July 27th, 2016 – Toronto, Ontario – Latin American Minerals Inc. (TSXV: LAT) (the “Company” or “LAT”) announces the resignation of Richard Boulay from the board of directors of the Company. Management would like to thank Mr. Boulay for his contributions to the Company and wish him every success in his future endeavors.
Greg Gibson has been appointed to the board of directors. Mr. Gibson has over 30 years experience in the mining industry. He has worked as a mine manager in gold and copper mines in Australia, a nickel mine in Timmins, Ontario, and a gold mine in British Columbia. He has held positions with JS Redpath in Canada and in the United States, Dynatec Mining Ltd. in Canada and the United States, and Yilgarn Star Gold Mine in Australia, Copper Mines of Tasmania in Australia and he is currently President and CEO of Jerritt Canyon Gold LLC. Mr. Gibson successfully led Trelawney Mining and Exploration Inc. as President and CEO and a director, to a $608 million plan of arrangement with IAMGOLD Corporation in June 2012.
The Company also announces that it has granted an aggregate of 3,900,000 options to purchase common shares of the Company exercisable at a price of $0.35 per share for a period of 5 years to directors, officers, and consultants of the Company. The common shares issuable upon exercise of the options are subject to a four month hold period from the original date of grant.
About the Company
Latin American Minerals Inc. is a mineral exploration and gold mining company with its core gold and diamond projects in Paraguay. The Company is currently expanding its Independencia Mine gold processing plant to encompass vat-leach gold recovery from mineralization extracted in open pit mining activities at its fully permitted mining concession.
Management has identified six gold zones for drill testing on the Company’s adjacent exploration claims, which are part of the Company’s 15,020 hectare Paso Yobai gold project.
For more information, please contact:
Basil Botha, CEO & Chairman
Vancouver: (1-604) 418-3856
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This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
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