Cream Minerals Ltd. announced the completion of four preliminary Metallurgical Tests. The tests were conducted by Inspectorate America Corporation on samples derived from Nuevo Milenio. The best results were obtained by a combination of Flotation with one cleaning circuit followed by cyanidation of the flotation tailings producing a recovery of 94% for gold and 90% for silver. These are very encouraging test results and indicate the probability of very high gold and silver recovery rates for Nuevo Milenio. The purpose of the tests was to obtain initial results on gold and silver recovery on samples obtained from Nuevo Milenio and to establish parameters for further detailed metallurgical tests. The samples were taken from fresh and partially oxidized mineralized zones at Nuevo Milenio. Test materials were collected from historical Spanish workings on Dos Hornos 1 (cross-cut adit 4, Shaft 5 Sublevel 3), Veta Tomas (Shaft 12) and Once Bocas (Stope). The samples were shipped to Inspectorate America Corp., Exploration & Mining Services, PRA Metallurgical Division of Richmond, B.C., Canada, which conducted the metallurgical tests. Additional tests are required to determine the effect of a Gravity circuit on total gold recovery and to reduce retention time in the Cyanide leach circuit and/or enhance gold recovery in the flotation tests. Further tests would include a second or third cleaning circuit in the flotation test to increase silver recovery and a gravity circuit to scalp off coarse gold. These adjustments may be sufficient to upgrade gold and silver recovery to an acceptable level without the Cyanidation of flotation tailings. The Leach results are based on a 72 hour leach cycle from composite underground channel samples. The average particle size was 80% at 72 micrometers (passing 200 mesh screen). The average consumption of Cyanide (NaCN) was 0.92 kg/ton and average consumption of Lime was 1.68 kg/t.

Cream Minerals Ltd. announced that historical exploration programs conducted on behalf of Casierra Diamond Corporation and its wholly-owned subsidiary, Casierra Development Fund Inc. (collectively, Casierra) and more recently Cream Minerals identified heavy minerals and some rare earths in the beach sands and near shore marine sediments contained within the Company's Offshore Exploration Concession, Sierra Leone. The off shore alluvial deposits targeted by Cream Minerals offer a potentially low capital cost opportunity to develop a possible industrial scale source of new gem quality diamond production together with a heavy minerals co-product. The heavy minerals are referenced by the Geological Survey of Sierra Leone in a map compiled by The Council for Geoscience of South Africa. In addition the Geological Survey of Sierra Leone references heavy minerals in the long shore beach sands adjacent to the offshore area of the license. Also reports summarizing exploration work and laboratory tests conducted by the Malaysia Mining Corporation (MMC) on behalf of Casierra in 1996 and filed with the Sierra Leone Mines Department indicate heavy minerals concentrations. They include zircon, ilmenite, rutile and monazite (a source of rare earths) which occur in the offshore sediments associated with diamonds.

Cream Minerals Ltd. has announced that its application for a 1 year extension to the 88 square kilometre (km) offshore diamond license in Southeast Sierra Leone has been granted by the Government of Sierra Leone. The company is planning additional work to define the alluvial diamond deposits and is seeking a joint venture partner to help advance the project.