Latin American Minerals Inc.

Latin American Minerals Inc.

January 15, 2007 16:29 ET

Latin American Minerals Inc. Commences Work on its La Carolina Gold Property

TORONTO, ONTARIO--(CCNMatthews - Jan. 15, 2007) - Latin American Minerals Inc. (TSX VENTURE:LAT) is pleased to announce that exploration has commenced on its La Carolina hydrothermal gold project in Province of San Luis, Argentina.

The exploration program includes soil geochemical surveys, geophysical surveys (IP surveys, CSAMT and magnetometer surveys), geological mapping, rock chip sampling, trench sampling and diamond drilling (2,000m). The program is based on the results of a comprehensive evaluation of the La Carolina Gold District. This evaluation included the digitalization of all exploration data, including recently acquired historic data and the interpretation of satellite (ASTER and IKONOS) imagery data to evaluate structural trends and alteration patterns in the District. Eleven (11) high priority targets associated with known gold occurrences and/or highly anomalous gold soil anomalies have been identified.

Three of the targets Cerro La Virgen, El Corte and La Luisa are situated within a regional soil geochemical anomaly up to 200m wide and 2,000m long reporting gold in soil values up to 1.2gpt Au, 5.5gpt Au and 1.2gpt Au respectively. Locally, this regional anomaly has seen limited surface sampling which confirmed the gold values found in the soil.

El Camino is partially exposed on surface by old workings. In 1988, Argentina's Direccion de Fabricaciones Miliares (DGFM) drilled 13 vertical holes on the showing. All of the holes intersected gold mineralization the best hole intersected 138m averaging 2.5gpt Au and included 25m averaging 4.2gpt Au, 33.9m averaging 1.22gpt Au and 29m averaging 1.44gpt Au. In 2004, Solitario-TNR drilled an inclined hole to confirm the DGFM results and intersected 20m averaging 1.43gpt Au, 34m averaging 0.52gpt Au and 6m averaging 1.41gpt Au. This drilling confirms the existence of an intensely altered gold bearing hydrothermal breccia pipe with chalcedony and pyrite matrix which suggests that the pipe remains open to depth and the true width of the pipe remains to be determined.

The Mogote target, located 1,000m south of El Camino, was drilled by DGFM and intersected 3m averaging 59.5gpt Au in the basement rocks in contact with the Tertiary volcanic rocks. This target has not been followed up and remains open at depth and along strike.

"La Carolina is truly an exciting project with history of gold mining which date back over 400 years and was so named in the honor of King Carlos of Spain. No modern systematic exploration has been carried out in the District. Gold occurs in intensely altered hydrothermal breccias associated with large diatreme intrusives know to host world class gold deposits." states Mr. David Wahl, P.Eng., President and CEO of Latin American Minerals Inc.

The La Carolina property is located in the Province of San Luis approximately 85 km south of the capital San Luis. The property is situated at an elevation of 2,000m and covers 4,000 hectares (9,885 acres).

Gold was discovered in the 17th Century by the Incas who were primarily interested in the silver. Over the next 200 years gold was mined by the Spanish. During the early part of the 20th Century the British focused on the gold potential. During the late 1980's, DGFM acquired the property and entered into a joint venture with Anglo American. This was the first attempt at a comprehensive exploration program. During the next 15 years several companies optioned the property with limited exploration success. In 2005 Latin American Minerals optioned the property and proceeded to stake the adjacent parcel, essentially doubling the size of the property.

La Carolina is a 12km long diatreme-dome complex (Tertiary) with low-sulfidation style disseminated gold/silver mineralization associated with pyrite-silica alteration in hetherolitic breccias spatially related to the rims of the diatremes which intrude the Paleozoic basement. The hydrothermal breccia typically are steeply dipping; however, in an abandoned road cut a horizontal breccia body is exposed in the basement rocks which confirms the existence of potentially significant horizontal breccias.

Dr. Waldo Perez, P.Geo., Executive Vice President of Latin American Minerals Inc. states that "...The Cerro La Virgen, El Corte and La Luisa regional gold anomaly, trending NNE, is associated to major suture zone at the contact the eastern amphibolite facies metasediments (Ordovician) with the western greenschists facies metasedimets (Devonian). Along that contact the Tertiary diatremes and intrusives are emplaced at the intersection of the same NW continental lineament that hosts the Pascua Lama Veladero gold district (about 50 M Oz). Going back to the soil anomaly, the NNE trending 3 km long soil anomaly is related to the contact between the volcanics (domes and diatremes) and the western greenschist facies Devonian metasediments...". For a deposit model please visit the company web site.

Dr. Waldo Perez, P.Geo, is the designated Qualified Person for the Project and is responsible for the contents of this news release.

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

Note: Although the website shows the site to be under construction, the site is active and can be accessed by clicking on "under construction". We are correcting this situation and apologize for any inconvenience.

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 have 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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