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| 21. Jun. 2007 - Latin American Minerals Inc. Announces Legislative Changes Affecting its Cerro Amarillo Project in the Province of Mendoza, Argentina |
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Toronto, Canada, June 20, 2007, Latin American Minerals Inc. (LAT - TSX-V) ("LAT" or the "Company") announces that the provincial government of Mendoza has passed legislation banning the use of any chemical substance used in mineral processing. This legislation will have a direct effect on investing in exploration in the Province and does not reflect well on the future of mining in the Province of Mendoza.
LAT's Cerro Amarillo gold and copper project is located in the Mendoza Province. As previously disclosed, LAT has been evaluating whether to continue with this project and in light of the new legislation LAT will suspend further work on Cerro Amarillo.
LAT will continue to focus its efforts on its Paso Yobai gold project in Paraguay, La Carolina gold project in San Luis Province, Argentina, and its Tendal zinc, copper, lead, silver project in La Rioja Province, Argentina.
LAT has a fully funded $US2.0 million research and acquisition budget and the Company is currently evaluating strategic exploration acquisitions in Paraguay and several other countries in Latin America.
Dr. Waldo Perez, Sr. VP Exploration states "... he is concerned about the impact the new legislation will have on exploration in the Province of Mendoza; but adds the Company currently has three other projects of higher priority and a great depth of experience in all of Latin America, demonstrated by the recent identification and acquisition of Paso Yobai gold project in Paraguay and that the Company is well positioned to leverage this knowledge to generate new significant projects for its shareholders..."
Mr. David Wahl, President and CEO, commenting on the new legislation states "... I am obviously disappointed with the new legislation and the direction the government of Mendoza is taking in advance of the provincial election; however, LAT remains committed to advancing our key assets and identifying new exploration opportunities in highly prospective, but under explored regions in Latin America..." .
Latin American Minerals Inc. is a mineral exploration company focused on the acquisition and development of exploration opportunities in South America. For more information please contact David Wahl at (416) 593-9356 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. Readers should not place undue reliance on forward-looking statements. |
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