Cream rises on Manitoba nickel intercept (July 19, 2007)

Vancouver – Cream Minerals‘ (CMA-V, CRMXF-O) first test hole on its Wine-Radar Lake property in northern Manitoba looks optimistic after cutting 20.4 metres of 1.3% nickel and 2.27% copper.

The copper-nickel mineralized interval was intersected from 55.7 metres down hole depth in hole RAD07-01. A true width of about 13.3 metres is estimated for section with the hole drilled at a dip of minus 49 degrees.

The intercept also returned 0.32 gram gold per tonne, 0.13 gram platinum per tonne and 0.27 gram palladium per tonne in the rhyolitic unit with disseminated (to near massive in sections) chalcopyrite and pyrrhotite.

The Wine property, located about 60 km southeast of Flin Flon, covers an east-west trending mafic-ultramafic intrusive suite of rocks with base metal and PGM mineralization associated with a contact breccia zone.

Cream drilled a second hole (RAD07-02), collared 70 metres southeast of hole 01, looking for the downward plunge of the mineralization but did not intersect the favourable horizon. It plans to use the hole for a Pulse EM survey.

Past work on the property saw drilling by Hudson Bay Exploration and Development in 1987, returning 16.5 metres of 0.85% nickel and 1.42% copper including a 6.4-metre interval grading 1.67% nickel, 1.52% copper, 0.38 gram platinum and 1.06 grams palladium. It allowed the claims to lapse in 2002.

Cream optioned the claims in early 2006 for cash payment commitments of $100,000, the issuance of 200,000 shares and $20,000 of exploration expenditures over four years. The claimholder has a 2% net smelter return royalty, half of which can be bought back by Cream for $1 million.

Shares of Cream soared on the July 19th drill result news, touching an intraday high of $1.38 apiece before closing up 112%, or 47, at 89 per share on trading volume of 5.7 million shares.