Latin American Minerals

La minera canadiense Latin American Minerals dio a conocer que suscribió una carta de intención con una empresa argentina de capital cerrado para adquirir la totalidad de una propiedad de 9.033ha en el salar de Cauchari, en Argentina, que contiene mineralización de litio.

Con la adquisición, la empresa aumentará su propiedad en Cauchari a 10.594ha, o cerca de un 75% de todo el salar. La empresa acordó pagar un precio de u$s 500.000 en cuotas durante un plazo de cuatro años y el primer año desembolsará u$s 25.000.

PRESS RELEASE ORIGINAL

Latin American Minerals Inc. Acquires Lithium Project in Argentina Following Positive Initial Sampling Program

TORONTO, ONTARIO, Nov 13, 2008 -- Latin American Minerals Inc. (the "Corporation" or "Latin American") has signed a letter of intent with a private party in Argentina to enter into an option agreement to acquire a 100% interest in 9,033 hectares of the Cauchari Salt Lake, thereby expanding its current ownership to 10,594 hectares, or approximately 75% of the entire Cauchari Salt Lake. The acquisition involves escalating payments totalling US$500,000 to be paid over 4 years, with an initial payment of US$25,000 in the first year.

Latin American Minerals currently has staked over 93,000 hectares in the region (see attached Map 1: "Location of Latin American Minerals Inc.'s Salares Potash-Lithium Project showing location of mineral properties and crust and brine samples"). The region hosts one of the largest concentrations of economic evaporite deposits, including the world's largest lithium producer, SQM (Sociedad Quimica y Minera de Chile S.A.) in the Atacama Salt Lake, and the fifth largest lithium producer, FMC Corp., in the Hombre Muerto Salt Lake.

Final results of 40 salt lake brine samples and 64 crust lake samples collected along selected sectors of Latin American's properties confirm outstanding lithium and potash grades in crusts and brines.

In the Cauchari Salt Lake, 7 crust samples and 4 brine samples were collected. High lithium, boron and potassium grades were found in both crust and brine samples. Additionally, very low magnesium concentration results suggest these brines are amenable to simple separation of lithium in evaporation ponds (Mg/Li less than 6). The results of selected samples collected in the Cauchari Salt Lake are as follows:



Encouraging results have also being received from the Incahuasi Salt Lake, where 17 brines and 17 crust samples have been collected. Incahuasi Salt Lake shows high potassium content in the brines. Lithium concentrations are also encouraging with consistently high values, but the higher magnesium content of these brines suggests the lithium would be more expensive to extract than in the Cauchari Salt Lake. Selected results in Incahuasi Salt Lake are as follows:



Latin American's exploration program in Pocitos and Arizaro Salt Lakes has also yielded encouraging results. In Arizaro, a total of 11 brine and 28 crust samples have been collected. In Pocitos, 7 crust and 6 brine samples have been collected. The best brine results obtained in Incahuasi, Cauchari, Pocitos and Arizaro are compared with producing mines from different camps of the world in the following table:



Dr. Waldo Perez, Latin American's Senior Vice President of Exploration, reports, "Initial results are very encouraging, so we will continue our exploration program as planned. We will focus on Cauchari and Inca Huasi, where we obtained the best results. We will monitor the evolution of the brine chemistry with evaporation, the porosity/permeability of the deposit, and the hydrologic mass balance of each lake. We anticipate using this information to establish a resource that can move rapidly to feasibility and development."

"We are in a camp that hosts the largest lithium reserve in the world and significant potash and boron reserves. Our methodical approach to exploration is starting to yield results," reports David Wahl, President and CEO of Latin American Minerals

Dr. Waldo Perez, P.Geo., is Latin American Minerals Inc.'s internal Qualified Person under the requirements of National Instrument 43-101 and is responsible for this press release.

Latin American Minerals Inc. is a mineral exploration company focused on the acquisition and development of mineral projects in under-explored but highly-prospective countries of Latin America.

Sampling and Analytical Protocols: Sampling and analytical protocols were implemented and supervised by or under the direction of Dr. Waldo Perez, the Corporation's internal Qualified Person as defined by National Instrument 43-101. All of the lithogeochemical samples were collected by geologists taking into account the nature of the material being sampled. The crust sample was collected with a hammer from surface, weighted between 2 to 4 kilograms and was collected in a plastic bag, tagged with a pre-numbered ticket and tightly closed with plastic tape. The brines samples were collected in a brand new plastic bottle filled atop containing 1 litre of brine and tightly closed. All samples were tagged with a pre-numbered ticket and stored in a secured location at the base camp for no more than 10 days. The brines were stored in a dark room. The samples were shipped by courier to Alex Stewart Assayers Argentina S.A. ("ASAA") laboratories in Mendoza (Argentina). ASAA is an ISO 9001-2000-certified laboratory with headquarters in England. The crust samples were grinded to #200 mesh, then split and dissolved in hot water. A total of 500 ml of sample have been separated for ICP analysis. The brine samples were filtered and read directly by ICP analysis. All samples were assayed for 13 elements by ICP. Accuracy and precision of results is tested through the systematic inclusion of blanks and duplicates. This news release contains forward-looking statements, which can be identified by the use of statements that include words such as "could", "potential", "believe", "expect", "anticipate", "intend", "plan", "likely", "will" or other similar words or phrases. These forward-looking statements, including statements regarding the Corporation's beliefs in potential mineralization, are based on current expectations, assumptions and projections about future events and entail various risks and uncertainties that are beyond the Corporation's ability to control or predict. Actual results may materially differ from expectations as more information regarding a property is gathered or if the Corporation's estimates or assumptions prove inaccurate. Factors that may materially affect actual results include, but are not limited to, political, business and economic conditions in Argentina and in jurisdictions where the Corporation conducts business, and risks associated with mineral exploration and production. The Corporation does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Readers should not place undue reliance on forward-looking statements. The results described herein are exploratory in nature and there can be no assurance that they are indicative of Mineral Resources as defined in accordance with National Instrument 43-101.