SOURCE: Sao Luis Mining, Inc.

March 28, 2007 16:51 ET

Sao Luis Mining, Inc. Prepares to Ship New Processing Plant to Their Brazilian Diamond Properties

Addition of New 40 Ton per Hour Plant Can Boost Diamond Production Upwards of 10,000 Carats a Month

GARDNERVILLE, NV -- (MARKET WIRE) -- March 28, 2007 -- Sao Luis Mining, Inc. (PINKSHEETS: SAOL) (FRANKFURT: F5G) (www.saolmining.com), a "conflict free" diamond mining and precious metals exploration company, anticipates that their first Extrac-TEC 40 ton per hour mobile pilot processing plant will be shipped from South Africa for their joint venture diamond properties in Juina, Brazil by the third week in April.

The processing capabilities of the new plant can increase the production capacity upwards of 10,000 carats per month, with the addition of a second laser diamond sorter. Upon installation and test mining, the Company intends to order at least one additional 100 ton per hour plant.

The Extrac-TEC Heavy Particle Concentration (HPC) technology allows for cost-effective gravity separation of materials of differing densities. The new patented transverse spiral belt separator boasts recovery rates of 95%-98%. Trials run using diamonds tracers have shown a recovery rate of 100%. The mobile plant is self-contained, allowing for easy transportation and set up within hours. It utilizes a continuous process with a simple, secure and highly efficient final recovery stage that is environmentally friendly with no chemicals and reduced water use.

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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