Cross Lake Minerals Ltd. ("Cross Lake" or the "Company") is a Vancouver-based Gold Mining and Development Company focused on continued growth through exploration and acquisitions. Cross Lake is very pleased to be the first new gold producer in British Columbia in many years. To increase shareholder value, the Company will continue to search for gold projects throughout North America that complement the QR Mine and its expertise in gold development.

Each project ideally will result in a net increase in gold ownership per common share and increase the annual gold production and net resources controlled by the Company. This philosophy will continue to provide investors with strong growth and increased shareholder value.

Cross Lake completed pre production development at the QR Mine site in late August and commenced commissioning the mine in September resulting in the first gold pour in November. Through the winter months mining and mill operations are being brought up to full capacity.

The Company has also acquired several complimentary exploration projects predominantly in British Columbia, with the latest being the Porcher Island Project near Prince Rupert. Porcher Island has a reported historic resource, of 623,095 tons grading (cut and diluted) 0.20 oz/t gold over an average mining width of 11 feet and a long history of exploration and production. This resource was calculated from a very small part of the target vein systems.

Cross Lake with its partner Imperial Metals Corp. will continue diamond drilling and engineering to confirm and expand upon the historic resource that was reported by previous operators.