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Showing posts with label goldmines. Show all posts
Showing posts with label goldmines. Show all posts

Monday, November 26, 2012

San Gold Drills 15.5 g/t Over 11.1 m in 710 Lens

San Gold CorporationSan Gold Corporation

TSX : SGR
OTCQX : SGRCF

November 26, 2012 07:00 ET



WINNIPEG, MANITOBA--(Marketwire - Nov. 26, 2012) - George Pirie, President and Chief Executive Officer for San Gold Corporation (TSX:SGR) (OTCQX:SGRCF), is pleased to announce recent results from drill hole 607-12-048 in the 710 lens featuring multiple intercepts including 15.5 g/T over 11.1 metres and 12.0 g/T over 6.0 metres within the Company's 100% owned Rice Lake Project located in Bissett, approximately 235 kilometres northeast of Winnipeg, Manitoba, Canada. The Rice Lake Project has a permitted, modern gold mill currently processing ore at a capacity of 2,500 tons per day, modern surface infrastructure including a licensed tailings management facility, and is connected to the Manitoba power grid system.

The 710 lens is located within the Shoreline Basalt mining unit, adjacent existing infrastructure, and has been delineated between 1,100 and 1,300 metres below surface with a strike of approximately 200 metres. The company is currently developing access to the 710 lens and anticipates mining operations to begin in early 2014.

"These results emphasize the down-dip potential of these deposits, none of which have yet been tested below 1,500 metres. While we continue to aggressively develop the deposits located near surface, these results indicate that we are still only beginning to see the full potential of this property," said Mr. Pirie.

Drilling Results:
Hole Zone From
(m)
To
(m)
Core Length
(m)
Grade
(g/T)
Below
Surface (m)
607-12-048 Shoreline Basalt 290.1 296.1 6.0 12.0 1322.5
including 292.9 294.0 1.1 62.3
Shoreline Basalt 359.7 363.5 3.8 8.7 1354.8
Shoreline Basalt 381.9 392.9 11.1 15.5 1368.2
including 386.5 392.6 6.1 24.0
Shoreline Basalt 400.7 401.1 0.4 18.1 1373.4
(1) The intersections presented herein may not necessarily represent the true width of mineralization.
Figure 1 at the end of this release provides a longitudinal section of drill hole 607-12-048 in relation to the delineated portion of the 710 lens.
Figure 2 at the end of this release provides a plan view of drill hole 607-12-048 in relation to the delineated portion of the 710 lens.
Figure 3 at the end of this release provides a plan view of drill hole 607-12-048 in relation to the existing 30 Level infrastructure.
Underground drill core samples are assayed on site in the company's assay lab using the fire assay method with an AA and gravimetric finish. San Gold's quality control and assurance program includes the insertion of standards, the retention of pulps and rejects, and spot checks utilizing independent labs including TSL Laboratories in Saskatoon, SK and Accurassay Laboratories of Thunder Bay, ON. The core lengths are actual lengths as drilled and have not been adjusted for the true width of the mineralized zones.
This drilling program was carried out by San Gold mine geologists under the supervision of D. Ginn, P.Geo., the Qualified Person for San Gold under National Instrument 43-10, who has reviewed and approved the press release.
About San Gold
San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Hinge, 007, and Rice Lake mines near Bissett, Manitoba. The Company employs more than 400 people and is committed to the highest standards of safety and environmental stewardship. San Gold is on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".

Cautionary Note
This news release includes certain "forward-looking statements". All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding forecast gold production, gold grades, recoveries, cash operating costs, potential mineralization, mineral resources, mineral reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable mineral reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of precious metals, as well as those factors discussed in the section entitled "Other MD&A Requirements and Additional Disclosure and Risk Factors" in the Company's most recent quarterly Management's Analysis and Discussion ("MD&A"). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics, and economic potential to be classed as a category of mineral resource. A mineral resource that is classified as "inferred" or "indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves.
To view the figures associated with this release, please visit the following links:
Figure 1 : http://media3.marketwire.com/docs/SGR4.pdf
Figure 2 : http://media3.marketwire.com/docs/SGR5.pdf
Figure 3 : http://media3.marketwire.com/docs/SGR6.pdf
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information


