Cream Minerals, Sultan Minerals and Valgold Resources Expand their Manitoba Nickel Property.

VANCOUVER, British Columbia -- Sultan Minerals Inc., Cream Minerals Ltd. (TSX VENTURE:CMA) (OTCBB:CRMXF) and ValGold Resources Ltd. (the "Optionees") have jointly entered into an agreement (the "Agreement") with 4378831 Manitoba Ltd. (the "Optionor") to option two (2) staked claims namely the Trout and Trout 1 claims located approximately 130 km east of Gillam, Manitoba (the "Trout Claim Group") and encompassing an area of 256 hectares. The Trout Claim Group is contiguous with and encompassed by the Stephens Lake Claim Group, which is held by the Optionees and currently under option to BHP Billiton (Press Release February 9, 2004).

Under the terms of the Agreement the Optionees have agreed to make total cash payments of $110,000 and issue 200,001 common shares (66,667 shares in the capital of each of Cream Minerals Ltd., Sultan Minerals Inc., and ValGold Resources Ltd.) to the Optionor over a 36-month period from the date of regulatory and Board approval (collectively, "Regulatory Approval") of the Agreement. In addition, the Optionees must also incur exploration expenses and activities of no less than $5,000 within one year following Regulatory Approval, $50,000 cumulative prior to the second anniversary of Regulatory Approval and $250,000 cumulative prior to the third anniversary of Regulatory Approval.

In exchange for the above cash and share payments, and upon completion of the above exploration expenditures and activities, the Optionees will be vested with 75% right, title and interest in and to the Trout Claim Group.

Upon the vesting of the 75% interest as set out above, the Optionees and the Optionor shall enter into a 75:25 Joint Venture for the further exploration and development of the Trout Claim Group. The Optionees shall be entitled to be Operator of the Joint Venture so long as its interest remains greater than 50%. The Optionor shall be deemed to have exploration expenditures equivalent to 25% of the exploration expenditures incurred by the Optionees on formation of the Joint Venture. Should either party elect not to participate or be unable to participate in further exploration of the Trout Claim Group, its interest shall decrease such that at all times the interest of each party shall be that percentage which is equivalent to its exploration costs expressed as a percentage of the exploration costs of both parties. If either party's interest drops to or below 10%, such party (the "Converted Party"), shall have its interest converted to a 2% NSR (Net Smelter Return Royalty) for metals and a 2% GOR (Gross Overriding Royalty) for other commodities such as diamonds. The party retaining an interest greater than 10 % shall have the right to reduce both the NSR and GOR payable to the Converted Party to 1% each by the payment of $1,000,000 to the Converted Party at any time up to and including the commencement of commercial production. In the event that the Optionees should enter into an agreement with respect to the exploration and development of the Property with a bona fide third party major mining company the respective ownership interests in the Property of the Optionor and the Optionees will be reduced on a pro rata basis.

No common shares will be issued as bonuses, finder's fees or commissions in connection with this transaction. The common shares issued pursuant to the Agreement have a four-month hold period expiring four months from the date of each issuance.

The Stephens Lake - Trout Claim Group is 75 kilometres in length and is situated 100 kilometres east of Gillam, Manitoba. The property is entirely covered by unconsolidated tills, alluvial sediments and a thin veneer of Paleozoic sediments, below which the geology is believed to consist of rocks belonging to the extension of the Thompson Nickel Belt. The Thompson Nickel Belt is one of the most important nickel producing regions in the world with production plus reserves in excess of 170 million tonnes.

In February the Optionees entered into an agreement with BHP Billiton, whereby BHP Billiton has been granted the option to acquire an initial 51% undivided interest in the Stephens Lake property and subsequently, an additional 19%. BHP Billiton is currently flying magnetic and electromagnetic surveys over the expanded property. This work is expected to generate targets for diamond drill testing.

Frank A. Lang, P.Eng., President

No regulatory authority has approved or disapproved the information contained in this news release.