Cross Lake Minerals Ltd.

Cross Lake Minerals Ltd.

October 24, 2005 17:40 ET

Cross Lake Minerals Ltd.: Corporate Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 24, 2005) - Cross Lake Minerals Ltd. (the "Company") (TSX:CRN) wishes to announce that it has received approval from the Toronto Stock Exchange to extend the expiry date and amend the exercise price of an aggregate of 850,000 outstanding common share purchase warrants (the "Warrants") which were originally issued on October 26, 2004, at an exercise price of $0.22 and were due to expire on October 26, 2005. The new expiry date of the Warrants is October 26, 2006 and the new exercise price is $0.10 per common share. The Warrant-holders are arm's length to the Company.

Certain statements contained in this document, including statements regarding events and financial trends that may affect our future operating results, financial position and cash flows, may constitute forward-looking statements within the meaning of the federal securities laws. These statements are based on our assumptions and estimates and are subject to risk and uncertainties. You can identify these forward-looking statements by the use of words like "strategy", "expects", "plans", "believes", "will", "estimates", "intends", "projects", "goals", "targets", and other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. We wish to caution you that such statements contained are just predictions or opinions and that actual events or results may differ materially. The forward-looking statements contained in this business plan are made as of the date hereof and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements. Where applicable, we claim the protection of the safe harbor for forward-looking statements provided by the (United States) Private Securities Litigation Reform Act of 1995.

12(g) No. 82-2636

Contact Information

  • Cross Lake Minerals Ltd.
    Gordon A. Keevil
    (604) 687-2038
    (604) 687-3141 (FAX)
    Tangent Management Corp.
    Investor Relations
    (604) 642-0115