Cream Minerals Announces Proposed Sale of the Nuevo Milenio Silver-Gold Property

Cream Minerals Ltd. (TSX VENTURE:CMA)(OTCBB:CRMXF)(FRANKFURT:DFL) ("Cream" or
the "Company") wishes to announce that the Company has entered into a letter of
intent for the sale of the Company's Nuevo Milenio Silver-Gold Property to a
British Columbia numbered company (the "Purchaser") controlled by a consortium
group which includes shareholders of Cream for consideration of $600,000 (the
"Transaction"). The Transaction will take the form of a sale of all of the
outstanding shares of the Company's wholly-owned subsidiary, Cream Minerals de
Mexico S.A. de C.V., which owns 100% of the 2,612.5 ha Nuevo Milenio Silver-Gold
Property located in Nayarit State, Mexico. The Transaction is subject to the
execution of a definitive agreement, as well as disinterested shareholder
approval and the approval of the TSX Venture Exchange.


"We have engaged in an exhaustive and thorough canvassing of the market for
potential buyers or joint venture partners for Nuevo Milenio since initiating
our strategic review process in July 2012. Having engaged in discussions with
numerous companies and given the context of the extremely challenging market
conditions and financing environment for the entire junior mining sector, I
believe the sale of Nuevo Milenio at this time is the only reasonable way for
Cream to continue as a going concern, with immediate liquidity to allow us to
move ahead and explore additional opportunities to rebuild shareholder value,"
stated Michael O'Connor, President and Chief Executive Officer of Cream. 


The Transaction requires shareholder approval in accordance with corporate law.
Additionally, the Transaction is considered a "related party transaction" within
the meaning of applicable securities laws as the Chief Executive Officer and
Director of the Purchaser is Ronald Lang, who is a standing director of Cream.
As a result, the Transaction must be approved by a disinterested majority of the
Company's shareholders at a shareholders meeting duly called for the purpose of
considering the Transaction. The Transaction is exempt from the formal valuation
requirement of Multilateral Instrument 61-101 - Protection of Minority
Securityholders in Special Transactions as the Company is not listed on certain
specified stock exchanges. 


The Company anticipates concluding a definitive agreement and calling a
shareholders meeting to consider the Transaction within the next several weeks.
Should a definitive agreement be concluded further details of the Transaction
will be made available as well as the required shareholder meeting.


About Cream

Cream Minerals is a mineral exploration company. To learn more about Cream
Minerals please click here www.creamminerals.com.


U.S. 20-F Registration: 000-29870

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


Forward-Looking Information

This news release contains "forward-looking information" and "forward-looking
statements" (collectively, "forward-looking information") within the meaning of
applicable securities laws. Forward-looking information is generally
identifiable by use of the words "believes," "may," "plans," "will,"
"anticipates," "intends," "could", "estimates", "expects", "forecasts",
"projects" and similar expressions, and the negative of such expressions.
Forward-looking information in this news release include statements about the
potential sale of the Nuevo Milenio property and the Company's future plans,
objectives and business strategy.  


In connection with the forward-looking information contained in this news
release, the Company has made numerous assumptions, regarding, among other
things, the assumption that the Company and Purchaser will execute a definitive
agreement for the sale of the Nuevo Milenio property; the Transaction will
receive required shareholder and regulatory approvals; and the assumption the
Company will continue as a going concern and will continue to be able to access
the capital required to advance its projects and continue operations. While the
Company considers these assumptions to be reasonable, these assumptions are
inherently subject to significant uncertainties and contingencies. Additionally,
there are known and unknown risk factors which could cause the Company's actual
results, performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by the forward-looking
information contained herein. Known risk factors include, among others: the
possibility that the sale of the Nuevo Milenio property may not occur on the
terms and within the timeframe currently anticipated, or at all; the Transaction
may not receive required shareholder and/or regulatory approvals; the
possibility that no other strategic alternatives will be available to the
Company; and the possibility that the Company may not be able to continue as a
going concern in the near term. 


A more complete discussion of the risks and uncertainties facing the Company is
disclosed in the Company's continuous disclosure filings with Canadian
securities regulatory authorities at www.sedar.com. All forward-looking
information herein is qualified in its entirety by this cautionary statement,
and the Company disclaims any obligation to revise or update any such
forward-looking information or to publicly announce the result of any revisions
to any of the forward-looking information contained herein to reflect future
results, events or developments, except as required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cream Minerals Ltd.
Christopher Hebb, LLB
Chairman
[phone] or Toll Free: 1-888-267-1400


Cream Minerals Ltd.
Michael E. O'Connor
President & CEO
[phone] or Toll Free: 1-888-267-1400
[phone] (FAX)
[e-mail]
www.creamminerals.com