San Gold Corporation
George Pirie
President and CEO
Toll Free: 1 (855) 585-4653
info1@sangold.ca

San Gold Corporation
Manish Grigo
Director Investor Relations
Toll Free: 1 (855) 585-4653
www.sangold.ca
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Thursday, September 13, 2012

TNR Gold Intersects 242 Metres of 1.25 g/t Gold on New Geophysical Target at Shotgun Ridge Project

 VANCOUVER, British Columbia, Sept. 13, 2012 /PRNewswire/ -- TNR Gold Corp. ("TNR" or the "Company") (TSXV: TNR) is pleased to announce the assay results from the first hole of the drilling program at the Shotgun gold property in Alaska.  Drill hole SR12-56 returned 242 metres averaging 1.25 grams per tonne gold including several higher-grade intercepts.  The 30-day exploration program included 814 metres of drilling and three geophysical survey grids.
  • Drill hole SR12-56 returns mineralized interval of 242.22 metres averaging 1.25 grams per tonne gold.
  • Included within this interval is 114.22m averaging 1.84 g/t Au.
  • Hole ended in mineralization at target depth of 293.22 metres.
  • Mineralized zones are open at depth and coincident with geophysical anomalies found in 2011.
  • Assays pending for two more holes.
Drilling ResultsDiamond drill hole SR12-56 was oriented parallel and approximately 50m northwest of SR06-43 (previously reported containing 210 metres averaging 1.3 g/t Au).  Three zones identified by more intense brecciation and increased gold grades correlate well between the two holes.  These new results significantly reinforce confidence in the specific orientation of these southwest dipping mineralized higher-grade zones and how to target them with future drilling.  In addition to testing for continuation of mineralized zones encountered in SR06-43, the new hole targeted an untested geophysical anomaly identified by the 3D geophysical survey in 2011.  The strongest mineralization encountered in hole SR12-56 is coincident with where this geophysical anomaly was intersected.  The hole ended in mineralization at target depth of 293.22m.


From
To
Width
Au g/t
Entire intrusive
51.00
293.20
242.20
1.25





    Including (SW-zone)
55.50
104.35
48.85
1.02





    Including (Mid-zone)
135.00
159.20
24.20
0.85





      Including (NE-zone)
179.00
293.22
114.22
1.84
                    Containing
186.00
242.00
68.00
2.05
            which includes
203.90
226.00
22.10
2.86
            And containing
264.30
277.45
13.15
3.12
            Which includes


1.95
11.2





Cross section and plan map images showing SR12-56 are available on the Company's website, http://www.tnrgoldcorp.com

Drilling targeting was aided by 2011 geophysical surveys results.  Higher grades within the NE-zone in hole 12-56 are associated with a chargeability high feature that suggests the mineralization continues at depth.  Preliminary results of the 2012 geophysical survey are currently being interpreted.

"The Company is extremely pleased with these results and how they support our exploration model for identifying bulk minable gold targets at the Shotgun project.  As reported previously, the geology logged in the drilling correlated well with previous work and looked very encouraging.  The assays in the first hole have started to confirm this" comments John Harrop, VP Exploration.

About the Shotgun Gold ProjectTNR holds a 100% interest in the Shotgun property located 175 kilometres south of Donlin Creek within the Kuskokwim Gold Belt in southwestern Alaska. This area is emerging as a world-class gold district hosting more than 40 million ounces of aggregated gold resources. The Shotgun property includes a number of prospects, including Shotgun Ridge and nearby Winchester. Donlin is an intrusion-associated system and represents one of the largest undeveloped gold deposits in the world. The Company believes that there are several key similarities between prospects on the Shotgun property and that of the Donlin Creek gold deposit as well as other important intrusion-associated deposits.
John Harrop, PGeo, FGS, a Qualified Person for the Company as defined by National Instrument 43-101 Standards of  Disclosure for Mineral Projects  has reviewed the technical information contained in this news release.
About TNR Gold Corp.Over the past twenty-one years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company's expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio.

