 23, 2007), which is comparable to earlier estimates of grades discussed in reports by the Geological Survey of Sierra Leone (See Cream's news release dated December 15, 2006).

The 2007 Bulk Samples were taken from the active sediments of the Sewa River which is more than 500 meters wide with large islands formed down stream of several of the diabase dykes that cross the river at right angles to its course. Water levels in the Sewa River are again exceptionally low this year, exposing nine of these dykes in sand bars in the downstream part of the 10-kilometer stretch of the River covered by the mining licence. Several dykes were discovered on the upstream sector of the mining licence during the 2007 sampling program. The dykes act as giant natural riffles across the full width of the river bed, causing the concentration of heavy minerals such as diamonds and gold.

Other minerals that have been recovered with diamonds from the Sewa River include lilac coloured garnets, possibly of the pyrope range that are an indicator mineral for kimberlitic rocks, collanda (a local name for ilmenite and iron oxide gravel fragments with similar density to the target diamonds) and fine grained flake gold. A gold recovery circuit is included in Cream's heavy mineral processing plant.

All precious minerals recovered are to be submitted to Sierra Leone's Government Gold and Diamond Office (GGDO) and to the Kimberley Process for the certification of the gems. Following payment of requisite royalties, if any, to the government of Sierra Leone, as prescribed by the GGDO, Cream will be able to export and sell its production.

Sierra Leone continues to enjoy a peaceful transition from the chaos of the late '90s, with support from British peace-keepers, European Community Agencies and more than 400 NGOs. Recently, Tiffany & Company selected Sierra Leone (Mine Web September 2007) as a source of supply for rough diamonds and signed an exclusive five-year marketing agreement with a UK based AIM listed mining company operating in Sierra Leone. The appearance of increasing numbers of tourists is an additional marker of the progress of the country after the recent peaceful election which has returned a popular new ruling party.

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

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

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

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