Latin American Minerals Inc.
TSX VENTURE : LAT

Latin American Minerals Inc.

March 10, 2008 18:04 ET

Latin American Minerals Files NI-43-101 Technical Report on Its Paso Yobai Gold Project, Paraguay

TORONTO, ONTARIO--(Marketwire - March 10, 2008) - Latin American Minerals Inc. (TSX VENTURE:LAT) announces that it has filed an independent Technical Report on its Paso Yobai Gold Project in Paraguay. The report entitled "NI 43-101 Technical Report on Paso Yobai Project, Department Guaira, Paraguay" and dated February 15, 2008 was prepared by Cargill Consulting Geologists Limited, Toronto, Canada. The author and "Independent Qualified Person" is D. George Cargill, Ph.D., P.Eng., Consulting Geological Engineer.

The following presents Dr. Cargill interpretation and conclusions:

1) Artisanal mining has demonstrated a large zone of gold mineralization in soils and weathered rocks, on the Property.

2) Geophysical, geochemical, and geological exploration has demonstrated gold mineralization on the Property is related to:

- A zone of mafic (basalt) dykes (the "Dyke Zone").

- The Dyke Zone is bounded and cut by faults parallel to the strike and offset by faults at a high angle to the strike of the zone.

- The Paso Yobai Gold Zone (the "Main Gold Zone") has been traced 6.5 km by soil geochemistry and airborne magnetics and is variably exposed on surface by artisan miners for 3.6 km. Very high gold values in soil geochemistry mark the Main Gold Zone, which corresponds to a linear zone of high magnetic values, bounded by zones of low magnetic values.

- The aeromagnetic and soil surveys show magnetic anomalies with corresponding gold anomalies parallel to the Main Gold Zone, which suggest parallel mineralized dykes.

- The distribution of the parallel magnetic anomalies, which are interpreted to be dykes, may be controlled by structures at a high angle to the Main Gold Zone.

- EM anomalies also parallel the Dyke Zone. These EM anomalies are interpreted as derived from deep sources, and are tentatively interpreted as derived from deep-seated bodies of sulphides.

- Rock samples from the artisanal mine workings indicate gold mineralization is related to quartz veins in altered mafic dyke and altered (silicified) sandstone near the contacts of the dyke.

- Gold in the artisanal workings appears controlled by post dyke structures.

- Gold occurs in veins associated with sulphides (pyrite) and as coarse grained, free gold in veins without sulphides.

- Bonanza grades occur when the sulphide-free veins with visible gold are superimposed on the veins containing pyrite.

- Paso Yobai has many similar characteristics to several large gold and copper deposits associated with alkaline rocks, such as Porgera, Cripple Creek, Ladolam and Palabora.

3) The initial drill program of 12 holes totalling 1,989.2 metres indicates:

- The dyke ranges from 5 to 40 m thick and continues to at least 100 metre depth.

- Gold occurs in an altered dyke and sandstones controlled by structural zones, breccias, veins, stock-works within the dyke, and within the altered sandstones near the contact of the dyke.

- Coarse grained free gold giving bonanza assays has been found to depths of approximately 100 meters, which suggests that much of the free gold is primary.

4) Drilling on the aeromagnetic and soil geochemical anomalies has demonstrated that the gold mineralization is related to carbonate-quartz veins cutting the mafic dyke, and altered sandstones near the contact of the dyke. The gold mineralization including the bonanza grades continues to depths of plus or minus 100 meters.

5) Although there are only 12 widely spaced drill holes, higher grade gold mineralization appears related to variations in the position of the dyke along strike that appear to be dilation zones. The current data indicates that the primary targets in the Main Gold Zone are plunging shoots of structurally controlled gold mineralization.

6) The initial work on the parallel aeromagnetic and soil geochemical gold anomalies suggests that they are similar to the Main Gold Zone and controlled by structures at a high angle to the Main Gold Zone.

7) The parallel zones present targets similar to those on the Main Gold Zone. However, multiple parallel zones close to the Main Gold Zone, or to each other, could constitute a target of a large volume of structurally controlled gold mineralization.

Please see the above mentioned Technical Report and previous news releases issued by Latin American Minerals relating to the Paso Yobai Property for further information.

The following presents Dr. Cargill's Recommendations:

Cargill recommends a two-phase exploration program with the scope and extent of the second phase contingent on the results of the first phase.

PHASE I PROGRAM:

The first phase of the exploration will consist of drilling the remaining drill targets (3,000 m) and carrying out soil geochemistry, geology and trenching both to infill the existing grid and to extend the grid to the east and west to explore parallel dyke systems. The total cost of the Phase I program has been estimated to be US$935,000.00

PHASE II PROGRAM:

The current information indicates a second phase of exploration is warranted; however, the exact scope of work will be based on the results of the Phase One Program. As currently envisioned, the Phase Two Program will consist of the following:

- Geochemistry, trenching and mapping to better define the parallel dykes and to extend the Main Gold Zone along strike.

- Drilling to test new targets developed on the parallel zones and along strike on the Main Gold Zone. Approximately 5,000 m of drilling will be required.

- Definition drilling on the two best zones within the Main Gold Zone. Cargill estimates that about 12 drill sections with about 5,000 m of drilling will be required to test each zone.

The total cost of the Phase II Program is estimated to be US$3,734,500.00

Mr. Wahl, President and CEO reports that "... I am very pleased with the results of Dr. Cargill's report and his support of the Company's opinion that the project warrants future exploration..."

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.

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.

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