Latin American Minerals Inc.
TSX VENTURE : LAT

Latin American Minerals Inc.

January 18, 2008 08:00 ET

Retransmission: Latin American Minerals Intersects 6.5m With 26.64gpt Gold Including 4m With 43.08gpt Gold at its Paso Yobai Project, Paraguay

TORONTO, ONTARIO--(Marketwire - Jan. 18, 2008) - Latin American Minerals Inc. (TSX VENTURE:LAT) announces that it has received assay results for nine of twelve diamond drill holes completed at Paso Yobai. Eight holes contain gold mineralization intersected over individual sample intervals ranging from 0.3 to 2.0m. Classic fire assays results have been received for holes DDH-LAT-1 though DDH-LAT-8 and DDH-LAT-11. Metallic (screen) fire assays have been received for holes DDH-LAT-1, 3, 6 and 11. The significant classic and metallic fire assay results are summarized below.



DDH-LAT-11 Gold Bearing Zone Intersected over 4.6m from 88.2m to 92.8m
Gold Bearing Zone Intersected over 6.5m from 99m to 105.5m

Au (gpt) Au (gpt)
Classic Metallic
From To Interval Fire Fire
(m) (m) (m) Assay(i) Assay
99.00 105.50 6.50 26.64
including
100.50 104.50 4.00 43.08
100.50 101.00 0.50 138.39
104.00 104.50 0.50 105.51

88.20 92.80 4.60 3.20
including
89.20 90.20 1.00 10.70

DDH-LAT-6 Gold Bearing Zone Intersected over 6m from 112m to 118m

Au (gpt)(ii) Au (gpt)
Classic Metallic
From To Interval Fire Fire
(m) (m) (m) Assay Assay
112.00 118.00 6.00 11.00 15.30
including
112.00 113.00 1.00 7.87 9.13
113.00 114.00 1.00 30.77 37.86
114.00 115.00 1.00 1.84 1.11
115.00 116.00 1.00 24.59 25.22
which includes
112.00 116.00 4.00 16.27 18.51

DDH-LAT-1 Gold Bearing Zone Intersected over 10m from 92.0m to 102.0m

Au (gpt)(ii) Au (gpt)
Classic Metallic
From To Interval Fire Fire
(m) (m) (m) Assay Assay
92.00 102.00 10.00 1.03 1.64
including
92.00 94.00 2.00 4.23 5.96

DDH-LAT-3 Gold Bearing Zone Intersected over 1m from 112.0m to 113.0m

Au (gpt) Au (gpt)
Classic Metallic
From To Interval Fire Fire
(m) (m) (m) Assay Assay
112.00 113.00 1.00 12.60 13.00

(i) Classic fire assays were not done due to the presence of visible gold.
See Metallic or Screen Fire Assays, below.
(ii) The classic fire assay results were released in press release dated
January 3, 2008.


The metallic fire assay results are variably up to 23% higher than the conventional fire assay results reflecting the coarse visible gold content in the samples.

Mr. Wahl, President and CEO reports, "...the assay results from hole DDH-LAT-11 are very significant as they confirm very high grade gold shoots over potential mining widths exist within the 6 km long gold bearing zone and that further drilling will be required to identify the orientation and frequency of these high grade zones at Paso Yobai; furthermore, holes DDH-LAT-1, 3, 6 and 11 represent section across the gold bearing zone confirming gold mineralization in drill core along a strike length of 640m."

Classic and metallic fire assay results for the remaining holes will be released as part of ongoing diamond drill program at Paso Yobai which has resumed following the Christmas break.

