SOURCE: Sao Luis Mining, Inc.

April 23, 2007 05:00 ET

With End of Brazilian Rainy Season, Sao Luis Mining Will Accelerate Bulk Sampling Program With Purchase of Additional Processing Plant for Its Diamond Properties

GARDNERVILLE, NV -- (MARKET WIRE) -- April 23, 2007 --Sao Luis Mining, Inc. (PINKSHEETS: SAOL) (Frankfurt: F5G) (, a "conflict free" diamond mining and precious metals exploration company, has accelerated the purchases of an additional environmentally friendly Extrac-Tec mobile bulk sampling and processing plant for its Brazilian Joint Venture Diamond Properties.

"Now that the rainy season is over," says Michael J. Dillon, the Company's President and Chairman, "we are bringing in additional equipment and mobile plants to quickly begin to capitalize our Brazilian Diamond Properties based on the positive geological and bulk sampling reports we have received."

"Recent bulk samplings from the test pits on Property 117 have all produced significant numbers of diamonds, and verified rich diamond bearing alluvial gravels," continued Mr. Dillon. "If we couple these results with the geological surface report on Property 231 that already estimates a surface resource of over 12.7 million carats of diamonds, we may be looking at well over $300 million in diamonds at today's prices, without even taking into account diamonds at lower depths."

Sao Luis Mining's latest purchase is a 10 ton per hour bulk sampling plant manufactured by Extrac-Tec. It will supplement the Company's 40 ton per hour processing plant and allow the Company to sample and locate additional diamond deposits and determine the grades quickly. This will allow Sao Luis Mining the opportunity to process richer gravels with the 40 ton per hour plant once higher grade diamond deposits have been located. The plant will also serve to delineate and define future diamond bearing gravels that will increase the total resources contained on the properties.

Production capacity is expected upwards of 10,000 carats per month, with the addition of a second laser diamond sorter. Upon installation of both Extrac-Tec plants, the Company intends to further increase the diamond production capacity with the addition of larger processing facilities and laser diamond sorters.

The Extrac-Tec Heavy Particle Concentration (HPC) technology allows for cost-effective gravity separation of materials of differing densities. The mobile plants are self-contained 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) (Frankfurt: F5G) ( 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

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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