Bream and CITIC Metal Enter Into a Strategic Cooperative Agreement.

VANCOUVER, British Columbia -- Bream Ventures Inc. (OTCBB:BRMV) and CITIC Metal Ltd. ("CITIC Metal"), a subsidiary of China International Trust and Investment Corporation ("CITIC"), have entered into a strategic cooperative agreement with respect to the identification and acquisition of interests in mining properties located in China (the "Agreement"). Bream is a developmental mining and metal company focused on exploring for silver and developing mines in China.

CITIC, established in 1979 with the initiation and approval of Deng Xiaoping, chief architect of China's reform, is a large transnational conglomerate with 44 subsidiaries located on the Chinese mainland, Hong Kong and in other parts of the world. CITIC's core businesses include finance, energy, manufacturing, real estate and telecommunications. CITIC Metal is one of the few licensed silver importers and exporters in China. CITIC Metal is also involved in the import and export of major metals products such as ferro-niobium, nitrovan ferro-alloy and iron ore.

The Agreement provides that CITIC Metal will identify the silver, lead or mining properties for potential development by Bream or jointly with CITIC Metal. The terms of any joint venture between Bream and CITIC Metal with respect to specific property will be separately negotiated. CITIC Metal will provide the required technical advice and assist with governmental related compliance matters. It will also provide related technical, geological, and other documentation requested by Bream in connection with any investigation and due diligence of the recommended properties. The initial term of the Agreement is for five years.

According to the Silver Institute, China is required to develop and produce significant additional amounts of silver in order to fuel the continued growth in its industrial sectors. The Silver Institute's 2004 survey discloses that China was the fourth largest silver producing country in 2003.

Bream has begun a review of certain properties identified by CITIC Metal pursuant to the Agreement. However, no assurances can be given that any acquisitions will be consummated.

The Agreement gives CITIC Metal the right to appoint a Bream director. Accordingly, Mr. R.X. Xu will be added to the board of directors of Bream. Mr. Xu is a senior economist and currently holds the position of Executive Vice President of CITIC Group CIT-U.I.C. Investment Co. Ltd., ("CITIC Investment") a subsidiary of CITIC. He has been involved in supervising complex civic/real estate projects such as a science and technology park in Zhejiang Province and a hotel complex property in Chongqing Municipality. Mr. Xu has been an officer of CITIC Investment for the last ten years. Prior thereto he was a senior official for the China Coal Mining Association and participated and directed many coal mining projects in Northern China. Mr. Xu has a degree in Business Management.

In addition, Bream intends to appoint Mr. Vincent Joe as a board member. Mr. Joe served as a board member of CIT-U.I.C. Investment Pte. Ltd., Singapore, a subsidiary of CITIC, from 1997-2002. He also was a board member and president of Mchanao Construction Corporation from 2000 to 2002. He also served as an attorney for CITIC in its legal department from 1995-1998. Presently Mr. Joe is a practicing attorney with a law firm in Beijing, China. Mr. Joe has a degree in history from Qufu Normal University and an LLM in international law from Foreign Affairs College. He is a 1997 graduate of the American International Law Program sponsored by the Southwestern Legal Foundation.

Both Messrs. Xu and Joe will serve as consultants to Bream. Mr. Xu will advise Bream on strategic planning and Mr. Joe will serve as the Company's legal counsel in China. With the addition of Messrs. Xu and Joe, Bream has expanded its Board to four members.

Certain statements in this news release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, general economic conditions, competition, interest rate sensitivity, exposure to regulatory and legislative changes and other uncertainties detailed from time to time in the Bream's Securities and Exchange Commission filings.

BREAM VENTURES INC.

Anthony James England, Director