CREAM MINERALS LTD.
#1400 – 570 Granville Street
Vancouver, B.C. V6C 3P1
www.creamminerals.com
September 18, 2007
TSX Venture Exchange Symbol: CMA
U.S. 20-F Registration: 000-29870
Frankfurt Stock Exchange: DFL
CREAM MINERALS ADDS NEW COBALT DISCOVERY TO NICKEL
ON WINE NICKEL–COPPER PROPERTY - MANITOBA
Following further assaying of diamond drill core (Radar 07 – 01) at the Wine Nickel – Copper property, located south east of Flin Flon, Manitoba (see previous News Release dated July 19, 2007), Cream Minerals Ltd. (TSXV – CMA) is pleased to report the addition of a significant occurrence of Cobalt averaged about 0.05% (one pound/ton) Cobalt for the entire sulfide intersection length of 66.8 ft (true width 43.6 ft) which also averaged 2.27% Cu, 1.30% Ni, 0.319g/t Au, 0.132g/t Pt and 0.270g/t Pd.
Mr. Frank Lang, President and CEO of Cream Minerals stated “With Cobalt presently priced at US$26.00 per pound, this unexpected discovery, in addition to the presence of gold, platinum and palladium, may cover many of the future mining and milling costs should an economic deposit be developed. We are very pleased with the mineralization that we are seeing at the Wine Property, especially of the high - grade Nickel and Copper. Plans are in place to expand drilling in 2008 to further define the size of the potential resource.
A review of recent and earlier diamond drill results suggests that the main mineralized Nickel-Copper zone is localized within rhyolite where gabbro intruded the volcanic units. The Cu-Ni mineralization appears to plunge towards the south-east where an earlier drill hole Eel 301 drilled 1200 ft SE by Hudson Bay Exploration and Development Company Ltd. (“HBED”) in 1982 cut numerous sections two to 12 ft wide assaying low grade (0.1 % to 0.2%) Copper. Nickel and PGE‘s were not assayed for this hole, Eel 301.
After the freeze up at Flin Flon, plans are to complete a Down Hole Pulse Electro-Magnetic geophysical survey, followed by a deep electromagnetic survey to locate the intrusive rhyolite contact, as a guide to future diamond drilling.
| | | | | | | | | | |
Radar 07 – 01, May 2007, Drilled to confirm results of previous drilling |
Sample# | from ft | to ft | width ft | width m | Au g/t | Cu % | Ni % | Co % | Pt g/t | Pd g/t |
860601 | 57.40 | 58.80 | 1.40 | 0.43 | 1.080 | 3.10 | 0.14 | 0.01 | 0.015 | 0.200 |
860602 | 172.50 | 173.30 | 0.80 | 0.24 | 0.040 | 0.39 | 2.67 | 0.07 | 0.015 | 0.280 |
| | | | | | | | | | |
860603 | 182.60 | 184.80 | 2.20 | 0.67 | 0.080 | 0.41 | 0.42 | 0.02 | 0.000 | 0.065 |
860604 | 184.80 | 186.40 | 1.60 | 0.49 | 0.080 | 0.13 | 0.08 | <0.01 | 0.030 | 0.070 |
860605 | 186.40 | 189.40 | 3.00 | 0.91 | 0.110 | 0.40 | 1.01 | 0.04 | 0.045 | 0.250 |
860606 | 189.40 | 192.20 | 2.80 | 0.85 | 0.050 | 0.65 | 1.25 | 0.05 | 0.025 | 0.055 |
860607 | 192.20 | 193.90 | 1.70 | 0.52 | 0.890 | 2.69 | 0.00 | 0.04 | 0.040 | 0.055 |
860608 | 193.90 | 195.00 | 1.10 | 0.34 | 1.750 | 18.10 | 0.52 | 0.02 | 0.060 | 0.150 |
860609 | 195.00 | 198.30 | 3.30 | 1.01 | 0.390 | 0.62 | 1.62 | 0.07 | 0.130 | 0.180 |
860610 | 198.30 | 200.90 | 2.60 | 0.79 | 0.150 | 2.68 | 1.92 | 0.07 | 0.350 | 0.330 |
860611 | 200.90 | 203.70 | 2.80 | 0.85 | 0.030 | 0.33 | 2.48 | 0.09 | 0.450 | 0.530 |
860612 | 203.70 | 207.00 | 3.30 | 1.01 | 0.280 | 3.48 | 1.73 | 0.06 | 0.350 | 0.510 |
860613 | 207.00 | 209.00 | 2.00 | 0.61 | 0.070 | 0.72 | 2.67 | 0.11 | 0.510 | 0.250 |
860614 | 209.00 | 212.60 | 3.60 | 1.10 | 0.390 | 7.76 | 1.44 | 0.06 | 0.270 | 0.570 |
