Latin American Minerals Inc.

Latin American Minerals Inc.

August 26, 2009 12:39 ET

Latin American Minerals Update: Lithium Americas Corp. Announces Private Placement

TORONTO, ONTARIO--(Marketwire - Aug. 26, 2009) - Latin American Minerals Inc. (TSX VENTURE:LAT) ("LAT") has been advised that Lithium Americas Corp. ("Lithium Americas"), a private company in which LAT has approximately a 31% equity interest, intends to shortly close a private placement to raise gross proceeds of $7.5 million for exploration work on Lithium Americas' lithium and potassium brine properties in the lithium brine district of Puna, Argentina. One significant strategic investor in the Lithium Americas private placement will have Lithium Americas board representation, a pre-emptive right to maintain and in certain circumstances increase its equity interest in Lithium Americas and an option to acquire a percentage of any lithium production from the Lithium Americas properties provided that it maintains its equity interest in Lithium Americas and provides a loan for part of the funds necessary to build the mine following a positive feasibility study. LAT's current interest in Lithium Americas will decrease to approximately 20%, representing 8,400,000 common shares, following closing of Lithium Americas' private placement.

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.

Investors are invited to visit the Latin American Minerals IR Hub at where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

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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