Cross Lake Minerals: Sheraton-Timmins Property; Drilling Scheduled to Commence.

VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--March 1, 1999-- Cross Lake(VSE:CRN.) CROSS LAKE MINERALS LTD. (the "Company") wishes to advise that the first phase of 1999 diamond drilling on the 100 percent held Sheraton-Timmins Property, near Timmins, Ontario, is expected to commence by mid-March 1999.

Since the last program, the Company has conducted a detailed geological compilation of the 73 holes drilled on the property. A complete analysis and interpretation of whole rock data and various geophysical surveys, consisting of Induced Polarization, Magnetometer, Surface and Bore-hole Pulse Electromagnetic and Mise-a-la-Masse, have also been conducted. Results have confirmed that the felsic volcanic pile is thickening, the alteration is intensifying and widening and the Pulse EM anomalies are strengthening at depth. Several high priority drill targets have been identified and a 2,000 metre drill program is planned. The program will test these targets and follow the down plunge extension of the high grade zinc-silver mineralization in holes CLS 97-16, 98-49 and 98-63. The Company is optimistic that the next program will further enhance the potential for discovery of a significant volcanogenic massive sulphide deposit.

The Company has also been advised by Echo Bay Mines Ltd. ("Echo Bay") that drilling has commenced on the Currie Bowman Property in an area approximately 9 kilometres northeast of the Sheraton-Timmins Property. Echo Bay, which has an option to acquire Falconbridge Limited's 60 percent interest in the Currie Bowman Property (the Company holding the remaining 40 percent), is completing an Induced Polarization Survey and have identified a number of attractive drill targets. A program of five or six holes totalling 1200-1500 metres is planned.

Cross Lake Minerals continues to seek joint venture participation on some of its 26 properties, ranging from grass roots to drill-ready, and to regularly evaluate new projects for possible acquisition. The Company's main efforts continue to be on the Sheraton-Timmins Property.

ON BEHALF OF THE BOARD OF DIRECTORS

Henry G. Ewanchuk Chairman, President & Chief Executive Officer

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