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

Cream Minerals Ltd.

July 16, 2007 09:30 ET

Cream Minerals Reports Diamond Drill Summary on Nuevo Milenio Property, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 16, 2007) - Cream Minerals Ltd. ("Cream") (TSX VENTURE:CMA)(OTCBB:CRMXF)(FRANKFURT:DFL) (WKN 866036) (www.finanztreff.de) is pleased to provide a progress report on its 100% owned Nuevo Milenio property, near Tepic, Nayarit State, Mexico. In a report dated July 6, 2007, Mr. Fred Holcapek, P.Eng., reported the following:

Diamond drilling in 2007 concentrated along the southeast section of the Dos Hornos Zone 1 from Trench 4 to south of Mina San Miguel as shown in the attached maps. A total of 29 diamond drill holes for a total of approx. 5,200 m along the Dos Hornos Zone 1 were completed. The balance of assays for DDH 21-06, DDH 22-06 and all of DDH 07-23 have been received.

Below is a summary of all drill holes (which includes 2003 drilling) with available assays from Trench 3 to 370 m southeast of Mina San Miguel, a distance of approximately 950 meters:



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Description Sample From To m feet Au g/t Ag g/t
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DDH 11 - 03 (Trench 3 Area)
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Vein 1 199012 28.00 30.00 2.00 6.56 0.222 68.00
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Vein 2 HW of
Fault 199024 52.00 54.00 2.00 6.56 0.778 124.00
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DDH 01 - 03 (Trench 3 Area)
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HW of Fault 104017 0 2.00 2.00 6.56 2.945 144.00
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FW of Fault 104017 to 139 192.00 198.00 6.00 19.68 0.299 92.97
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Including 104139 196.00 198.00 2.00 6.56 0.651 200.00
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DDH 02 - 03 (Trench 3 Area)
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Weighted
Average 104173 0.00 2.00 2.00 6.56 0.845 326.50
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Zone 2 HW of
Fault 104214 to 216 82.00 88.00 6.00 19.68 0.769 79.97
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Including 104216 86.00 88.00 2.00 6.56 1.729 147.00
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DDH 10 - 06 (Trench 4 Area)
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Weighted
Average 296396 to 409 12.50 40.50 20.00 65.60 0.6145 77.82
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Including 296396 to 403 12.50 28.50 16.00 52.48 0.755 86.13
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Including 296396 to 401 12.50 24.50 12.00 39.36 0.926 106.12
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Including 296399 to 401 18.50 24.50 6.00 19.68 1.474 158.17
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Including 296399 to 400 18.50 22.50 4.00 13.12 1.276 216.55
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DDH 11 - 06 (Trench 4 Area)
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Weighted
Average 296431 to 40 11.30 31.30 20.00 65.60 0.550 90.70
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Including 296436 to 40 21.30 31.30 10.00 32.80 0.095 51.02
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Including 296431 to 36 11.30 23.30 12.00 39.36 0.863 123.65
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Including 296431 to 35 11.30 21.30 10.00 32.80 1.005 130.38
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Including 296431 to 33 11.30 17.30 6.00 19.68 1.410 157.83
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Including 296431 to 32 11.30 15.30 4.00 13.12 1.982 211.25
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Zone 2 296447 - 48 43.70 47.50 4.00 13.12 0.173 102.00
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Including 43.70 45.70 2.00 6.56 0.315 153.00
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Zone 3
parallel vein 296455 59.20 61.20 2.00 6.56 10.423 29.30
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DDH 15 - 06 Drill core very oxidized
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Weighted
Average 295526 to 33 82.10 97.00 14.90 44.28 0.322 59.52
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Including 295529 to 33 87.00 97.00 10.00 32.80 0.394 82.58
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Including 295529 to 31 87.00 93.00 6.00 19.68 0.603 119.90
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Including 295529 to 30 87.00 91.00 4.00 13.12 0.827 159.75
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Including 295530 89.00 91.00 2.00 6.56 0.934 221.50
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DDH 16 - 06 Drill core very oxidized
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Weighted
Average 295561 to 63 73.50 79.20 5.70 18.70 0.694 83.98
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Including 295561 to 62 73.50 77.20 3.70 12.14 0.847 116.29
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Including 295561 73.50 75.50 2.00 6.52 0.800 206.30
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DDH 20 - 06 150 m north of Mina San Miguel
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Weighted
Average 295675 to 81 145.30 158.80 13.50 44.28 1.031 97.35
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Including 295676 to 80 148.80 158.80 10.00 32.80 1.376 130.52
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Including 295676 to 80 148.80 156.80 8.00 26.24 1.662 160.88
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Including 295676 to 77 150.80 156.80 6.00 19.68 1.942 194.16
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Including 295676 to 80 152.80 156.80 4.00 13.12 2.521 261.25
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Including 295678 152.80 154.80 2.00 6.56 3.703 334.50
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DDH 21 - 06 Core set up below DDH 20 - 06.
Faulted segment gouge, crushed quartz vein
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Weighted
Average 295699 - 702 202.00 208.00 6.00 19.68 0.158 33.37
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Including 295699 - 700 202.00 206.00 4.00 13.12 0.155 42.60
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Including 295699 206.00 208.00 2.00 6.56 0.190 51.00
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DDH 18 - 06 Tested Mina San Miguel at depth
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Weighted
Average 295611 to 15 91.20 101.20 10.00 32.80 0.798 88.36
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Including 295611 to 14 91.20 99.20 8.00 26.24 0.959 107.20
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Including 295611 to 13 91.20 97.20 6.00 19.68 1.223 140.07
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Including 295611 to 12 91.20 95.20 4.00 13.12 1.783 203.20
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DDH 19 - 06 Cut the quartz zone below Mina Santa Gertrudis,
faulted crushed quartz, no significant assays.
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DDH 19 - 03 Mina San Miguel southeast of DDH 18-06
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Weighted
Average 182579 to 84 34.00 46.00 12.00 39.36 0.310 74.12
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Including 182581 to 84 38.00 46.00 8.00 26.24 0.410 102.88
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Including 182581 to 82 38.00 44.00 4.00 19.68 0.500 154.50
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Including 18282 40.00 42.00 2.00 6.56 0.670 182.00
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DDH 22 - 06 Quartz vein from 96.00 to 103.00 m, faulted, brecciated with
minor base metals, oxidized, no significant value.
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Note: DDH numbering change after Hole DDH 22-06.

