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 website www.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.
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 here www.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
at www.sedar.com or the Company's
website at www.creamminerals.com.