CREAM MINERALS LTD.
Suite 1400 – 570 Granville Street
Vancouver, B.C. V6C 3P1
www.creamminerals.com
February 9, 2009
TSX Venture Exchange Symbol:CMA
U.S. 20-F Registration: 000-29870 CRMXF
Frankfurt Stock Exchange: DFL
WKN: 866036
Cream Minerals Announces Significant Upgrade to Inferred Mineral
Resource Estimate at Nuevo Milenio Silver – Gold Project, Mexico
February 9, 2009, Vancouver, BC - Cream Minerals Ltd. (CMA - TSX-V) ("Cream" or the “Company”) is pleased to announce that Cream has filed a revised and updated NI 43-101Report on its flag ship project, the Nuevo Milenio Silver – Gold property, Nayarit State, Mexico detailing a significant high grade Silver - Gold Inferred Mineral Resource. The Report outlines an Inferred Mineral Resource of 54,647,000 ounces silver equivalent (50:1) contained within 5,087,754 tonnes of mineralized resource material.
The detailed report focuses on the Dos Hornos, Veta Tomas, Once Bocas Areas, three epithermal Silver-Gold veins and stock work systems where the majority of diamond drilling to date has been completed. Reference is also made to Mineral Target areas which have had insufficient exploration to allow resource estimates.
Upgraded Silver – Gold Inferred Mineral Resources
| | | | | | |
Dos Hornos (U/G) | Width m | Tonnes | Au g/t | Ag g/t | Au oz | Ag oz |
Dos Hornos Segment 1 | 4.70 | 1,173,901.56 | 1.500 | 165.34 | 59,400.00 | 6,552,238.85 |
Dos Hornos Segment 2 | 4.06 | 746,528.32 | 1.770 | 201.95 | 42,390.25 | 4,847,215.70 |
Veta Tomas | 5.09 | 1,246,162.50 | 1.280 | 351.19 | 51,344.17 | 14,070,467.48 |
Once Bocas | 2.42 | 1,921,162.50 | 1.920 | 252.59 | 118,347.79 | 15,602,012.74 |
Total | | 5,087,754.88 | 1.660 | 251.09 | 271,482.21 | 41,071,934.77 |
Tonnes: 5,088,000 Au: 1.660 g/t, Ag 251.09 g/t Au: 271,500 oz, Ag: 41,072,000
Silver Equivalent (Gold -- Silver price Ratio = 50:1): 54,647,000 oz (assumes 100% recovery)
The mineralized zones occur within a 2 km x 3 km area which is part of a 5 km target area in close proximity to easily accessible infrastructure. The report investigates the Bonanza-Grade Veins (1.20 to 4 m wide) and the wider disseminated deposits (Once Bocas up to 100 metres wide) as well as other targets. Numerous graphs of drill intercepts and bar charts of Gold-Silver ratios and cut-off grades are displayed.
Cream Minerals Ltd. is pleased to present on its websitewww.creamminerals.com the revised NI 43-101 Report which displays a significant increase in average Silver – Gold grades due to an increase in cut-off grade and a reduction in mining widths, while maintaining the ultimate target sizes.
The report recommends a US $1,021,000 Phase 1 exploration and testing program followed by a US $2,300,000 Phase 2 program consisting of 8,000 m diamond drilling, geophysical surveys and general exploration for the Once Bocus - Cerro Chacuaco Area.
The report entitled “Revised Evaluation Dos Hornos and Veta Tomas Gold-Silver Structures, Nuevo Milenio Project” was written by Ferdinand Holcapek, P.Eng. Geology, Director General, Cream Minerals de Mexico, S.A. de C.V., and dated December 24, 2008.
A Panoramic View of the Nuevo Milenio mineralized structures, which outlines the three main areas of Mineralization as well as additional defined areas of mineralization extending over a 5 km distance can be seen in the following graphic.
![[newsrelease0209001.jpg]](https://capedge.com/proxy/6-K/0001137171-09-000161/newsrelease0209001.jpg)
Mr. Ferdinand Holcapek, P. Eng., Director and Administrator General, Cream Minerals De Mexico, SA de CV, supervises exploration programs on the Nuevo Milenio Project. He is responsible for all technical reporting and is the Company's "Qualified Person" for the purpose of National Instrument NI 43-101.
Cream Minerals is primarily a silver-gold exploration company with properties in Mexico and Canada. The Company’s flag ship project is the Nuevo Milenio Silver-Gold property located in Nayarit State Mexico. The Nuevo Milenio contains a significant NI 43-101 compliant silver equivalent inferred mineral resource. To learn more about Cream Minerals or view a recent Resource World article on the Company please click herewww.creamminerals.com
Gold Comex Continuous Contract February 6 2009
$USD 911.45
Silver Comex Continuous Contract February 6, 2009
$USD 13.10
Silver Gold Ratio February 3, 2009
69:1
For further information, please contact:
Frank A Lang, BA, MA, P.Eng.
Chairman
Michael E. O’Connor
President & CEO
Robert Paul, Investor Relations
Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free: 1-888-267-1400
Email:info@creamminerals.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release. Management has prepared this release and no regulatory authority has approved or disapproved the information contained herein.
Cautionary Language and Forward-Looking Statements
This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company 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, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's filings that are available atwww.sedar.com or the Company's website atwww.creamminerals.com.