Cross Lake Minerals Ltd.

Cross Lake Minerals Ltd.

April 05, 2007 09:00 ET

Cross Lake Minerals Ltd.: QR Mine Rehabilitation and Development Proceeding

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 5, 2007) - Cross Lake Minerals Ltd. (the "Company" or "Cross Lake") (TSX:CRN) is pleased to provide this update of operations for the QR Mine Project, which is located approximately 60 kilometers southeast of Quesnel, British Columbia.

Mining and surface operations are ongoing on several fronts all gearing towards the commencement of production at the QR Mine by the third quarter of 2007. The camp and related facilities necessary to support ongoing operations has been in place since January. The Mill rehabilitation is well underway with the crushing circuit and Mill clean up and rehabilitation proceeding on schedule. No serious unforeseen problems have been encountered to date. With respect to hydro power for the site, the one major improvement from the previous operations, the Company has secured the construction of the power line with a $2.1 million letter of credit in favour of BC Hydro and construction of the line is well underway. BC Hydro has confirmed that the line will be energized and available for use by Cross Lake on or before the end of July 2007. "This is a very important milestone as it now allows the Company to clearly identify the timing of the commencement of mine operations," stated Gordon Keevil, President. The selection and acquisition of the necessary equipment for the onsite electrical distribution system and related engineering have also been completed.

As the Mill is being rehabilitated, mining operations are well underway on the North Zone to allow for delineation drilling and development of that Zone. It is now anticipated that the decline will be completed by July and underground drilling will commence thereafter. In addition, the Northwest Zone, which will be the first zone developed, is being prepared for open pit mining. At the West Zone, preparations are underway for the commencement of underground development. This represents the one major change on the mining plan from the Technical Study on the feasibility of operations of the QR Mine by Wardrop Engineering ("Wardrop") dated April 2006. This change will result in an improvement in overall performance of the Mine and much less surface disturbance and related reclamation. Cross Lake has commissioned Wardrop to update the Technical Report, which is now being finalized. The QR Project is being supervised by Mr. Ross Hollinger who is the designated Qualified Person and Mine Manager.

"We are all very pleased with the progress our mine team has made to date at the QR Site and would like to commend their efforts. The recently announced financing will allow the development of the QR to proceed and also provide the funding to continue an aggressive drilling program on the Porcher Island Property, the second property in British Columbia with a historic resource that the Company intends to delineate, expand and, if justified, proceed towards a development and production decision," stated Mr. Keevil, President.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at for further information.

12(g) No. 82-2636

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