SOURCE: Sao Luis Mining, Inc.

August 24, 2006 08:00 ET

Sao Luis Mining, Inc. Announces Listing on the Frankfurt Stock Exchange

LAS VEGAS, NV -- (MARKET WIRE) -- August 24, 2006 -- Sao Luis Mining, Inc. (PINKSHEETS: SAOL) announced today that it has completed its listing for the Frankfurt Stock Exchange and is now listed on the Frankfurt Exchange under trading symbol F5G.

The Frankfurt Stock Exchange is one of the world's largest and most efficient trading centers for securities. It accounts for approximately 90 percent of the turnover in the German market and is Europe's largest exchange in terms of the volume of securities traded. It has Xetra, one of the leading electronic trading platforms in the world which has opened the German stock market to both foreign investors and market participants. The Frankfurt Stock Exchange is the world's 3rd largest trade-place for stocks, exceeded only by the NYSE and NASDAQ, with a total turnover of 5.2 Trillion Euros per year and is the world's 6th largest by market capitalization.

Jack Lake, Chairman of the Board and President, said, "The Company's new Frankfurt Stock Exchange listing occurs at a time when there is a high level of interest in mining and precious metals companies on the European exchanges. This listing will also provide European investors a more convenient opportunity to purchase Sao Luis Mining shares via their retail or online brokers at a fraction of the regular fees for North American issues. We believe this will result in enhanced liquidity for our shareholders. Listing on the third largest market in the world puts us in front of the world's second largest investor market and significantly enhances Sao Luis Mining's global profile."

Forward-looking Statements:

This news release contains "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate", "expect", "anticipate", "projected", "planned", forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, not guarantees of Sao Luis Mining, Inc.'s future operational or financial performance, and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Sao Luis Mining:

Sao Luis Mining is a diamond and precious metals mining and exploration company. Its strategy is to acquire interests in producing mines and the development of properties that have the promise to be economically viable. Additional information, including a photo gallery and geological report is available at the Company's website www.saolmining.com.

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