Cumberland Resources - Parker Lake Project Update Three New Diamondiferous Dykes Identified Additional Prospective Nickel-Copper Ground Acquired.

RICHMOND, British Columbia--(BUSINESS WIRE)--March 28, 1996--Cumberland Resources Ltd. (TSE:CBD) is pleased to announce further results and recent activity on its 50 percent owned and operated Parker Lake Project, centred 60 miles west of Rankin Inlet, Northwest Territories.

The Parker Lake Project is a Joint Venture between Cumberland (50 percent), Comaplex Minerals Corp (25 percent) and Manson Creek Resources Ltd. (25 percent).

To date three important exploration targets have been outlined on the property - none of which have been drill tested.

These include the SANDHILL zinc-copper prospect where an extensive alteration zone is associated with significant zinc-copper values; the SULUK nickel-copper-cobalt prospect which was traced on surface for 2,100 feet and averaged 3.9 percent nickel, 2.8 percent copper and 0.167 percent cobalt; and the THIRSTY LAKE (or Akluliak) Diamond prospect which is a volcanic dyke extremely rich in micro diamonds.

Three New Diamondiferous Dykes Identified

In early 1995, a 7.8 kg sample from the Thirsty Lake Dyke processed by Monopros (a division of De Beers) yielded 6,680 micro diamonds and several macros. Subsequently, a one tonne bulk sample also processed by Monopros identified two macro diamonds greater than 1 mm in diameter. In the summer of 1995 continued sampling and prospecting confirmed two new targets based on classic diamond indicator minerals and located several new volcanic dykes similar in nature to the Thirsty Lake occurrence.

Preliminary results have now been received from the University of Western Ontario's Department of Earth Sciences of samples taken from similar dykes located within a 10 mile radius of the Thirsty Lake occurrence.

Three additional diamond bearing dykes have now been identified. Preliminary results from these dykes indicate between 6 and 12 microdiamonds from samples weighing from 4.5 to 8 kg. These new discoveries support the Company's belief that the area has the potential for large diamond bearing structures and that additional evaluation is warranted. Additional Prospective Nickel-Copper Ground Acquired

Over the course of the winter the Company identified other targets outside of the Suluk nickel-copper-cobalt massive sulphide zone which warrant exploration in 1996.

The Company recently acquired, by staking, additional ground in the area which covers exposures of mafic intrusive rocks containing disseminated sulphides. A surface grab sample collected in 1992 from one of the areas staked contained highly anomalous copper and nickel values of 0.37 percent copper and 0.24 percent nickel. Follow-up work will be conducted in these areas as soon as weather conditions permit.

1996 Initial Exploration Budget Increased

The first phase of the 1996 exploration budget has been revised to $1.4 million. Commencing in mid-April, a program of airborne and ground geophysics followed by 8,200 feet of diamond drilling will initially test the Suluk and Sandhill targets. Other high priority targets as defined by the geophysical surveys will also be drill tested.

Prospecting, sampling and geological programs to identify other diamond and base metal targets will commence in early July. Results will be announced as soon as they are available.

Cumberland Resources is a Canadian mineral company with two emerging gold projects, Meadowbank (60 percent) and Meliadine (50 percent) located in the Northwest Territories. Cumberland is also actively exploring for base-metals in Portugal and in Northwestern Ontario. The Company is well funded with in excess of $7.0 million cash for future programs.

CONTACT: Cumberland Resources Ltd.

Glen Dickson or Kerry Curtis, 604/244-7112