Latin American Minerals Inc.

Latin American Minerals Inc.

October 29, 2007 12:52 ET

Latin American Minerals Options 100% Interest in the Esmeralda Sediment-Hosted Gold Property, Colombia

TORONTO, ONTARIO--(Marketwire - Oct. 29, 2007) - Latin American Minerals Inc. ("LAT") (TSX VENTURE:LAT) announces that it has signed a binding heads of agreement to option a 100% interest in the 10,000 hectare Esmeralda gold project in the Pasto Department in southern Colombia, by making escalating cash payments totalling US$452,500 and by expending US$250,000 on exploration over 5 years.

Gold on the Esmeralda Property is associated with quartz and sulphide veins/veinlets and with disseminated pyrite in conglomerates, sandstones and siltstones. The currently known anomalous zone covers approximately 15km2 (5km x 3km) and is stratabound to a specific favourable horizon of sandstones, conglomerates and siltstones of Tertiary age. The thickness of these horizons is unknown as most of the property is covered by jungle. Sampling by the vendor indicates that the sulphide veins/veinlets contain gold ranging from less than 1gpt Au to 289gpt Au. Quartz veins contain 1 to 30gpt Au. The vendor reports the conglomerates with disseminated sulphides ranges from 20 ppb to 5gpt Au. Stream sediment samples collected below the mineralized horizon returned up to 700 ppb Au. Zinc is also extremely anomalous and samples of the conglomerate returned assays greater than the upper ICP detection limit (greater than 1% Zinc). LAT has not independently verified these results but has started an aggressive sampling program to verify these historic results.

Dr. Waldo Perez, Sr. VP Exploration states that, "... the fact that the gold is associated with sediments is encouraging as it implies tonnage potential for the mineralized zone."

Mr. David Wahl, President and CEO reports, "... the Esmeralda project is in keeping with our stated objective of acquisition of promising targets. With Colombia's large exploration potential dating back to colonial times and significant gains in political and commercial stability, Colombia is becoming an important destination for exploration and development in South America. We view the Esmeralda project as an initial step in a larger acquisition strategy for Colombia."

LAT has commenced its diamond drill program on its Paso Yobai epithermal gold project in Paraguay and is continuing work on its Tendal massive sulphide project in Argentina, where camp construction is nearing completion in advance of the upcoming drilling season.

LAT is a mineral exploration company focused on the acquisition and development of base and precious metals projects in under-explored but highly prospective countries of Latin America.

Dr. Perez is LAT's internal Qualified Person under the requirements of National Instrument 43-101 and is responsible this press release.


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. The results described herein are exploratory in nature and there can be no assurance that they are indicative of Mineral Resources as defined in accordance with National Instrument 43-101.

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

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