Latin American Minerals Inc.

Latin American Minerals Inc.

February 01, 2007 09:07 ET

Latin American Minerals Inc. Acquires Zinc-Silver Property in La Rioja, Argentina

TORONTO, ONTARIO--(CCNMatthews - Feb. 1, 2007) - Mr. David Wahl, President and CEO of Latin American Minerals Inc. (TSX VENTURE:LAT) (the "Company") is pleased to announce that the Company has acquired from Opawica Explorations Inc., a Canadian company listed on the TSX, a 100% interest in the Tendal Zinc-Silver property (the "Property") for CDN $52,000.00 paid in cash and 200,000 common shares of the Company. The Company intends to transfer the Property to its wholly owned subsidiary Latin American Minerals S.A.

The Property comprises four concessions in two blocks covering an aggregate total of 24,296 hectares in the historic Tendal mining camp in northeastern La Rioja Province. Several small historic mining licenses exist on the Property owned by third parties, but cover less than 1% of the total area.

Government and vendor reports mention the existence of several steeply dipping massive sulphide zones on the Property; the most significant zone reported widths of up to 9m grading 6.4% zinc (Zn), 1% copper (Cu), 1.4 % lead (Pb) and up to 84 gpt silver (Ag).

Recently, Dr. Perez, P.Geo., Sr. Vice President Exploration and internal Qualified Person for the Company visited the Property and confirmed the existence of a massive sulphide zone exposed over widths of up to 80 m in stacked lenses that range from 1 to 20 m thick each and extending along strike for at least 3 km. The mineralization is found in a bimodal Ordovician basaltic-rhyolite volcaniclastic sequence. The massive sulphide showings have classic characteristics of VMS deposits including sinsedimentary features, fine laminated sulfides in the shales and schists, bimodal magmatism and basal quartz-chlorite stockwork zones. The mineralization is oxidized on surface; however, several small artisan workings on the zone have exposed the primary sulphide mineralization to be galena (a lead mineral), chalcopyrite (a copper mineral) and sphalerite (a zinc mineral).

Dr. Perez observed that "...the mineralization, associated magmatism and the geologic setting on the Property reminds me of Tambo Grande mining camp in Peru and other VMS deposits around the world...".

During his initial site visit, Dr. Perez collected approximately 100 representative rock chip samples across the mineralized zone as well as samples of the host volcanic and sedimentary rocks. The samples have been delivered to Alex Stewart Assay Laboratories in Mendoza for ICP and FA analysis. All of the samples were collected by or under the direction of Dr. Perez, P.Geo. Results of this reconnaissance sampling will be released on receipt.

"The exciting aspect of the Property is that it has not been tested using modern geological, geochemical or geophysical techniques and has never been drilled..." states Mr. Wahl.

Dr. Perez, P.Geo., is the designated Qualified Person, as defined in NI-43-101, for the Property and is responsible for the contents of this news release.

On Behalf of the Board

David G. Wahl, P.Eng., P.Geo.

Director, President and CEO

Latin American Minerals Inc. is a mineral exploration company focused on the acquisition and development of exploration opportunities in South America.

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.

Historic estimates contained herein do not meet the definition of Mineral Resources as contained in National Instrument 43-101 of the Canadian Securities Administrators. Furthermore, neither the Corporation nor the Qualified Person has reviewed any of the reports or exploration results underlying such estimates and accordingly, such estimates (and any assumptions underlying such estimates) have not been independently verified. As a result, there can be no assurance that such historic estimates are reliable, or that such estimates are indicative of any mineralization which would meet the criteria of Mineral Resources as defined in accordance with National Instrument 43-101. Consequently, no reliance should be placed upon these historical estimates. However, the Corporation believes that these historical estimates may be indicative of the potential for mineralization on these properties.

The TSXV has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

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