SOURCE: Lateegra Gold Corp.

October 01, 2007 16:58 ET

Lateegra Expands Peruvian Gold Opportunities, Appoints Jeffrey Reeder, P.Geo. & Director, V.P. Business Development

VANCOUVER, BC--(Marketwire - October 1, 2007) - Lateegra Gold Corp. (the "Company") (TSX-V: LRG) (FRANKFURT: LTG) is pleased to announce that Jeffrey Reeder P.Geo., formerly an independent director of the Company has accepted the position of Vice President of Business Development.

Mr. Reeder has two potential world class discoveries to his credit in Peru. Mr. Reeder acquired the Pinaya project in early 2004 and established an excellent working relationship with the local people. Numerous companies had overlooked the porphyry potential at Pinaya and were unable to deal with the social situation at that time. To date, Acero-Martin Exploration Inc., has drilled over 138 drill holes totaling more 36,600 meters at Pinaya. The second project, the Aquila copper-moly project in Northern Peru, is being explored by Duran Ventures Inc. and MacMillan Gold Corp. who recently released two spectacular step-out holes based on targets identified in a geologic model postulated by Mr. Reeder during his previous involvement. Mr. Reeder acquired this project for MacMillan Gold in the late 1990s.

The Company is very excited to have Mr. Reeder stepping up to a more prominent role, leading the Company's efforts in building a world class portfolio of wholly owned gold and precious metal assets within Peru and elsewhere in Latin America. The targeting of both large tonnage epithermal gold exploration potential in parallel with a systematic revue of all in-country private gold production available for acquisition is the mandate.

Mr. Reeder brings with him 15 years of experience within Peru, together with a cohesive, turn-key team of personnel presently employed by Mr. Reeder, along with an impressive network of Peruvian and ex-patriot professionals.

"This is a fantastic development having Jeff and his impressive Peruvian-based team dedicated to Lateegra's mandate for the acquisition and development of high caliber gold opportunities," states Lateegra's President & CEO, Chris Verrico. "By utilizing this existing infrastructure in concert with Jeff's track record for discovery of the more difficult and illusive economic grade mineralized structures, affords the Company tremendous exposure to the mineral rich regions of Peru. The addition of Jeff and his team will augment nicely with the Company's in-house Geological and Professional resources presently focused on similar efforts emanating from opportunities generated out the Company's Mexican base in Hermosillo, Mexico."

In conjunction with the increased role of Mr. Reeder and operations in Peru, the Company wishes to announce that a recent site visit to Northern Peru has been successfully concluded, and negotiations have commenced, subject to further due diligence, for the acquisition of a gold project in Northern Peru. Upon successful conclusion to these negotiations, a further announcement will be made.

ON BEHALF OF THE BOARD OF DIRECTORS

"Chris Verrico,"
President and CEO

About the Company: Lateegra Gold Corp. is an exploration and development Company with a focus on precious metals in Mexico and South America. The Company currently has interests in properties in Mexico and Ecuador including the El Condor property, located within Aurelian Resources property containing their massive Fruta del Norte discovery.

THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Contact Information

  • Contact:
    Lateegra Gold Corp.
    Suite 1128 – 789 West Pender St.
    Vancouver, B.C., Canada V6C 1H2
    Tel: 604-669-9330
    Fax: 604-669-9335
    Toll Free: 1-866-669-9377
    www.lateegra.com
    Email: info@lateegra.com