SOURCE: Sao Luis Mining, Inc.

May 30, 2007 11:27 ET

Sao Luis Mining (SAOL) Becomes Target of Illegal Spam Emails

GARDNERVILLE, NV--(Marketwire - May 30, 2007) - Sao Luis Mining, Inc. (PINKSHEETS: SAOL) (FRANKFURT: F5G) (www.saolmining.com), a "conflict free" diamond mining and precious metals exploration company, announced the company has become the target of an illegal spam email campaign.

The company issued the following statement: "It has come to our attention that some illegal spammers have sent emails claiming inaccurate information regarding Sao Luis Mining's stock price, target price, and other claims. Our company never authorized or approved any of these emails and will seek all legal means to end this campaign. We issue our press releases in accordance with all SEC and NASD rules and regulations. Making claims to the contrary is unacceptable," stated Michael J. Dillon, SAOL Mining's President and Chairman.

About Sao Luis Mining:

Sao Luis Mining, Inc. (PINKSHEETS: SAOL) (FRANKFURT: F5G) is a "conflict free" diamond mining and precious metals exploration company. Its strategy is to acquire interests in producing mines and develop properties that have the promise to be economically viable. Sao Luis Mining has a 51% joint venture interest in Comercio e Mineracao Sao Luis Ltda., which operates two diamond properties and an existing processing plant in the Sao Luis River Basin with their joint venture partner, SL Mineradora LTDA. The operation is located in the state of Mato Grosso, which is the most productive diamond district in Brazil and responsible for 61% of all the legally mined diamonds in Brazil in 2005. Additional information, including a photo gallery and geological report, is available at the Company's website www.saolmining.com.

Forward-Looking Statements:

This news release contains "forward-looking statements" within the meaning of the U.S. 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.

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