Cross Lake Minerals Ltd.: Night Hawk Lake Joint Venture.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--Nov. 15, 2000

Cross Lake Minerals Ltd. ("Cross Lake") (TSE:CRN.), East West Resource Corporation ("East West") and Canadian Golden Dragon Resources Ltd. ("Golden Dragon") (collectively, the "Purchasers") are pleased to announce that, subject to all necessary approvals, they have agreed to acquire Repadre Capital Corporation's ("Repadre") 60% interest in the Night Hawk Lake Joint Venture Property ("NHLJV Property"), located near Timmins, Ontario.

Cross Lake, East West and Golden Dragon currently hold a combined 40% (16%-16%-8%, respectively) in the NHLJV Property; upon completion of the transaction, their interests will increase to 100% (40%-40%-20%, respectively), with Cross Lake as the operator.

As consideration, Repadre will be granted a 2.5% Net Smelter Return Royalty ("NSR Royalty") on the NHLJV Property. The Purchasers will have a one time right, at their option, to reduce the NSR Royalty to 1.0% with the payment of $1.5 million to Repadre.

The NHLJV Property is located 41 km east of Timmins in the Macklem, Bond, Currie, Sheraton and Thomas Townships. It comprises 10,256 hectares and encompasses 108 unpatented mining claims (633 units) and two patented lots (8 units). Since October 1996, a total of 15,026 metres of diamond drilling in 47 holes has been completed on the Property, as well as 899 metres in four holes drilled by Cross Lake which extended onto the NHLJV Property from Cross Lake's adjacent Sheraton-Timmins Property.

There are several very attractive high priority target areas on the NHLJV Property which will require testing. The main Cross Lake Zone on the Sheraton-Timmins Property strikes northeast and southwest onto the NHLJV Property and has been verified on the NHLJV ground by detailed Induced Polarization (IP) geophysical surveys and exploratory drilling. One kilometre north of the Cross Lake Zone is the Sheraton Lake Zone, located 100% on the NHLJV Property, which consists of copper and zinc mineralization in favorable altered felsic volcanic and volcaniclastic rocks with a strong I.P. signature. The recently released Ontario Geological Survey Operation Treasure Hunt airborne geophysical survey outlined the Sheraton Lake Zone extremely well and delineated several more Electromagnetic (EM) anomalies on the flanks and along strike of the known mineralization that require testing. Another high priority target is a cluster of EM anomalies, outlined by the OGS survey and ground I.P. surveys, located halfway (500 metres) between the Cross Lake and Sheraton Lake Zones with a parallel strike direction. This area is favorable for base metal deposition in stacked volcanogenic massive sulphide systems. These high priority areas will be ground tested within the next month using MMI soil analyses to prioritize the targets for future detailed exploration.

ON BEHALF OF THE BOARD OF DIRECTORS

CROSS LAKE MINERALS LTD.

Henry G. Ewanchuk, Chairman, President & C.E.O.