SOURCE: Sao Luis Mining, Inc.

January 31, 2008 09:45 ET

Sao Luis Mining in the "CHEAP INVESTOR"

GARDNERVILLE, NV--(Marketwire - January 31, 2008) - Sao Luis Mining, Inc. (PINKSHEETS: SAOL) (FRANKFURT: F5G) (www.saolmining.com) has been recommended as an investment opportunity in the February "CHEAP INVESTOR" newsletter.

Mathews and Associates have published The "CHEAP INVESTOR" newsletter since 1981. The monthly newsletter specializes in recommending quality microcap and turnaround stocks under $5 per share. Each 12-page issue includes an editorial covering market, economic or investor commentary, three or four buy recommendations, and updates on some previously recommended stocks. For more information visit: http://www.thecheapinvestor.com/.

The "CHEAP INVESTOR" newsletter announced this publication was rated as the #1 Best Performing Market Letter by Select Information Exchange (http://www.siecom.com/). The award was for the latest five-year evaluation period ended October 13, 2006. Select Information Exchange regularly monitors the performance of some 300 different investment newsletters. In addition, The "CHEAP INVESTOR" just celebrated its 26th anniversary in print. The newsletter is a monthly guide specializing in quality microcap and turnaround stocks selling under $5 per share.

"Our research concentrates on quality companies with increasing revenues and earnings that are selling near their 52-week low price; and that is our key to success. We strive to recommend stocks that have great profit potential. Very simply, our subscribers are buying when most institutions and Wall Street investors are selling. When Wall Street finally realizes what a bargain these stocks are and the price shoots upward, 'CHEAP INVESTOR' subscribers can sell for a great profit.

"This year we saw three of our recommendations hit record highs. On January 30, 2007, CarMax, Inc. soared to $29.44 (equivalent to $58.88 after factoring in 2 for 1 split or +3674%) from our $1.56 buy in February 2000. On May 9, 2007, PetSmart, Inc. flew to $35.45 (+1318%) from our January 2001 recommendation at $2.50. And on July 13, 2007, Pre-Paid Legal Services, Inc. skyrocketed to $71.49 (+5357%) from our buy at $1.31 in the August 1994 issue."

Bill Mathews' latest book is "Making BIG Money in Small Stocks." The book is an intelligent, straightforward guide to choosing quality stocks, buying them at the lowest price and selling them for the best profit. It is filled with practical wisdom, solid techniques and numerous tips and ideas that will enrich the reader's understanding of stocks and how they relate to the market, revealing opportunities for profitable investments open to those willing not to follow the crowd.

About Sao Luis Mining:

Sao Luis Mining, Inc. (PINKSHEETS: SAOL) (FRANKFURT: F5G) is a 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 with their joint venture partner, SL Mineradora LTDA. 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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