Latin American Minerals Inc.

Latin American Minerals Inc.

October 29, 2007 09:21 ET

Latin American Minerals Reports Diamond Drill Program Has Started on Its Paso Yobai Gold Project in Paraguay

TORONTO, ONTARIO--(Marketwire - Oct. 29, 2007) - Latin American Minerals Inc. (TSX VENTURE:LAT) announces that the Phase I 5,000m diamond drill program has commenced on its Paso Yobai Gold Project. The drilling will consist of a series of sections across the gold zone designed to intersect the mineralized zone at several depths. Soil and geophysical targets will also be tested along the open 5.7km long anomaly, which are coincident with the known 3.7km trend of pits excavated by local gold miners. This will confirm the width and continuity of the mineralized zone and provide the basis for resource estimation. A total of 28 holes are planned for the Phase I Program testing depths from 75m to 350m.

Dr. Waldo Perez Sr VP Exploration states that "the Au at Paso Yobai is developed in association with mafic dykes and displays many similarities to alkalic low sulphidation epithermal gold deposits; furthermore, the Paso Yobai epithemal system is barely eroded therefore the whole system must be intact at depth..."

Paso Yobai has never been drilled, despite having been in continuous production by artisan miners for 7 years and having moved over 1 million cubic meters of soils and saprolite. Reports of production are only available for one out of 11 pits and that yielded approximately 2,000 ounces in 18 months. Most of the pits are abandoned when the miners hit hard rock at depths of 20-30m, because they have no ability to mine and process the gold bearing rock.

This August Dr. Gregg Corbett, LAT's independent technical advisor and world renowned expert on porphyry Cu-Au and epithermal Au-Ag deposits, visited LAT's Paso Yobai Gold Project and conducted an independent technical review. His expert advice provides significant insight into the project's potential. To review Mr. Corbett's report please visit under technical reports.

David Wahl, President and CEO reports that "...he is extremely pleased that drilling is commencing and that drill results will be released as soon as possible..."

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

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.

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

Contact Information