SOURCE: Sao Luis Mining, Inc.

March 02, 2007 06:00 ET

Sao Luis Mining Appoints an Internationally Regarded Business Executive and a Diamond Industry Marketing Expert to Its Board of Directors

LAS VEGAS, NV -- (MARKET WIRE) -- March 2, 2007 -- Sao Luis Mining, Inc. (PINKSHEETS: SAOL) (www.saolmining.com), a "conflict free" diamond mining and precious metals exploration company, has named Stephan P. Müller, who has held senior executive management positions with such well known companies as Eurocellular, Apple Computer Europe and Reuters Switzerland, and Louis Pearl, G.G., a graduate Gemologist, with considerable diamond marketing and sourcing expertise, to its Board of Directors.

"We are delighted that both these renowned professionals will serve on the Board of Directors," says Michael J. Dillon, the Company's President and Chairman. "Mr. Müller's international business and financing expertise, coupled with his understanding of and contacts in the world's public securities markets, will be of inestimable value to our Company. In turn, Mr. Pearl's expertise in all aspects of diamond sourcing, marketing and merchandising, will provide us with important inroads within the diamond industry."

Stephan P. Müller, an internationally regarded business executive with more than 20 years of senior executive management positions as CEO, CFO, COO in several international companies. This includes: CEO of Eurocellular and Commercial Director for Apple Computer Europe (Europe, Central & Eastern Europe, Middle East and Africa) with P&L responsibility for $2 billion (USD) in sales. He served as CEO and a member of the Board of Directors of Apple Computer Ltd., Switzerland. Prior to this, he was General Manager, Industrade Ltd., Wallisellen, Zürich (Apple products), and COO of Pelikan International Corp with a turnover of CHF 1 billion. Mr. Muller also served as the CFO/COO of Reuters Ltd., Zürich, Switzerland. He is a graduate of the Federal Institute of Technology, Zürich (ETH Zürich) in Construction Engineering and the prestigious University of Zürich, Switzerland, where he was awarded a degree in Business Economics

Louis Pearl, G.G. (Graduate Gemologist) has over 30 years of extensive experience in the diamond industry encompassing all aspects of buying, selling, and sourcing diamonds. He is especially skilled at working with manufacturers, wholesalers and major retail chains. Currently he is President of Lad Diamond, LLC, a Los Angeles, California-headquartered international diamond wholesaler that is an affiliate of L.P. Diamond & Gem Corp. Prior to this he served as President of L.P. Diamond & Gem Corp., an import firm that specialized in the sales of loose diamonds to large retail chain stores. Previously he was President of L.P. Diamond Co., a diamond broker that primarily sourced and sold diamond goods to manufacturers, wholesalers and retail chains. He began his management career as West Coast Regional Sales Director for Fabrikant & Co., a major diamond and jewelry manufacturer and wholesaler.

About Sao Luis Mining:

Sao Luis Mining, Inc. (PINKSHEETS: SAOL) is a "conflict free" diamond mining and precious metals exploration company. Its strategy is to acquire interests in producing mines and develop properties that have the promise to be economically viable. Sao Luis Mining has a 51% joint venture interest in Comercio e Mineracao Sao Luis Ltda., which operates two diamond properties and an existing processing plant in the Sao Luis River Basin. The operation is located in the state of Mato Grosso, which is the most productive diamond district in Brazil and responsible for 61% of all the legally mined diamonds in Brazil in 2005. Additional information, including a photo gallery and geological report, is available at the Company's website www.saolmining.com.

Forward-Looking Statements:

This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate," "expect," "anticipate," "projected," "planned," forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, not guarantees of Sao Luis Mining, Inc.'s future operational or financial performance, and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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