| ||Tue Mar 14, 2006|
Cream Minerals Announces 2,000,000 Unit Private Placement
| ||Cream Minerals Ltd. (CMA-TSX-V) ("Cream") is pleased to announce that, subject to regulatory approval, it will carry out a non-brokered private placement of up to 2,000,000 units (the "Units") at a price of $0.30 per Unit, for gross proceeds of up to $600,000. Each Unit is comprised of one common share in the capital of Cream and one-half of one non-transferable share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional common share of Cream for a period of 24 months from closing, at an exercise price of $0.40 per share. An Insider of Cream is subscribing for 100% of the private placement.|
All shares, warrants and any shares issued upon exercise of the warrants with respect to the above private placements are subject to a hold period and may not be traded for four months from the date of issuance. Proceeds from the non-brokered private placement will be used to fund Cream's work programs in Mexico and Sierra Leone, and for general working capital.
For more information about Cream and its mineral property interests, please see our website at www.creamminerals.com.
Frank A. Lang, MA, P. Eng.
President & CEO
For further information please contact: Investor Relations
Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free: 1-888-267-1400
No regulatory authority has approved or disapproved the information contained in this news release.
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