GoldMinerPulse Report on Cream Minerals Ltd.: (NI) 43-101 Metal Valuation Report

Cream Minerals Ltd. (CMA)

Company Web Site: www.creamminerals.com
This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2008-12-24. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-09-02.
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Cream Minerals Announces Signing Of Joint Venture Agreement With Roca Mines For The Nuevo Milenio Project, July 27, 2009 Note: Cream Minerals ownership adjusted to 30% of the Nuevo Milenio JV (which assumes full participation by JV partner). Change to be applied with August 11, 2009 metrics updates.
GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-09-02
Project/Deposit CC MVpSh PP% MI% I% Gold Silver
    Nuevo Milenio MX $3.94 0 0 100% 82.38 K oz     12.46 M oz

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / Metal Gold Silver
    Metal Totals 82.38 K oz     12.46 M oz
    Metal Prices in US$ (from 2010-09-02) $1,251.30 per oz     $19.69 per oz
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below) $1.17     $2.78
    Percentage of Total Metal Value 29.59%     70.41%
    PP% | MI% | I% 0 | 0 | 100%     0 | 0 | 100%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
    Metal Value per Share (MVpSh)    US$3.94
    Average Ore Value per Tonne    US$225.68
    Metal Value Leverage (MVL)    63.88
    Market Capitalization as % of Metal Value    1.6%
    Recent Stock Price    C$0.065   (TSX/TSXV close on 2010-09-02.)
Conversion rate used: 1 Cnd$ = 0.949244 US$ )
    Fully Diluted Share Count    88.37 M    ( Fully diluted share count taken from the Share Structure Web page (visited August 2009). )
    PP% | MI% | I%    0 | 0 | 100%
Gold Metrics-- all Projects/Deposits
    Average Gold Ore Grade    1.66 g/t
    Market Capitalization
    per oz of Gold In Ground    $66.19   US$  |   69.73   C$
    Gold Eq Oz Estimate    278.37 K oz   ( 82.38 K oz are in ground)
    Market Capitalization
    per oz of Gold Equilavent    $19.59   US$  |   20.63   C$
Silver Metrics-- all Projects/Deposits
    Average Silver Ore Grade    251 g/t
    Market Capitalization
    per oz of Silver In Ground    $0.44   US$  |   0.46   C$
    Silver Eq Oz Estimate    17.69 M oz   ( 12.46 M oz are in ground)
    Market Capitalization
    per oz of Silver Equilavent    $0.31   US$  |   0.32   C$

See terms for more about GoldMinerPulse metrics.
Additional Notes:
Other Projects (without a NI 43-101 resource estimate)    -   Project names taken from company web site (October 2008).

Casierra Diamond Property, Sierra Leone, West Africa

Goldsmith Gold Property, British Columbia, Canada

Kaslo Silver Property, British Columbia, Canada

Kootenay Gemstone Property, British Columbia, Canada

Kootenay Gemstone Property, Manitoba, Canada

Wine Nickel-Copper Property, Manitoba, Canada

GoldMinerPulse Coverage Status:
GoldMinerPulse coverage of Cream Minerals Ltd. is complete pending a final internal review.

Project/Deposit	CC	MVpSh	PP%	MI%	I%	Gold	Silver
Nuevo Milenio	MX	$3.94	0	0	100%	82.38 K oz	12.46 M oz

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / Metal	Gold	Silver
Metal Totals	82.38 K oz	12.46 M oz
Metal Prices in US$ (from 2010-09-02)	$1,251.30 per oz	$19.69 per oz
Metal Value per Share (MVpSh) (Shown in US$ and based on fully diluted share count shown below)	$1.17	$2.78
Percentage of Total Metal Value	29.59%	70.41%
PP% \| MI% \| I%	0 \| 0 \| 100%	0 \| 0 \| 100%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
Metal Value per Share (MVpSh)	US$3.94
Average Ore Value per Tonne	US$225.68
Metal Value Leverage (MVL)	63.88
Market Capitalization as % of Metal Value	1.6%
Recent Stock Price	C$0.065 (TSX/TSXV close on 2010-09-02.) Conversion rate used: 1 Cnd$ = 0.949244 US$ )
Fully Diluted Share Count	88.37 M ( Fully diluted share count taken from the Share Structure Web page (visited August 2009). )
PP% \| MI% \| I%	0 \| 0 \| 100%
Gold Metrics-- all Projects/Deposits
Average Gold Ore Grade	1.66 g/t
Market Capitalization per oz of Gold In Ground	$66.19 US$ \| 69.73 C$
Gold Eq Oz Estimate	278.37 K oz ( 82.38 K oz are in ground)
Market Capitalization per oz of Gold Equilavent	$19.59 US$ \| 20.63 C$
Silver Metrics-- all Projects/Deposits
Average Silver Ore Grade	251 g/t
Market Capitalization per oz of Silver In Ground	$0.44 US$ \| 0.46 C$
Silver Eq Oz Estimate	17.69 M oz ( 12.46 M oz are in ground)
Market Capitalization per oz of Silver Equilavent	$0.31 US$ \| 0.32 C$

See terms for more about GoldMinerPulse metrics.

Nuevo Milenio - ^top^

(NI) 43-101 Report:

Title: REVISED EVALUATION REPORT DOS HORNOS AND VETA TOMAS GOLD - SILVER STRUCTURES NUEVO MILENIO PROJECT
Date: 2008-12-24 (119 pages)

Updates: Company news release Cream Minerals Announces Revised Inferred Mineral Resource Estimate At the Nuevo Milenio Silver - Gold Project, Mexico .

Project Location: Nayarit, Mexico / Mining Region: Sierra Madre Occidental

Map View: View project on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $1.17 82.38 K oz 1.660 g/t 5.14 M t
Silver $2.78 12.46 M oz 251.000 g/t 5.14 M t
Estimate notes: See table Reported Inferred Mineral Resources revised to allow for present Gold and Silver Prices
Resource quantities adjusted for ownership percentage of 30.0%.
See REVISED INFERRED MINERAL RESOURCES (Part of NI 43-101 compliant Mineral Resource above) on p. 7 of 119 in the (NI) 43-101 report dated December 24, 2008.