TNR's recently listed subsidiary, International Lithium Corp. (TSXV) (ILC), demonstrated the successful application of TNR's business model in which TNR shareholders benefited from a unit distribution upon spin-out of TNR's lithium and rare metals projects. Ganfeng Lithium Co. Ltd. is a leading China based, multi-product lithium manufacturer, and strategic partner and investor in ILCTNR remains a large shareholder in ILC holding 25.5% of ILC's outstanding shares.

At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina; and teamed with the recent acquisitions of rare-earth elements and iron ore projects in Canada confirms TNR's commitment to continued generation of in-demand projects, while diversifying its markets and building shareholder value.

On behalf of the board,
Gary SchellenbergPresident

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Symbol: TNR:TSXVCUSIP: #87260X 109SEC 12g3-2(b): Exemption #82-4434
620 - 650 West Georgia StreetVancouver, British ColumbiaV6B 4N9, Canada Voice: (604) 687-7551Fax: (604) 687-4670 1-800-667-4470E-mail: info@tnrgoldcorp.com
Website: http://www.tnrgoldcorp.com
Twitter:  @TNR_Gold

SOURCE TNR Gold Corp.
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Thursday, May 3, 2012

Brigus Gold Report production targets on rise!

Brigus Gold is on Track to Hit Q2 Production Target (bwire)

HALIFAX, Nova Scotia, Canada (Business Wire) -- (NYSE Amex: BRD; TSX: BRD) – Brigus Gold Corp. (“Brigus” or the “Company”) is pleased to announce that it produced 7,088 ounces of gold at an average grade of 3.66 grams per tonne (gpt) in April, putting the company on track to meet its second quarter guidance of 18,000 to 21,000 ounces of gold.

     
     
   
Month       Ounces Produced       Average Grade


January       5,128       2.81


February       4,842       2.72


March       6,952       3.55


April       7,088       3.66













 
“We are pleased with production growth at our Black Fox Mine,” said Wade Dawe, Brigus' President and CEO. “Current production levels put us on track to meet the upper range of our guidance for the second quarter.”

Production from the underground mine will steadily increase through the year as the Company adds additional mining faces and development progresses towards larger ore zones at depth.
The open pit is performing well, grades are rising as the Company mines deeper into Phase 2, and the operating strip ratio continues to decline.

The mill processed 62,452 tonnes of ore at an average grade of 3.66 gpt and an average recovery of 96.5% in April.
Costs are expected to be lower than originally forecasted for the first quarter of 2012 and will continue on this trend in the second quarter.

OUTLOOK
Brigus continues to forecast gold production of 77,000 to 85,000 ounces for 2012:

     
     
     
   
2012       Low       High       Actual


Q1       15,500       17,000       16,922


Q2       18,000       21,000        


Q3       21,500       23,000        


Q4       22,000       24,000        


Total       77,000       85,000        

















 
Cash costs are targeted at $775 - $825 per ounce for the year, declining to approximately $700 per ounce at steady state production levels of 104,000 ounces per year in 2013.

About Brigus Gold
Brigus is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The Company operates the wholly owned Black Fox Mine and Mill in the Timmins Gold District of Ontario, Canada. The Black Fox Complex encompasses the Black Fox Mine and adjoining properties in the Township of Black River-Matheson, Ontario, Canada. Brigus is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus has granted Cangold Limited the option to acquire a 75% interest in the Company's Ixhuatan Project located in the state of Chiapas. In the Dominican Republic, Brigus has signed an agreement to sell its remaining interests in three mineral exploration projects.

Cautionary and Forward-Looking Statements
Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All statements regarding the ability of the Company to achieve its production, total cash costs, steady state annual production and mining rate estimates; estimated average gold grades for the open pit and underground operations; increase in gold production; increase in profitability; exploration drill results and resource additions, are forward-looking statements and estimates that involve various risks and uncertainties. This forward-looking statements include, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, the outcome of legal proceedings, the issue of permits, the size and quality of the Company's mineral resources, progress in development of mineral properties, future production and sales volumes, capital and mine production costs, demand and market outlook for metals, future metal prices and treatment and refining charges, and the financial results of the Company.

