Thomson Reuters



* Chairman says Endeavour bid too low

* Cream board recommends accepting the offer

* Endeavour offer expires Dec. 6

TORONTO, Dec 1 (Reuters) - The largest shareholder of Cream
Minerals , which owns the Nuevo Milenio silver and gold
project in Mexico, said on Wednesday that a C$14 million ($13.7
million) takeover offer from Endeavour Silver is too
low, and he will not tender his shares.

Frank Lang, Cream's non-executive chairman and a holder of
about 24 percent of its stock, urged other shareholders to
follow suit and to consider alternatives to the offer of 14
Canadian cents a share from Endeavour, which produces gold and
silver from Mexican mines.

"We think an offer of 14 cents a share is ridiculous," Lang
told Reuters by telephone, adding that the value of the company
is "considerably higher". He said other shareholders support
his view, including another director, Ferdinand Holcapek, with
3.54 percent.

He said he was acting independently, however, in expressing
his opposition to the deal.

The Endeavour offer is open to shareholders until Monday,
and the company said on Wednesday the Cream board had approved
the bid.

Endeavour wants to acquire Cream to get the Nuevo Milenio
project in Western Mexico, which is estimated to hold some 52.2
million ounces of silver and 375,000 ounces of gold.

Endeavour originally offered 12 Canadian cents a share in
September before raising the bid to 14 cents.

Also on the table is a joint venture offer from Minco
Silver to help Cream develop the Nuevo Milenio mine.

Cream shares closed unchanged at 16 Canadian cents on
Wednesday. Endeavour rose 2.2 percent to close at C$6.52.
(Reporting by Pav Jordan in Toronto; editing by Rob Wilson)