Geo's Blog: In response to a number of requests from our geologist friends Dr. Waldo Perez reports that, "Paso Yobai is a very unique geologic setting in South America. Most gold deposits of the region are associated to the Andean Cordillera, the Patagonian plateau or the Brazilian Craton. Paso Yobai is an exception; because it is not related to any of those geologic settings. There is no significant gold producing mine within 2000 km of Paso Yobai and in that sense it is truly a new discovery. The geological setting of the district is unique because there are no known felsic intrusive rocks in the region. Regional geology is simply sub-horizontal coarse Permian sandstones intruded by NW oriented mafic dykes emplaced in Mesozoic times in a rift related to the spreading of the Atlantic Ocean. A nearby alkalic complex in Sierra de Ybyturuzu is the suspect heat engine of the region. Mineralization consists of carbonate, quartz and manganocalcite veins and stockwork developing inside the dikes or nearby its contacts with the sandstone. Alteration at surface is intense kaolinitization. Drill holes show that alteration across the mineralized zone is intense smectite at the mafic dyke, silica in the contacts of the dyke with the sandstone and carbonate replacement in the outer halo of the sandstone. The whole alteration halo is at least 200m wide. Sectors with multiple dykes and at least 2 of them mineralized have already been found. Intense forest cover precludes any mapping on surface. Trenches and soils are the only way to reveal what is at surface. The bonanza gold zones are found where kaolin and smectite are found together. A classic example where gold is related to smectite is the Ishikari deposit (Japan, 8MOz gold). The mineralized zone has low silver (less than 10 gpt). Other anomalous elements in the mineralized zone are V (up to 1000ppm), P (1400ppm), As (up to 900ppm), Ba (up to 1000ppm), Mo (73ppm) and Mn (2300ppm). This peculiar trace element association is related to the mafic alkalic source of the mineralized brines. Paso Yobai can be defined as a Low Sulfidation alkalic epithermal system. One of the largest analog world deposits is Cripple creek (USA, 8MOz gold)."

Waldo Perez, P.Geo is LAT's internal Qualified Person under the requirements of National Instrument 43-101 and is responsible for 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.

Sampling and Analytical Protocols: The sampling and analytical protocols were established, implemented and supervised by or under the direction of Dr. Waldo Perez, the Company's internal Qualified Person as defined by National Instrument 43-101. At the drill site, the core was placed in core boxes and delivered to a secure field core processing center. The core was "split" using a diamond saw by experienced exploration technicians and logged by professional geologists. The typically sample interval was 1m and locally the interval was increased to 2m or decreased to 0.5m. The sample interval was designated by the project geologists. Half of the core was left in the core box as a permanent reference of the interval sampled and half of the designated sample interval was delivered to the Company's sample preparation facility, operated by Company technicians under the direct onsite supervision and QA/QC provided by professionals from Alex Stewart Laboratories. Alex Stewart Assayers Argentina S.A. ("ASAA") laboratories is an ISO 9001-certified laboratory with laboratory facilities in Mendoza, Argentina and headquarters in England. The core samples were crushed, dried and split. A portion of the split sample was tagged and archived as coarse reject and the remaining portion ground to minus 200 mesh and shipped by bonded courier to ASAA laboratories in Mendoza, Argentina. All samples were assayed for gold and multi-elements by ICP. Gold was analyzed by Fire Assay with AA finish using 50 gram sample. For the multi-elements the samples were dissolved in Aqua Regia at 120 degrees C and read in ICP-OES. Accuracy of results is tested through the systematic inclusion of blanks, duplicates and certified reference standards.

Metallic or Screen Fire Assays: Many exploration samples exhibit a pronounced "nugget" effect due to the presence of particulate gold in coarse fragments. The net result is a pronounced and unacceptable scatter in the gold analytical results making it difficult to assess the true gold concentration. To improve the analytical reproducibility a Metallic or "Screen" Assay is recommended. In the screen fire assay the sample is crushed, 400gr of pulp is sieved and the plus 100 micron (150 mesh) portion of the sample is screened out and assayed in its entirety. The minus 100 micron (150 mesh) portion of the sample is homogenized and a 50 gram fusion is used to determine its grade. Then the final assay reported is the weighted average of both fractions, coarse and fine.

Notes:

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.

Contact Information