Important factors that could cause actual results to differ materially from these forward-looking statements include environmental risks and other factors disclosed under the heading “Risk Factors” in Brigus' most recent Annual Information Form and Management Discussion and Analysis filed under the Company's name at www.sedar.com and annual report on Form 40F filed with the United States Securities and Exchange Commission at www.sec.gov as well as elsewhere in Brigus' documents filed from time to time with the Toronto Stock Exchange, the NYSE Amex Equities, the United States Securities and Exchange Commission and other regulatory authorities. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.


Brigus Gold Corp.
Jennifer Nicholson, CA, (902) 442-7186
Executive Vice President
jnicholson@brigusgold.com
or
Katherine Burgess, (902) 442-7184
Manager, Stakeholder Relations
kburgess@brigusgold.com
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Thursday, April 7, 2011

San Gold Corp reports richer strikes a day after reporting production of gold is up in Q1

San Gold Corporation -www.sangold.ca 
George Pirie, President and CEO of San Gold Corporation (TSX: SGR) (OTCQX: SGRCF) is pleased to report that exploration step-out drilling from surface and underground has extended the 007 Zone to the east by as much as 100 meters, bringing the total strike length of the 007 zones to 500 meters to date.

Robust widths and grades are being encountered as drilling pushes the deposit eastward and to depth as demonstrated by the most easterly drill hole to date, # S915-11-33 which intersected 15.4 g/tonne (0.45 oz/ton) over 13.7 meters (45 ft) at a depth of 260 meters below surface. Deeper drilling below 300 meters is also extending the deposit to depth as shown by drill hole #CD-11-003 which intersected 17.8 g/tonne (0.52 oz/ton) over 4.2 meters (14 ft) and by #CD-11-13, cutting 56.5 g/tonne (1.65 oz/ton) over 2.6 meters (8.5 ft). The 25 intersections within 24 drill holes as reported below are located within a 220 meter long by 220 meter deep envelope beginning at 200 meters below surface at the eastern extremity of the 007 deposit.
All drill holes for which assays have been received within the 007 East Extension and Far East zones are listed below:
Hole #      From  To    Length      Gold           Zone
            m     m     m      ft   g/tonne oz/ton
CD-10-192   453.5 459.8 6.4    20.9 6.5     0.19   007E Ext
CD-10-193   351.8 358.1 6.3    20.8 51.0    1.49   007E Ext
CD-10-195   361.7 364.2 2.5    8.3  34.2    1.00   007E Ext
CD-11-01    374.8 380.5 5.7    18.6 18.5    0.54   007E Ext
CD-11-02    447.3 455.9 8.6    28.1 7.9     0.23   007E Ext
CD-11-03    405.6 409.8 4.2    13.9 17.8    0.52   007E Ext
S915-11-010 50.0  56.4  6.4    21.1 9.0     0.26   007E Ext
S915-11-011 42.0  55.2  13.2   43.4 11.6    0.34   007E Ext
S915-11-013 33.8  43.8  10.0   32.8 7.2     0.21   007E Ext
S915-11-014 50.7  63.2  12.5   41.0 11.6    0.34   007E Ext
S915-11-032 39.2  45.7  6.5    21.3 6.2     0.18   007E Ext
S915-11-040 41.1  49.5  8.4    27.5 14.3    0.42   007E Ext
S915-11-042 41.6  44.4  2.8    9.3  33.6    0.98   007E Ext
S915-11-050 52.2  57.0  4.8    15.6 43.5    1.27   007E Ext
S922-11-043 171.0 176.9 5.9    19.2 9.2     0.27   007E Ext
S922-11-047 133.2 134.1 0.9    3.0  185.3   5.41   007E Ext
and         144.8 148.5 3.7    12.0 11.3    0.33   007E Ext
S922-10-070 172.7 176.6 3.9    12.8 32.5    0.95   007E Ext
CD-11-11    436.4 438.6 2.2    7.2  25.0    0.73   007 Far East
CD-11-12    476.4 478.6 2.2    7.1  4.8     0.14   007 Far East
CD-11-13    439.3 441.8 2.6    8.5  56.5    1.65   007 Far East
CD-11-14    444.6 447.0 2.4    8.0  16.1    0.47   007 Far East
                                                   007 Far East
S915-11-033 128.4 142.1 13.7   44.9 15.4    0.45   007 Far East
S915-11-057 151.5 155.2 3.7    12.2 9.2     0.27   007 Far East
S915-11-062 111.6 121.9 10.3   33.7 17.1    0.50   007 Far East
"These results continue to demonstrate the size and strength of the gold  mineralization within the Shoreline Basalt. The discovery and  development of this new mine trend is an exciting new era for San Gold.  The success of our exploration efforts in these zones allows us to  execute our plan to develop a new mine complex and continues to support  the very aggressive drill program in place," said Mr. Pirie. 
Over 350 meters of 007 Zone strike length has been developed so far at the 260 meter level in preparation for mining. Mine development also continues to the west towards the L10 deposit, the second major deposit to be developed along the Shoreline Basalt.

