Cream Minerals' Nuevo at 54.64 M oz AgEq inferred

2009-02-09 09:28 ET - News Release

Mr. Frank Lang reports

CREAM MINERALS ANNOUNCES SIGNIFICANT UPGRADE TO INFERRED MINERAL RESOURCE ESTIMATE AT NUEVO MILENIO SILVER-GOLD PROJECT, MEXICO

Tonnes: 5,088,000 Au: 1.660 grams per tonne (g/t), Ag: 251.09 g/t, Au: 271,500 ounces, Ag: 41,072,000 silver
equivalent

Cream Minerals Ltd. has filed a revised and updated National Instrument 43-101 report on its flagship 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 stockwork 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.

The mineralized zones occur within a two-kilometre-by-three-kilometre area which is part of a five km target area in close proximity to easily accessible infrastructure. The report investigates the bonanza grade veins (1.20 to four 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 is pleased to present on its 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 $1,021,000 (U.S.) phase 1 exploration and testing program followed by a $2.3-million (U.S.) 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, PEng, geology, director general, Cream Minerals de Mexico SA de CV, and dated Dec. 24, 2008.

Ferdinand Holcapek, PEng, 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.

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