1. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
2. The quantity and grade of reported Inferred Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as an Indicated or Measured Mineral Resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured Mineral Resource category.
3. The Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.
4. S.G. of 2.65 tonnes/m3 was used.
5. Tonnage and contained Ag and Au are rounded to nearest thousand or thousandth. Totals may not ad up due to rounding.
Sensitivity analysis demonstrates that the resources are not greatly affected by $10 value changes in the cut-off grade. This is a consequence of a general lack of shoulders to the mineralization on most sections. It is possible that a substantial reduction of the cut-off grade to, for example $50 of gold and silver value would bring additional sub-zones into Mineral Resources, however WGM believes that it would be difficult to mine such grades at a profit. Additional resources might be forthcoming if those portions of the deposit amenable to open-cut mining were modelled separately, however it is WGM's view that such operations would not substantially alter the current resource total because the average true thickness of all zones contributing to the base case Mineral Resources is in excess of 6 m.
Al Workman, P.Geo., Vice-President of WGM, is responsible for the Current Mineral Resource estimate for the Nuevo Milenio Project. Mr. Workman and senior WGM Associate, Mr. Derek McBride, P.Eng., are the Independent Qualified Persons within the meaning of National Instrument 43-101 responsible for authoring the 2013 Report. The technical portions of this news release have been reviewed by Al Workman for accuracy to ensure that the disclosure is complete and not misleading.
Cream Minerals is a silver-gold exploration company. To learn more about Cream Minerals please click here: www.creamminerals.com
Christopher Hebb, LLB, Chairman of the Board
Michael E. O'Connor, President & CEO
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", "budgets", "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 updated resource estimate and independent technical report on the Company's Nuevo Milenio's silver project filed on the date hereof (the "Report"); the BCSC review of the Report; resolution of the BCSC's issues and comments with the Report; filing a complaint NI 43-101 technical report; progress report press releases. Information concerning mineral reserves, measured mineral resources, indicated mineral resources and inferred mineral resources also may be deemed to be forward-looking information in that it reflects a prediction of the mineralization that would be encountered if a mineral deposit were developed and mined.
In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable, and is based upon practices and methodologies which are consistent with industry standards; and the continued financing of the Company's 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: fluctuations in metal prices and currency exchange rates; conditions in the financial markets and overall economy may continue to deteriorate; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of the metallurgical test work; the uncertainty of the estimates of capital and operating costs, recovery rates, and estimated economic return; the need to obtain additional financing and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals.; the ongoing resolution of the issues raised by the BSCS may have a material adverse effect on the Company's financial condition and share price and may affect the Company's ability to raise additional capital on terms acceptable to the Company, or at all.
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.
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.
Cream Minerals Ltd.
Christopher Hebb, LLB
Chairman of the Board
(604) 687-4622 or Toll Free: 1-888-267-1400
Cream Minerals Ltd.
Michael E. O'Connor
President & CEO
(604) 687-4622 or Toll Free: 1-888-267-1400
(604) 687-4212 (FAX)
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