SOURCE: Sao Luis Mining, Inc.

February 27, 2007 16:05 ET

Sao Luis Mining Names Michael J. Dillon New President and Board Chairman

LAS VEGAS, NV -- (MARKET WIRE) -- February 27, 2007 -- Sao Luis Mining, Inc. (PINKSHEETS: SAOL), a diamond and precious metals mining and exploration company, has named Michael J. Dillon as its new President and Chairman of the Board, replacing Jack Lake who had held those same positions since the Company's inception. Mr. Lake left the company to concentrate on his other business interests, but shall continue to assist the Company during this management transition. Mr. Dillon and the Board of Directors expressed their appreciation to Mr. Lake for helping to launch Sao Luis Mining and bringing it to the point where it is an operating company mining diamonds.

Prior to joining Sao Luis Mining, Mr. Dillon has held executive management positions with several successful companies. He was CEO of McDill Investments, a firm specializing in mergers and acquisitions, as well as launching startup companies and assisting them in going public. Mr. Dillon also served as Vice President of Petroleum Card Services as well as Vice President of Nutritional Supply Corporation. He has previous experience in the diamond mining industry as a consultant and member of the Advisory Board of Juina Mining.

About Sao Luis Mining:

Sao Luis Mining, Inc. 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. 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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