SOURCE: IO Circuit

September 18, 2006 07:22 ET

(OTC PK: SAOL) Signs Agreement With South Africa's Chase Diamonds

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit.

LAKE HARMONY, PA -- (MARKET WIRE) -- September 18, 2006 -- Sao Luis Mining, Inc. (PINKSHEETS: SAOL), a diamond mining and precious metals exploration company, has announced an agreement with South Africa's Chase Diamonds C.C. to represent the Company's production from its Brazilian diamond mining operations at the South African tenders.

The tenders are held at locations throughout the country. Chase Diamonds is one of only 65 government-licensed diamond dealers allowed to attend the largest free market tender held approximately every two weeks at Wolmaransstad, a diamond trading center. Buyers from around the world gather at the auction to bid on a minimum of $25,000,000 in diamonds offered for sale through a bidding system that ensures fair market value on production. Chase Diamonds supplies the South African and international markets with rough and polished stones produced in its own factory.

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