Latin American Minerals Inc.
TSX VENTURE : LAT

Latin American Minerals Inc.

May 22, 2009 15:13 ET

Latin American Minerals Intersects 1.27 Metres Averaging 45.30 gpt (1.55 opt) Gold, Including 0.48 Metres Averaging 111.15 gpt (3.81 opt) Gold

Outlines Potential Mineral Deposit at Paso Yobai, Paraguay

TORONTO, ONTARIO--(Marketwire - May 22, 2009) - Latin American Minerals Inc. (TSX VENTURE:LAT) reports that it has completed the previously announced drilling program at Paso Yobai. Eleven holes were drilled totaling 1,380 metres. All of the holes intersected the gold bearing host rock and wall rock alteration associated with gold mineralization. Gold was intersected in all holes with values ranging from 100 ppb to 111.15 gpt Au over widths ranging from less than 0.5 metres to 3.8 metres. Complete results, including cross sections, a longitudinal section and location of the drill holes can be found at www.latinamericanminerals.com. The most economically significant hole was DDH-LAT-43 which intersected 1.27 metres (from 84.50m to 85.77m) averaging 45.30 gpt Au, including 0.48 metres averaging 111.15 gpt Au, which contains visible gold.

DDH-LAT-43 is located 100 metres northeast along strike from the discovery hole DDH-LAT-11 drilled in 2007 that intersected 6.5 metres averaging 26.64 gpt Au, including 0.5 metres averaging 138.38 gpt Au, 4.0 metres averaging 43.08 gpt Au and 0.5m averaging 105.51 gpt Au.

Based on the encouraging exploration results, management believes the project has excellent exploration potential and has quantified this potential by defining a Potential Mineral Deposit at Paso Yobai. Latin American Minerals estimates the 1,200 metre long Discovery Zone may contain a Potential Mineral Deposit ranging from 450,000 to 900,000 tonnes with grades ranging from 4.0 to 7.0 gpt gold. By extension, the entire Paso Yobai gold trend, which has been continuously traced along strike for 8 kilometres could host a Potential Mineral Deposit ranging between 3,500,000 and 7,000,000 tonnes of similar grade.

The Potential Mineral Deposit at Paso Yobai has been inferred based on the encouraging results over the past two years from the following exploration activity:

- 3,000 line kilometres of helicopter borne magnetometer and electromagnetic survey

- 100 line kilometres of ground magnetometer survey

- 14,000 geochemical soil samples collected and analyzed

- 2,000 rock chip and channel samples collected and analyzed

- 11 mechanical trenches comprising 450 metres

- 47 diamond drill holes totalling 6,600 metres

The majority of the exploration activity was completed on the Discovery Zone, which has been traced along strike for approximately 1,200 metres and is open along strike to the northwest and southeast. Results of this work included:

- Excavation of 11 trenches: the average grade of the samples collected across the high grade lenses exposed in Trench 1 through Trench 7 is 23.08 gpt Au over an average width of 0.93 metres. Trenches 8, 9 and 10 were excavated in areas already disturbed by local miners and returned lower gold values.

- Drilling of 19 holes: the weighted average grade of the high grade lenses intersected in the drilling is 7.0 gpt Au over 2 metres, containing a high grade core traced along strike for 200 metres averaging 29.6 gpt over 3.8 metres.

The potential quantity and grade of the Potential Mineral Deposit is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

"Latin American's estimate of the Potential Mineral Deposit at Paso Yobai is encouraging," said Dr. George Cargill, President of Cargill Consulting Geologists and independent Qualified Person for Latin American Minerals. "More drilling is required to define the high grade shoots discovered in holes DDH-11 and DDH-43, and to define any other similar high grade shoots along the 8 kilometre strike length of the dyke."

Dr. Waldo Perez, P.Geo., is Latin American Minerals' internal Qualified Person under the requirements of National Instrument 43-101 and is responsible for this press release.

Latin American Minerals Inc. is a mineral exploration company focused on the acquisition and development of gold and other mineral projects in 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 ALS CHEMEX Laboratories (ALS). ALS is a certified laboratory with facilities in Santiago, Chile. 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 ALS laboratories in La Serena, Chile. 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.

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 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, unless otherwise required by applicable securities laws. 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.

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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