The 007 zone is located approximately 2 km to the north-east of San Gold's operating Rice Lake Mine and mill, is fully accessible by road and is accessible from the Hinge Mine decline. The 007 Zone was initially discovered by San Gold geologists in November 2009 and mine development towards the zone began early in 2010 originating from the Hinge Mine. San Gold is on track to complete over 300,000 meters of diamond drilling in 2011, making it one of Canada's most aggressive gold exploration companies.

A detailed longitudinal section displaying the results obtained to date is available at the company's website: www.sangold.ca.

The surface drill program was carried out under the supervision of W.S. Ferreira, P.Geo., the Qualified Person for this project under National Instrument 43-101. The drill core was split, with half sent to TSL Laboratories in Saskatoon, SK and fire assayed with an AA and gravimetric finish. Whole metallic assays were performed on samples containing visible gold. Check assays were also performed on pulps and rejects by both TSL and by Accurassay Laboratories of Thunder Bay, ON. The underground drill program was carried out by San Gold mine geologists under the supervision of D. Ginn, P.Geo., the Qualified Person for San Gold under National Instrument 43-101. Underground drill core samples are assayed on site in the company's assay lab using the fire assay method with an AA and gravimetric finish. San Gold's quality control and assurance program includes the insertion of standards, the retention of pulps and rejects, and spot checks utilizing independent labs including TSL Laboratories in Saskatoon, SK and Accurassay Laboratories of Thunder Bay, ON. The core lengths are actual lengths as drilled and have not been adjusted for the true width of the mineralized zones.

The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied in the forward-looking information.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE San Gold Corporation
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Tuesday, April 5, 2011

SanGold announces increased production at Rice Lake Mines.

A principal scheme of a jaw crusher (movie)Image via Wikipedia
San Gold First Quarter Mine Production Outpaces Current Mill Capacity - 2 hours ago by CNW Group
TSX: SGR || OTCQX: SGRCF 

George Pirie, President and CEO of San Gold Corporation, (TSX: SGR) (OTCQX: SGRCF) is pleased to announce preliminary first quarter production and development results from the Rice Lake Project in Manitoba, Canada.

"Ore production from the company's two mines exceeded current mill capacity through the last half of the quarter, finishing the period with more than two weeks of ore stockpiled," said Mr. Pirie. "This is an important milestone for achieving steady-state production at the Rice Lake Project."

For the quarter ended March 31, 2011, San Gold milled and processed a record 82,792 tons, including both production and development ore, at a head grade of 7.1 g/tonne to produce 14,690 oz gold.

Thursday, March 10, 2011

San Gold - Promising Canadian producer confirms high grades in new zone!

March , 2011

Bissett, MB
TSX:SGR || OTCQX:SGRCF
www.sangold.ca
San Gold Confirms High Grades with Bulk Sample of 007 Zone

George Pirie, CEO of San Gold Corporation (TSX:SGR) (OTCQX: SGRCF), is pleased to report on preliminary mine development and bulk sampling within the 007 and 007 East Zones from 250 meters (820 ft) below surface.

