SOURCE: IO Circuit

September 24, 2006 23:45 ET

(OTC PK: SAOL) Receives Permit to Begin Diamond Mining

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit.

LAKE HARMONY, PA -- (MARKET WIRE) -- September 24, 2006 -- Sao Luis Mining, Inc. (PINKSHEETS: SAOL), a diamond mining and precious metals exploration company, announced today that it has received the Guia de Utilizacao Permit from Brazil's Department of National Mineral Production (DNPM) allowing the Company to commence mining operations on its Property 117. The Company will process an 18,000 cubic meter bulk sampling along with a comprehensive drilling and delineation program to further define the extent of the resources on Property 117.

Sao Luis Mining President and Board Chairman, Jack Lake, says, "We anticipate results similar to Property 231 which is located adjacent to Property 117. To date Property 231 has produced over 175,000 carats of diamonds since 2000 and delineated over 12,695,000 carats of diamonds. We are excited about the potential of Property 117 since all indications are that it should prove to be extremely productive."

To read the complete release, go to http://biz.yahoo.com/iw/060922/0165949.html

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