Cumberland Resources (CLG)

[Ed Monton]

Cumberland Approves $4.7 Million Exploration Program for
Meadowbank Gold Project

VANCOUVER, BRITISH COLUMBIA--CUMBERLAND RESOURCES LTD. (CBD-TSX)
is pleased to report that it has received approval from its Board
of Directors for a $4.7 million 2004 exploration program for the
100% owned Meadowbank gold project located 70 kilometres north of
the Hamlet of Baker Lake, Nunavut. The 2004 exploration program
will focus on exploration near existing gold deposits, numerous
recently-defined prospects, and grassroots exploration within the
25 kilometre gold trend. The program, including two phases of
diamond drilling totaling approximately 12,000 metres, is
expected to begin in early March and continue for approximately
six months. Meadowbank is host to the third largest undeveloped
gold resource in Canada with six closely spaced, near surface
gold deposits.

 
  
 Meadowbank Project Resources - Q1/2004(i) 
 -------------------------------------------------------------------- 
 Resource Category               Tonnes    Grade (g/t)    Ounces Gold 
 -------------------------------------------------------------------- 
 Measured and Indicated      21,685,100          4.30       2,998,000 
 Inferred                     5,699,700          4.30         788,000 
 -------------------------------------------------------------------- 
  
 

"Now that the resource thresholds required for the feasibility
study have been achieved, we are able to focus our exploration
activities on a variety of targets developed over years of
exploration on the project," remarked Kerry Curtis, President and
CEO. "This year's exploration program will assess future resource
growth as we continue to focus on advancing the Meadowbank
project to production."

Primary Drill Targets for 2004

In the Goose Island deposit, a series of deep drill holes
completed in 1997 and 1998 intersected high grade mineralization
that remains open for expansion. Some of these intersections
include:

G97-163: 15.44 g/t over 3.20m at 300m below surface (see news
release NR97-7)

G98-238: 19.60 g/t over 2.05m at 270m below surface (see news
release NR98-9)

These intersections are located well below the Goose Island
preliminary open pit design and represent areas of potential high
grade resource additions.

The Vault deposit remains open in several directions for
expansion. To the west of the current preliminary open pit
design, several holes drilled in 2003 indicate potential for the
expansion of resources. Intersections include drill hole
VLT03-135 which yielded 2.84 g/t over 3.10m at 15 metres below
surface. This intersection appears to be in the same
stratigraphic horizon as the Vault mineralization and is located
approximately 350 metres west of the preliminary open pit design.


The Crown area represents a prospective target located 3.5
kilometres north of the Vault deposit. Gold mineralization at
Crown displays similarities to the style of mineralization at the
Vault deposit. Mineralization in both outcrop and float was
discovered in 2003 as a result of following up reverse
circulation drill anomalies. Eleven grab samples taken from two
islands in Wally Lake assayed between 1.33 g/t and 13.45 g/t.

Cumberland is a mineral exploration and development company which
holds interests in two undeveloped gold properties in Canada:
Meadowbank (100%) and Meliadine West (22% carried to production).
Cumberland is well financed and is currently evaluating a 10 year
open pit mine plan based on a preliminary assessment(ii)
completed in January 2002, which indicated the Meadowbank
property could support a production rate of approximately 250,000
ounces per year.

CUMBERLAND RESOURCES LTD.

Kerry M. Curtis, B.Sc., Geo., President and CEO

(i) Q1/2004 resource estimates were prepared in conformance with
the requirements set out in National Instrument 43-101 by AMEC
independent qualified persons as defined by NI 43-101. All
resource estimates (except for the PDF deposit) have been
prepared by AMEC independent qualified persons as defined by NI
43-101 under the direction of Steve Blower P.Geo. Resource
estimation models for all deposits were estimated using
three-dimensional block model methods employing inverse distance
methods. Grade capping strategies were developed and applied by
AMEC and include application of capping and/or capping with
distance restrictions on high grade assays. Resources were
classified as measured only in areas defined by close spaced
drilling and trench exposures. Indicated resources for all of the
deposits are generally within 25 metres of a drill hole, and are
supported by a minimum of two drill holes.

(ii) Cautionary Note: The preliminary assessment completed in
January 2002 is preliminary in nature, included inferred mineral
resources that are considered too speculative geologically to
have the economic considerations applied to them that would
enable them to be categorized as mineral reserves and there is no
certainty that the preliminary assessment will be realized. The
production forecast used in the Preliminary Assessment included
approximately 5.9 million tonnes of Inferred Mineral Resource, or
41% of the total forecast. In compliance with National Instrument
43-101, the Company issued a Technical Report which is available
at www.sedar.com for review.

This document contains certain forward looking statements which
involve known and unknown risks, delays and uncertainties not
under the Company's control which may cause actual results,
performance or achievements of the Company to be materially
different from the results, performance or expectations implied
by these forward looking statements.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Cumberland Resources Ltd.
Kerry Curtis
President and CEO
[phone]
[phone] (FAX)
or
Cumberland Resources Ltd.
Joyce Musial
Manager, Investor Relations
[phone]
[phone] (FAX)
Email: [e-mail]
Website: www.cumberlandresources.com