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DDH 07 - 23 High-grade
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Weighted
Average 295758 - 60 78.6 82.6 6.00 19.68 1.706 525.73
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Including 295758 - 59 78.6 82.6 4.00 13.12 2.438 771.20
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Including 295759 80.6 82.6 2.00 6.56 4.35 1,388.40
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Major amounts of pyrite varying in colour from black to brass yellow to silvery, occur as disseminations, fracture filling and veinlets. Amounts range from 1% to 30%, limonite and hematite. Free gold was observed with pyrite.



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DDH 07 - 24 & 25 Results pending.
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DDH 07 - 26, 27, 28 & 29 Logged and shipped during the last week of
June for assaying.
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Alteration assemblages associated with the quartz veins and quartz stock work in the SE segment are epithermal but of the higher temperature variety. Along the mineralized section alteration of the wall rock is argillic, sericite, secondary feldspar, chlorite - epidote (propylithic) and silica flooding with or without chalcedony and calcite replacement in places. Faulting, brecciation and micro brecciation is common and extensive. The rocks are very porous and have abundant open spaces and cavities.

Several drill holes cut ash tuffs with silica flooding showing sulphides as dissemination and veinlets. At this time, we do not know if there is a change in grade associated with these ash tuffs.

Mr. Ferdinand (Fred) Holcapek, P. Eng., is supervising exploration programs on the Nuevo Milenio Property and is the Company's "Qualified Person" for the purpose of National Instrument 43-101. Mr. Holcapek is responsible for the technical information contained in this news release.

For more information, including 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

To view the accompanying maps please click on the following link: http://www.ccnmatthews.com/docs/cma_map.pdf

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

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