| Toronto, Canada, April 15, 2008, Latin American Minerals Inc. (LAT - TSX-V) announces that it has exercised its option to acquire a 75% interest in certain mineral claims collectively known as the La Carolina Property. LAT has completed the required exploration expenditures under the existing option agreement and, with the final issuance of 175,000 common shares and payment of US$75,000 to the optionors, has acquired a 75% interest in the property. The shares were issued on March 27, 2008 at the market price of $0.57 per share. A joint venture agreement between LAT and the optionors will be put in place in due course.
The property is a gold prospect located in the La Carolina District of San Luis Province in west-central Argentina. It is situated at an elevation of approximately 1,600m in the Sierras de San Luis and lies 85km north of the provincial capital, San Luis, and consists of three contiguous staked and optioned exploration concessions covering approximately 3,500ha.
“La Carolina has considerable untapped gold potential and we are very pleased to have earned a 75% interest and be entering the joint venture phase with our partners Geocom Resources Inc., TNR Gold Corp. and Compania Minera Solitario” stated David Wahl, President and Chief Executive Officer of LAT.
LAT is a mineral exploration company focused on the acquisition and development of base and precious metals projects in under-explored but highly prospective countries of Latin America. For more information please contact: David Wahl, President and CEO at (416) 363-0841 or visit www.latinamericanminerals.com The TSXV has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. This news release contains forward-looking statements, which can be identified by the use of statements that include words such as “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “likely”, “will” or other similar words or phrases. These forward-looking statements, including statements regarding the Corporation’s beliefs in potential mineralization, are based on current expectations, assumptions and projections about future events and entail various risks and uncertainties that are beyond the Corporation’s ability to control or predict. Actual results may materially differ from expectations as more information regarding a property is gathered or if the Corporation’s estimates or assumptions prove inaccurate. Factors that may materially affect actual results include, but are not limited to, political, business and economic conditions in Argentina and in jurisdictions where the Corporation conducts business, and risks associated with mineral exploration and production. The Corporation does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable securities law. Readers should not place undue reliance on forward-looking statements. The results described herein are exploratory in nature and there can be no assurance that they are indicative of Mineral Resources as defined in accordance with National Instrument 43-101. |
