CROSS LAKE MINERALS LTD.

Cross Lake Minerals Ltd. reports that all court orders and creditors approvals required for the completion of the transactions provided for in the amended and restated plan of compromise and arrangement filed by the company on May 21, 2009 pursuant to the Companies’ Creditors Arrangement Act and the British Columbia Business Corporations Act have now been obtained. The restructuring transactions provided for in the Plan of Arrangement, which are subject to a number of conditions, including the completion of the investment in the company by Procon Mining and Tunnelling Ltd. pursuant to the Investment Agreement dated as of April 3, 2009, as amended, are expected to close on or about June 1, 2009. Procon now owns 99.99% of Cross Lake Minerals Ltd.