Cross Lake Minerals: Sheraton Timmins Project - Wide Zinc Mineralization Intersected.

VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--July 16, 1998-- Cross Lake Min.(VSE:CRN.) Cross Lake Minerals Ltd. (the "Company") is pleased to report that 120 metres (394 feet) of 1.03 percent zinc and 11.6 g/t silver, with a true thickness of approximately 100 metres (328 feet), was intersected from 506.0 to 626.0 metres in Hole CLS 98-59. This hole was recently completed as part of the Company's on-going extensive exploration program on its 100 percent held Sheraton-Timmins Property located near Timmins, Ontario. Included in this 120 metre section were higher grade, narrower intervals, which are shown in the table below. This wide zone of sulphide mineralization, containing sphalerite (zinc), chalcopyrite (copper) and banded pyrite, is hosted in felsic volcanic breccias and tuffs which indicate a favourable setting for volcanogenic massive sulphide (VMS) base metal deposits. This zone is twice the thickness as any previously encountered in the drilling to date.

Hole CLS 98-59 was collared 580 metres south of Hole CLS 97-16 and drilled to a total depth of 671 metres in order to intersect the Cross Lake Zone at depth. The importance of this hole is not only the presence of rhyolite and rhyolite breccias which hosts the widening mineralized zone but also the presence of copper mineralization which is increasing near the base of the sulphide intersection signifying a phase change from predominantly zinc to copper. Down-hole large loop Pulse EM surveys are being completed in Hole CLS 98-59 and also in adjacent Holes CLS 98-28, 98-39 and 98-53. Results from these surveys will guide the next phase of deep drilling.

Significant intersections from Hole CLS 98-59 include:

Hole        Intersection  Length   Zinc  Copper  Silver  Gold
Number        (metres)   (metres) (p.c.) (p.c.)  (g/t)  (g/t)

CLS 98-59   438.6-440.0     1.4    0.27     -     1.8    11.4
            506.0-626.0   120.0    1.03     -    11.6      -
Including   516.5-519.5     3.0    2.14     -    13.8      -
            534.5-539.0     4.5    2.88     -     4.6      -
            551.0-558.5     7.5    1.94     -    16.5      -
            573.5-578.0     4.5    2.18     -    16.9      -
            602.0-605.0     3.0    2.61     -     5.7      -
            624.5-626.0     1.5    2.78    0.64  25.4      -

Holes CLS 98-57, 58 and 60 were step-out geological holes, located from 1.0 to 2.0 kilometres southwest of Hole CLS 97-16 in the Cross Lake Zone. Of significance was the intersection of black chlorite and chalcopyrite in Hole CLS 98-58 which correlates with the results of follow-up Pulse EM and Mise-a-la-Masse surveys. These surveys identify a strong conductor (possible copper) passing below the hole and plunging to the west. Copper mineralization has now been traced for 200 metres along strike in the area of these holes, confirming that a series of vents occur along the 5 km Cross Lake IP trend. Hole CLS 98-61, collared 400 metres southwest of CLS 98-58, intersected a granite dyke and was terminated.

Significant intersections are as follows:

Hole        Intersection  Length   Zinc  Copper  Silver  Gold
Number        (metres)   (metres) (p.c.) (p.c.)  (g/t)  (g/t)

CLS 98-57   552.5-554.0     1.5    1.03     -    25.0      -
            578.0-585.5     7.5    1.01     -    38.2      -
            599.0-603.5     4.5    1.27     -    41.9      -

CLS 98-58   246.5-248.0     1.5      -     1.25   3.0      -
            264.5-267.5     3.0      -     1.38   4.8      -

CLS 98-60    71.0- 72.5     1.5      -     1.00   1.6      -
             95.0- 96.5     1.5      -     1.11   5.8      -
            137.0-138.5     1.5      -     1.91   6.8     1.2
            158.0-159.5     1.5      -     1.36   3.4      -
            164.0-165.5     1.5      -     1.20   3.6      -
            314.2-314.7     0.5    6.30     -     3.0      -

Cross Lake is continuing to conduct extensive geophysical surveys consisting of large loop Pulse EM, Mise-a-la-Masse and Induced Polarization (IP)/Magnetic surveys to guide the drilling program. A recent soil geochemical survey has identified targets to the northeast of the Cross Lake Zone which correspond with IP anomalies outlined earlier. As a result of the successful geochemical survey, this program will be expanded to cover areas located to the southwest of the Cross Lake Zone. Additional IP/mag surveys will be carried out to cover the area south of Area E (see map entitled "Exploration Target Areas & Drill Hole Locations", available by fax upon request). Recent Pulse EM and Mise-a-la-Masse surveys have already identified conductive targets within Areas A & E. In approximately three weeks, once results from the current work programs are received and interpreted, primary targets will be identified and drilling will continue.

ON BEHALF OF THE BOARD OF DIRECTORS CROSS LAKE MINERALS LTD.

Henry G. Ewanchuk, Chairman, President and Chief Executive Officer

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

   CONTACT: Cross Lake Minerals Ltd.
             Michele Jones, 604/ 688-5448
             or
             Cross Lake Minerals Ltd.
             Kristina Kalmet, 604/ 688-5448
             http://www.crosslakeminerals.com