Latin American Minerals Inc.

Latin American Minerals Inc.

October 15, 2007 09:25 ET

Latin American Minerals Reports Partial Soil Geochemical Results Identify Three Anomalous Gold Zones on its Paso Yobai Gold Project in Paraguay

TORONTO, ONTARIO--(Marketwire - Oct. 15, 2007) - Latin American Minerals Inc. (TSX VENTURE:LAT) announces that it has received encouraging results from the initial batch of soil geochemical samples collected at Paso Yobai. In July, LAT announced the start of a large detailed soil geochemical sampling program (10,000 samples) over the central portion of the Property. Results have been received for approximately 2,861 samples.

The Paso Yobai Project is located in southeastern Paraguay, approximately 150 kilometers east of Asuncion, the capital of Paraguay. The Property covers approximately 32,250 hectares. Gold was discovered at Paso Yobai in 1996 by local prospectors. Since that time local miners have extracted gold from numerous pits which have continuously exposed the gold bearing zone (quartz manganese and quartz pyrite veins, parallel veins and stockwork with visible gold) along a northwesterly strike for 3.7 kilometres.

Mr. David Wahl, President and CEO reports that "...the initial geochemical results are very encouraging and confirm the potential existence of more gold zones on the Property in addition to the one currently being exploited by local miners; furthermore, within the gold bearing corridor there appears to be a coincident relationship between the gold anomalies and the magnetic and electromagnetic anomalies identified during the 2,644 line-kilometre VTEM and magnetometer surveys completed in May. This correlation will aid in prioritizing drill targets."

The partial geochemical soil sample results outlined three new gold anomalies referred to as A-1, A-2 and A-3. Please refer to the Paso Yobai maps, which show the gold geochemical results superimposed on the magnetometer and electromagnetic maps.


This gold anomaly defines the southeastern portion of the known gold bearing zone, currently being exploited by local miners and its extension to the southeast.

- The anomaly is approximately 200 metres wide and 1,000 metres long and is outlined by gold values greater than 20 ppb to a maximum of 311 ppb. The anomaly is currently open to the northwest and is coincident with a magnetic anomaly, which defines the regional mafic dyke know to be related to the gold mineralization on the Property.

Given the direct relationship between the magnetic anomaly, the mafic dyke and the evolving geochemical gold anomaly, LAT believes potential exists for this anomaly to continue to the northwest.


Potentially the most significant gold anomaly on the Property, this anomaly is located in the northwest portion of LAT's Minera Guaira mining concession.

- This anomaly is currently defined on four grid lines and is outlined by gold values greater than 20 ppb over an area of approximately 100 hectares. The core of the anomaly, with gold values greater than 100 ppb to a maximum of 667 ppb is approximately 750 metres long and 150 metres wide.

The A-2 soil anomaly is coincident with the northwest extension of the magnetic anomaly associated with the A-1 soil anomaly. It is also associated with a large electromagnetic anomaly which can be trace along strike to the southeast for approximately 4 kilometres. Management believes these characteristic make the A-2 soil anomaly very significant and it is reasonable to assume that the anomaly will continue to the southeast.


This anomaly or cluster of gold anomalies is located approximately 600 metres south of the known gold bearing zone and can be locally traced along a northwesterly strike for almost 1.5 kilometres.

- This anomalous trend is outlined by gold values greater than 20 ppb to a maximum of 103 ppb and is open alone strike to the northwest.

Dr. Waldo Perez, Sr V.P. Exploration states "...the significance of the soil results is that they expand the known mineralized corridor of Paso Yobai from 3.7Km to 5.7Km and is still open. This soil program will allow us to improve our targeting for the drill program..."

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

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.


The soil samples were collected on northeasterly trending grid lines established at 250 metre intervals perpendicular to the known mineralized trend. Individual samples were collected at 25 metre intervals on all grid lines. The sample was collected below the level of organic matter, between 0.8 and 1.2 metre deep. A total of 5 kilogram sample was collected and sieved to -150#. Several tests have been done at different depth and grain size in known mineralized zones to maximize reproducibility and minimize nugget effects. All of the samples were collected by qualified technician and/or qualified technicians under the direct supervision of the project geologist.

The samples were tagged with a pre-numbered tag and bagged in micropore bags to allow humidity to evaporate. The samples were sent to the preparation facility of Lat in Paso Yobai that is supervised by Alex Stewart Assayers Argentina S.A. ("ASAA"). The samples were dried in stainless steal containers at 80 degrees C and sieved at -140# mesh. In those cases that small pellets were formed during drying due to high clay content of the sample the pellets were crushed by hand using a stainless steal ball. After drying and sieving the sample was split as many times as needed to obtain a 200 gram pulp that is shipped by a company truck from Paso Yobai to Asuncion and by an international courier from Paraguay to Mendoza Argentina to the laboratories ASAA in Mendoza (Argentina). ASAA is an ISO 9001-certified laboratory with headquarters in England. 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 and certified reference standards.

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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