Latin American Minerals Inc.
TSX VENTURE : LAT

Latin American Minerals Inc.

April 16, 2010 15:20 ET

Latin American Minerals and Minas Paraguay Amend Paso Yobai Option Contract-to Issue Shares for Part of Option Payment; Confirms Warrant Extension

TORONTO, ONTARIO--(Marketwire - April 16, 2010) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES

Latin American Minerals Inc. (TSX VENTURE:LAT) (the "Corporation") announces that the Corporation and Minas Paraguay S.A. ("Minas Paraguay") have agreed to amend their Option Contract to allow for the April 18, 2010 option payment of US$1,150,000 to be partly paid in common shares of the Corporation and the payment date for remainder of the option payment to be extended. Pursuant to this amendment, Minas Paraguay is being issued that number of common shares of the Corporation equal to US$250,000 based on the closing price of the common shares of the Corporation on the TSX Venture Exchange on April 16, 2010. The remaining US$900,000 payment is deferred to January 11, 2011. The foregoing is subject to the approval of the TSX Venture Exchange.

In addition, the Corporation confirms that, as previously announced, the TSX Venture Exchange has approved the Corporation's application to extend the term of 6,689,000 share purchase warrants ("Warrants") that were issued by the Corporation as part of a private placement completed on August 19, 2008. Each Warrant now entitles its holder to purchase one additional common share of the Corporation at an exercise price of $0.50 per share until February 18, 2011.

About Latin American Minerals Inc.

Latin American Minerals Inc. is an active mineral exploration company focused on the acquisition and development of mineral projects in under-explored but highly prospective countries of Latin America. Currently focused on its Paso Yobai gold project in Paraguay, Latin American Minerals is developing a track-record of exciting project generation in the Americas.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Corporation in any jurisdiction in which such offer, solicitation of sale would be unlawful.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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