Cross Lake Announces Results of Sheraton-Timmins Drilling.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 1, 1999--

Cross Lake(CDNX:CRN)

Cross Lake Minerals Ltd. (the "Company") is pleased to announce that assay results have been received from the second phase of 1999 diamond drilling on its 100% owned Sheraton-Timmins Property, near Timmins, Ontario. The highlight of the 1,338 metre program was the extension down dip of the zinc-silver mineralization at the northeast end of the Cross Lake Zone thereby enhancing the possibility for open pit exploitation in this area.

Of the five holes drilled, three (CLS99-73, 74 & 75) were successful in expanding the zinc/silver mineralization in the Cross Lake Zone. Additional drilling is definitely warranted in this area in order to further delineate the full extent of this zone. Significant intersections are as follows:

Hole #      From(m)    To(m)   Interval   Zinc(%)    Silver   Lead(%)
                                 (m)                  (g/t)
--------------------------------------------------------------------
CLS99-73     158.0    201.5     43.5        1.12     18.83     0.21

including    158.0    167.0      9.0        2.46     31.50     0.33
and          192.5    200.0      7.5        2.13     36.20     0.53
             225.5    228.5      3.0        3.24      5.90     0.04

CLS99-74      50.0     92.5     42.5        1.66     36.39     0.13

including     50.0     62.0     12.0        2.42     23.58     0.27
and           77.0     92.5     15.5        1.64     63.23     0.08

CLS99-75     206.0    251.0     45.0        1.47     23.16     0.19

including    206.0    215.0      9.0        2.09     25.69     0.34
and          218.0    225.5      7.5        1.74     32.20     0.23
and          245.0    251.0      6.0        2.28      8.85     0.12

Assays continue to be carried out by ASL Chemex of North Vancouver, British Columbia. Drill core is routinely analyzed by ICP AES methods for 32 elements including copper, lead, zinc and silver and by fire assay-AAS procedure for gold. Check assays will be run on selected samples by another independent laboratory.

A drillhole plan, longitudinal section and cross section are available by fax upon request.

Hole CLS99-73 intersected zinc-silver mineralization 45 metres below CLS97-4 and 110 metres northeast of CLS97-16. The zinc mineralization is hosted in a grey felsic tuff with some pyrite-chert affiliation as well as a yellow sericitic tuff containing numerous chert pyrite bands. It has been delineated to a down dip length of 145 metres in this area (refer to cross section). The results indicate there is continuation of the zinc-silver horizon to the east and down dip from CLS99-73 which will require further drilling.

Hole CLS99-74, collared 35 metres east of hole CLS 98-49, was drilled to test the near surface up-plunge of the zinc-silver mineralization previously outlined in the "40" series of holes (CLS98-40 to 49). This hole intersected 42.5 metres (from 50.0 to 92.5 metres) of zinc (sphalerite) mineralization with narrower higher grade sections associated with chert pyrite zones.

Hole CLS99-75 intersected zinc (sphalerite) mineralization 40 metres below CLS97-21 and 30 metres east of CLS97-16, hosted in a grey tuff/lapilli tuff horizon with pyrite and minor chert, a grey rhyolite tuff with no chert and a sericite schist with numerous chert pyrite bands. This hole helps link the zinc-silver mineralization from hole CLS97-16 to CLS99-73 as the grey tuff host rock can now be traced eastward. This was not previously detected in the nearer to surface "40" series of holes.

Holes CLS99-71 and 72, drilled northeast of the Cross Lake Zone for geological purposes, were successful in expanding the known extent of favourable host rock for VMS deposits. Hole CLS99-71 was drilled 1,100 metres northeast of hole CLS97-16. The hole intersected favourable rock for VMS deposits consisting of felsic tuffs/breccias, rhyolite, and chert with mineralization consisting of disseminated to semi-massive pyrite and minor chalcopyrite and sphalerite similar to the host rock of the Cross Lake Zone. Drillhole CLS99-72 was drilled 550 metres to the northeast of hole CLS97-16 to complete the geologic stratigraphic section in conjunction with CLS98-66. Although no significant economic mineralization was encountered in either hole, the presence of the wide spread felsic (rhyolite) pile to the northeast indicates that there is a large under-explored area favourable for hosting VMS type deposits.

The Company is in the process of arranging to have preliminary metallurgical testing conducted on zinc/silver and copper/silver samples taken from the Sheraton-Timmins Property. Results will be released when they become available.

ON BEHALF OF THE BOARD OF DIRECTORS CROSS LAKE MINERALS

LTD.

Henry G. Ewanchuk, Chairman, President and Chief

Executive Officer

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.