Over 305 meters (1,000 ft) of strike length has been developed so far at this elevation with three distinct zones identified having strike lengths of 76 meters (250 ft) to 92 meters (300 ft) each. 15,405 tons have been processed in the Rice Lake mill so far this year from the 007 zones giving a mill head grade of 11.3 g/tonne (0.33 oz/ton).

Mining of the 007 zones have contributed to a record month in terms of tonnage mined in February of 37,825 tons or 1,351 tons per day average, including a new daily mined record of 2,674 tons.

Tuesday, November 23, 2010

Latin American Minerals consolidates burgeoning gold property in Paraguay.

Crystaline GoldImage via Wikipedia  Nov 2010 by Marketwire

Latin American Minerals Consolidates 100 Square km Epithermal Gold System by Acquiring 70% Interest in Minera Guaira Trend

 Latin American Minerals Inc. (TSX VENTURE: LAT) (the "Corporation") announces that it has exercised its option to acquire a 70% interest in the mining license (the "License") held by Minera Guaira S.A. ("Minera Guaira") near Paso Yobai, Paraguay.

Upon Minera Guaira receiving final government approval to the transfer of this 70% interest in the License to the Corporation's Paraguayan wholly owned subsidiary, the Corporation is required to release from escrow the final option payment to Minera Guaira of approximately US$1.26 million, expected to occur within 45 days. The parties will then enter into a 70/30 joint venture agreement with the Corporation as operator. The party that does not contribute its pro-rata share of costs will be diluted on a straight line basis. The party whose interest is diluted to 15% or less will automatically be reduced and converted to a 1% interest (this interest is required under the terms of the License and is to be non-participating) and will receive a 3% net smelter returns royalty.

The property that is subject to the License, and which is fully permitted for mining, covers the "Discovery Trend" where the Corporation has excavated 11 mechanical trenches comprising 450 metres and 47 diamond drill holes totalling 6,600 metres, returning up to 26.6 gpt gold over 6.5 metres. This work has confirmed the continuity of the gold mineralization to a depth of 100 metres and remains open to depth. Sampling is currently in progress in order to better quantify the grades and potential gold recovery values that can be expected for this deposit, using a laboratory scale rod mill and Falcon L40 gravity concentrator.

The Corporation also holds 100% of the exploration concessions to the north of the Discovery Trend (the "Northern Trend"), where initial auger hole testing has demonstrated gold values similar to those of the Discovery Trend. The two trends combined produce a large footprint gold system measuring approximately 9 km x 11 km, or approximately 100 square kilometers.

Miles Rideout, the President and CEO of Latin American Minerals stated 'This is a very positive step to consolidate the properties of this extensive, emerging epithermal gold system. The support we have consistently received from Minera Guaira during the 3 1/2 years of our Option Agreement is acknowledged and appreciated.'

In conjunction with the decision to exercise the option with respect to the License, the Corporation formally terminated the option agreement with Minas Paraguay S.A. in connection with its mining license following a careful review of the exploration results on this property.

The Corporation further announces the grant of stock options to acquire 1.1 million common shares to its Chairman Richard Boulay. The stock options are exercisable at $0.18 per share, with a term of five years and subject to the Corporation's standard vesting schedule.

Dr. Waldo Perez is the Corporation's internal "Qualified Person" under the requirements of National Instrument 43-101.

About the Company:
Latin American Minerals is a mineral exploration company that intends to develop its large Paso Yobai gold project in Paraguay.

The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address Latin American Minerals' expectations, should be considered forward-looking statements. Such statements are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect our current view of future events and are subject to certain risks and uncertainties as contained in Latin American Minerals' filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results could differ materially from those anticipated in these forward-looking statements. We undertake no obligation, and do not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events, unless required under applicable securities laws. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Latin American Minerals Inc.
Miles Rideout
President and CEO
Argentina: (54-261) 439-9268
Toronto: (1-416) 902-8558 or 360 1921
www.latinamericanminerals.com
SOURCE: Latin American Minerals Inc. 


 Notes:
 Latin American Minerals (CVE-LAT) owns 25% of  Lithium Americas Corp (CVE-LAC)

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