Cream Re-Evaluates Silver Bear Zone Kaslo Silver Property, BC.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--June 1, 2004

The Company (OTCBB:CRMXF)(TSX VENTURE:CMA) is pleased to announce that it is currently re-evaluating the Silver Bear Zone of its 100% owned Kaslo Silver Property, located in southeastern British Columbia. From 1997 to 1999 the company completed exploration programs on this historic high grade silver producer, but since 1999 with the downturn in precious metal prices the property has remained dormant. Historic production from 1919-1955 on Silver Bear is reported as 459 tonnes averaging 1723.5 g/t silver and minor gold, lead and zinc (BC Government Minfile 082FNW100). Due to the increase in silver prices of up to 85% over the past year, Cream is planning to conduct a 1500 metre diamond drilling program on the Silver Bear Zone in 2004.

The following table shows chip sample results averaged for 1 metre intervals between 5 and 42 metres in trench T97-11 across the Silver Bear Zone. In all instances at least 2 series of samples were collected, and where bulk sampling was done, 3 series of samples were collected. The table below shows the average grade from all the samples for that interval. Combining the bulk sample results with prior trench chip sampling, a 37 metre wide interval across the width of the mineralization averages 192.3 g/t silver, 1.76% lead and 1.69% zinc. The results illustrate the spotty "nugget" effect of the silver mineralization in the Silver Bear shear zone.

            TRENCH T97-11 AVERAGE RESULTS

Metres            Ag (g/t)        Pb (%)        Zn (%)
-----------------------------------------------------
5-6                 104.8          0.42          0.35
6-7                 106.5          0.33          0.38
7-8                 104.6          0.32          0.36
8-9                 108.2          0.33          0.37
9-10                567.3          1.62          0.86
10-11               122.4          0.33          0.72
11-12               109.3          0.24          0.49
12-13               310.5          0.46          1.26
13-14               310.5          0.44          1.26
14-15               105.6          0.24          0.46
19-20               303.3          0.84          0.34
20-21               170.2          0.29          0.62
24-25               145.3          2.76          3.36
25-26               144.3          1.53          5.76
26-27               101.0          0.55          5.07
27-28               102.0          0.56          5.08
28-29               101.8          0.58          5.10
29-30               101.5          0.57          5.09
34-35                38.8          0.10          3.69
35-36               500.4          4.41          2.56
36-37               479.4          4.47          2.93
37-38               458.9          4.33          2.92
38-39               468.7          4.43          2.32
39-40               593.3         15.88          2.86
40-41              1328.0         15.30          4.16
41-42                56.9          3.28          0.76

The shear zone is approximately 25 metres wide and up to 300 metres long where sampled. Mineralization is generally confined to hanging wall and footwall veins and also to high-grade pods, lenses and narrow cross veins of silver-lead-zinc running throughout the shear. This strongly graphitic shear at Silver Bear is located within a 7 kilometre long structure that hosts a number of other historic very high grade silver producers. These former producers include Index, Gibson, Gold Cure, and Bismark (also owned by Cream Minerals Ltd.).

                                                Tonnes
Past Producer  Minfile Number  Shipment Years  Shipped  Silver (g/t)
-------------------------------------------------------------------
Silver Bear         082FNW100       1919-1955      459       1723.5
Bismark             082FNW096       1898-1910      868       2862.2
Gibson              082FNW097       1895-1935      613        599.3
Index               082FNW101       1909-1957       20       1967.3
Gold Cure           082FNW185       1909            18       3455.9
-------------------------------------------------------------------

It should be noted that milling was not done on site at these former mines, therefore sorting of the ore would have been standard practice allowing for average production grades to be higher than the average grade of the deposit.

In the fall of 1999, six 50-kg bulk samples were taken at selected locations across the black graphitic Silver Bear shear zone located in the southern portion of the Company's Kaslo Silver Property. Bulk sample sites were picked to allow metallurgical  testing of the various mineralogies and textures found within the shear zone and were processed at International Metallurgical Laboratory in Kelowna. Assay results from the six bulk samples are reported below.

BULK
SAMPLE   DESCRIPTION                         Ag (g/t)   Pb(%)   Zn(%)
--------------------------------------------------------------------
SBT99-1  Graphite shear with pyrite              1.5    0.01    0.11
SBT99-2  Graphite, qtz-cb and pyrite             4.3    0.04    0.17
SBT99-3  Clay-graphite shear with galena       870.0   39.00    3.98
SBT99-4  Graphitic shear with sphalerite       230.0    3.50    7.15
SBT99-5  Graphite-chlorite shear with pyrite     4.0    0.04    0.11
SBT99-6  Graphite-limonite shear and ZnCO3     720.0    0.90    2.92

In 1998, ten diamond drill holes were put in across the Silver Bear shear structure but due to the incompetent nature of the sheared material core recoveries were in the order of 30% leading to inconclusive results. The currently proposed diamond drill program will be done with larger diameter drill core using advanced bit and mud technologies. Permitting is currently underway for this project.

F.A. Lang, P.Eng.

President

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