Latin American Minerals Inc.
TSX VENTURE : LAT

Latin American Minerals Inc.

August 14, 2009 17:01 ET

Latin American Minerals Inc. to Raise Up to $1.5 Million in Private Placement Financing

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2009) - Latin American Minerals Inc. (TSX VENTURE:LAT) (the "Corporation") announces that it has agreed to issue, on a private placement basis, a maximum of 10,000,000 units ("Units") at $0.15 per Unit for maximum gross cash proceeds of $1.5 million for its lithium projects (the "Private Placement").

Each Unit shall consist of one common share of the Corporation ("Common Share") and one half common share purchase warrant of the Corporation (a "Warrant"). Each full Warrant shall entitle the holder thereof to acquire one Common Share at an exercise price of $0.30 per Common Share for a period of two years following the closing of the Private Placement (the "Closing Date"). If the closing price of the Common Shares is higher than $0.60 per Common Share for a period of 20 consecutive trading days at any time after four months and one day after the Closing Date, the Corporation may accelerate the expiry date of the Warrants by giving written notice to the holders of the Warrants ("Notice"). Where Notice is provided, the Warrants will expire on the 30th day after the date on which Notice is provided by the Corporation.

PowerOne Capital Markets Limited ("PowerOne") and Dundee Securities Corporation ("Dundee", and together with PowerOne, the "Brokers") will act on a best efforts agency basis on the Private Placement. The Brokers are to receive a cash commission of 7% of the gross proceeds and broker warrants entitling them to acquire such number of Units as is equal to 8% of the aggregate number of Units sold in the Private Placement, at a price of $0.15 per Unit, exercisable for a period of two years following the Closing Date ("Broker Warrants").

The Private Placement is conditional upon due diligence by the Brokers, regulatory review and approval, and other closing conditions.

Latin American Minerals Inc. is a mineral exploration company focused on the acquisition and development of minerals 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 jurisdictions where the Corporation conducts business, and risks associated with mineral exploration and production. The Corporation does not intend, and does not assume any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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