| ||Tue Mar 21, 2006|
Cream Minerals Completes 2,000,000 Unit Private Placement
| ||Cream Minerals Ltd. (CMA-TSX-V) (the "Company") has completed its previously announced non-brokered private placement of 2,000,000 units (the "Units") at a price of $0.30 per Unit, for gross proceeds of $600,000. Each Unit is comprised of one common share in the capital of the Company and one-half of one non-transferable share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one additional common share of the Company for a period of 24 months, expiring March 21, 2008, at an exercise price of $0.40 per share. An Insider of the Company subscribed for 100% of the private placement.|
There were no finders' fees or commissions payable in relation to 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 expiring July 22, 2006. Proceeds from the non-brokered private placement will be used to fund the Company's work programs in Sierra Leone and Mexico, and for general working capital.
For more information about Cream Minerals Ltd. and its mineral and diamond projects, please see our website at www.creamminerals.com.
Frank A. Lang, MA, P. Eng.
President & CEO
For further information please contact:
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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