Cream Minerals Ltd. Announces Plans for Diamond Drilling at Manitoba Nickel Project.

VANCOUVER, British Columbia -- Cream Minerals Ltd. (OTCBB:CRMXF)(TSX VENTURE:CMA), Sultan Minerals Inc. (TSX VENTURE:SUL) and ValGold Resources Ltd. (TSX VENTURE:VAL) (the "Optionees") are pleased to report that BHP Billiton Diamonds Inc. ("BHP Billiton") has advised that diamond drilling is scheduled to commence in mid-February on their joint Stephens Lake nickel property in Manitoba. The drill program, to be carried out by Boart Longyear Drilling Services, is expected to be completed by the end of March. The program will involve a minimum of 1,000 metres of NQ diamond drilling on four high-priority airborne geophysical targets on the 170,000-hectare property. Two additional targets involving a minimum of 500 metres of NQ core will be drill tested on the adjacent Big Claim Property under option to BHP Billiton from ValGold Resources Ltd.

The 75 kilometre long Stephens Lake Property is situated 100 kilometres east of the community of Gillam, Manitoba and overlies a stratigraphic package believed to be an extension of the Thompson Nickel Belt. The Thompson Nickel Belt held by Inco is one of the most important nickel producing regions in the world with production plus reserves in excess of 170 million tonnes at an estimated grade of greater than 2.0% nickel equivalent. The Stephens Lake property is held jointly by Sultan Minerals Inc., Cream Minerals Ltd. and ValGold Resources Ltd. and is under option to BHP Billiton Diamonds Inc. whereby BHP Billiton may acquire an initial 51% interest and ultimately a 70% interest in the property (see News Releases of February 9, 2004 and April 19, 2004).

In March, 2004 BHP Billiton flew a large airborne magnetics survey over the property in order to identify potential ultra-mafic targets. Several bodies of interest were defined during the aeromagnetic survey. In June, 2004 the magnetic targets were followed up with a VTEM helicopter electromagnetic survey to search for targets that might host conductive nickel-sulphide mineralization. The VTEM survey defined an extensive, stratigraphic package of linear coincident electromagnetic and magnetic features. As Ni-Cu-PGE mineralization is commonly both magnetic and conductive, this package of rocks was considered a prime exploration candidate for these metals. The targets chosen for diamond drill testing were selected along this trend where structural complexities and more intense geophysical responses were apparent.

For more information about Cream Minerals Ltd. and its mineral property interests, please see our website at www.creamminerals.com.

Frank A. Lang, BA, MA, P. Eng., President & CEO 

U.S. 20-F Registration: 000-29870

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

Cream Minerals Ltd. (TSX VENTURE:CMA) (OTC Bulletin Board:CRMXF)

Sultan Minerals Inc. (TSX VENTURE:SUL)