860615 | 212.60 | 213.90 | 1.30 | 0.40 | 0.070 | 0.18 | 0.13 | <0.01 | 0.020 | 0.040 |
860616 | 213.90 | 215.60 | 1.70 | 0.52 | 1.170 | 3.02 | 0.35 | 0.02 | 0.340 | 0.230 |
860617 | 215.60 | 217.30 | 1.70 | 0.52 | 0.040 | 0.16 | 0.03 | <0.01 | 0.020 | 0.010 |
860618 | 217.30 | 220.50 | 3.20 | 0.98 | 0.150 | 1.99 | 1.46 | 0.06 | 0.060 | 0.320 |
860619 | 220.50 | 224.70 | 4.20 | 1.28 | 0.030 | 0.05 | 0.11 | 0.05 | 0.015 | 0.010 |
860620 | 224.70 | 227.00 | 2.30 | 0.70 | 0.240 | 5.60 | 1.25 | 0.06 | 0.210 | 0.150 |
860621 | 227.00 | 230.10 | 3.10 | 0.95 | 0.560 | 3.77 | 1.45 | 0.06 | 0.045 | 0.180 |
860622 | 230.10 | 233.70 | 3.60 | 1.10 | 0.065 | 1.39 | 1.36 | 0.08 | 0.110 | 0.120 |
860623 | 233.70 | 237.00 | 3.30 | 1.01 | 1.610 | 1.33 | 2.07 | 0.09 | 0.260 | 0.250 |
860624 | 237.00 | 240.10 | 3.10 | 0.95 | 0.110 | 1.47 | 2.28 | 0.09 | 0.270 | 0.400 |
860625 | 240.10 | 242.90 | 2.80 | 0.85 | 0.230 | 3.25 | 2.24 | <0.01 | 0.330 | 0.710 |
860626 | 242.90 | 246.20 | 3.30 | 1.01 | 0.055 | 0.20 | 0.15 | 0.08 | 0.015 | 0.035 |
860627 | 246.20 | 249.40 | 3.20 | 0.98 | 0.340 | 3.72 | 2.04 | 0.04 | 0.020 | 0.760 |
Weighted average | 182.60 | 249.40 | 66.80 | 20.37 | 0.319 | 2.27 | 1.304 | 0.054 | 0.132 | 0.270 |
The following are assays from HBED drilling:
| | | | | | | | | | |
| | | | | | Pt +Pd | |
Sample# | from ft | to ft | width ft | Width m | Au g/t | Cu % | Ni % | Co % | oz/ton | |
Eel 301 | 1200 ft SE of Eel 346 | | | | | | | | |
1983 | Low grade Cu, (Ni and PGE were not assayed) | - | 0.10 | - | - | - | |
| | | | | | | | | | |
Eel - 302 | 172.40 | 173.20 | 0.80 | 0.24 | - | 5.75 | - | - | - | |
1983 | 177.00 | 190.00 | 13.00 | 3.96 | - | 0.69 | 1.12 | - | 0.009 | |
| 190.00 | 211.90 | 21.90 | 6.68 | - | 1.09 | - | - | - | - |
Eel - 315 | | | | | | | | | | |
1984 | 225.50 | 226.00 | 0.50 | 0.15 | 3.700 | 3.08 | 1.2 | - | - | |
Eelo - 346 | | | | | | | | | | |
1987 | 182.00 | 182.40 | 0.40 | 0.12 | - | 16.10 | 0.43 | - | 0.040 | |
| 177.00 | 231.00 | 54.00 | 16.46 | - | 1.42 | 0.85 | - | - | |
| 195.40 | 216.30 | 20.90 | 6.37 | <0.01 | 1.52 | 1.67 | - | <0.01 | |
| 208.10 | 216.30 | 8.20 | 2.50 | - | 1.47 | 2.06 | - | 0.020 | |
| 229.40 | 231.00 | 1.60 | 0.49 | - | 13.10 | 1.44 | - | 0.030 | |
As noted in our July 19, 2007, news release, assaying and sample preparation for Radar 07 – 01 drill core was completed at TSL Laboratories in Saskatoon using multi-acid digestion and Atomic Absorption procedures.
Mr. Anthony J. Spooner, P. Eng. of A. J. Spooner Exploration Services Inc, Flin Flon, Manitoba, is the Manager and Qualified Person responsible for the NI 43 – 101 on the Wine Radar Lake Property.
Please Note:Cream Minerals’ Annual General Meeting will be held this Friday, September 21, 2007 at 1:30 PM in the Four Seasons Hotel, Georgia and Howe Streets, Vancouver, Canada.
For further information on the Company's projects, visitwww.creamminerals.com.
Frank A. Lang, BA, MA, P.Eng.
President and CEO
For further information, please contact:
Robert Paul, Investor Relations
Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free: 1-888-267-1400
Email:info@creamminerals.com
or
Linda Armstrong, Vice President
CHF Investor Relations
Phone: (416) 868-1079, Ext. 229
Email: Linda@chfir.com
Should you wish to receive Company news via email, please emailcatarina@chfir.com and specify “Cream Minerals Ltd.” in the subject line or contact the Company directly.
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.
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.
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