The story of the discovery of gold and gold mining in Paraguay is an interesting and relatively recent one. Although rumors of gold had been circulating for years in the area of Paso Yobai, it’s only in the last ten years or so that there has been any serious attempt to tap into Paraguay’s gold resources.

Paso Yobai is historically known for the high quality of its production of yerba mate. Is also known for the production of sugar-cane, cotton and soy.

The story of this new Klondike-style gold rush begins with Ecuadorian who, on a trip to the Paraguayan capital Asunción, fell in love with a young lady from Paso Yobai – a fertile and green place with beautiful undulating hills. Shortly afterwards the two were married, and the Ecuadorian discovered gold in a stream on his father-in-law’s property. From there began the gold rush fever that changed the life of many local families, as well as investors around the world looking to profit from the spectacular rise in the gold price over the past ten years.

Mining activity started on a small scale. Local gold bugs known as “garimpeiros” are really artisan miners. It generally takes between one and two days for a small scale miner to extract a gram of gold. But this gram is difficult to obtain. A garimpeiro can gernerally survive strictly of their mining activities if he can obtain 25 grams or more of gold a months.
The grams of gold are sold locally to other companies who process and export it. From there, the gold may be used in industrial processes or more commonly it is stored in international banks and bullion dealers in the form of gold coins and gold bars for investment purposes. Gold, after all, is the only real international currency that cannot be devalued.

Anyway, I digress. Back to Paraguay! Although mining has brought increased prosperity to Paso Yobai, it has also created serious environmental issues. Miners use mercury to separate gold from sand an clay. Unfortunately, the mercury often enters and contaminates creeks. Arroyo Gasory, Paso Yobai’s largest creek, is now highly contaminated with mercury and the fish are unsafe to consume.

The Canadian TSX-quoted company Latin American Minerals Inc. bought a local mining company in 2007 and negotiated an agreement with the Paraguayan government to begin mining in the district. Latin American Minerals claims that that Paso Yobai may contain one of the largest gold veins of the world. Others talk of gold reserves in the huge and virgin Chaco.

It remains to be seen how Paraguay’s gold business develops over the coming decade. But I for one believe investing in an undiscovered, low cost country that is so rich in natural resources has to make very good sense. Paraguay has  water, clean electricity, oil, gas, gold and friendly people. Plus, it is an undiscovered tax haven. What more could a foreign investor want? Why not consider Living, Investing and Doing Business in Paraguay?

Latin American Minerals Inc.

TSX VENTURE: LAT

TORONTO, ONTARIO–(Marketwire – July 16, 2008) – Latin American Minerals Inc. (TSX VENTURE:LAT) reports the discovery of 10 diamonds, ranging in size from 0.002 to 0.04 carats on its Capiibary Diamond Exploration Property in north-eastern Paraguay. Photographs of the recovered diamonds are attached to this press release. Additional photographs are posted on the Latin American Minerals website at www.latinamericanminerals.com.

The Capiibary Diamond Exploration Property, located approximately 100 km north of Latin American’s Paso Yobai Gold Project, covers approximately 165,000 hectares (1,650 square kilometres). The majority 160,000 hectares are 100% owned by Latin American Minerals. On the remaining 5,000 hectares, Latin American has an option to earn a 70% interest by making escalating cash payments totalling $1.5 million over 4 years and, subject to standard dilution provisions, Latin American can earn up to a 100% interest with the vendor retaining a 3% gross sales royalty.

Diamonds were initially found in the Capiibary region by local prospectors panning for gold in the 1960s. Some years later, De Beers collected 4 stream samples from the region, of which one contained 6 diamonds and all contained kimberlite indicator minerals (”KIMs”). Recently, Latin American collected 16 samples at various locations in the region of the initial discovery; four samples contained diamonds and 14 contained KIMs which include chrome spinels and garnets. The diamonds are champagne to brilliant white, slightly abraded and several exhibit exceptional crystal structures suggesting minimal alluvial transport. Microprobe work has been completed on the chrome spinels and they were found to fall within the kimberlite stability field. Microprobe work on the garnets is being scheduled.

Latin American’s diamonds were recovered during reconnaissance sampling of two small streams, within 3 km of the headwaters defining the small drainage basin covering approximately 25 square km. The source area for the streams covers a north-westerly trending area measuring 12 km long and 1.5 km wide and defines the south-western limit of the drainage basin (see Capiibary Exploration Project map attached to this press release). Locally, this north-westerly trend defines a regionally structural corridor which is known to contain mafic intrusive complexes and linear magnetic features identified by regional airborne magnetics. Regionally, this area is part of the diamond rich Alto Paranaiba Igneous Province (”APIP”) of Southern Brazil.

“This discovery demonstrates Latin American’s commitment to regional exploration and our ability to find new exciting exploration plays in remote parts of South America,” commented Dr. Waldo Perez, Senior VP Exploration.

David Wahl, President and CEO, reports, “Stream sampling is continuing and a ground magnetometer survey will commence shortly to cover the 18 square kilometre area defining the south-western limits of the Capiibary drainage basin, which may be the source area for the diamonds.”

Geology of the Region is composed of Jurassic sandstones intruded by the Alto Paranaiba Igneous Province that extends from Brazil into Paraguay (see map of Mafic Complexes attached to this press release). The APIP is one of the largest ultramafic potassic igneous provinces in the world. In Brazil, these rocks generated the source of diamonds in the Alto Paranaiba and Ipora region, which are being explored and developed by a number of companies.

Patricia Sheahan, a well-known diamond expert and a Director of Latin American Minerals since 2007, indicated that, “The Capiibary property and surrounding area show considerable promise. There are many excellent diamond projects – mining and developing – nearby in Brazil. Uruguay has seen exploration activity too, so it is timely for Latin American Minerals to concentrate on Paraguay’s promise.”

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 properties of significant merit in under-explored but highly prospective countries of Latin America.

Sampling and Analytical Protocols: The sampling and analytical protocols were established, implemented and supervised by or under the direction of Dr. Waldo Perez, the Company’s internal Qualified Person as defined by National Instrument 43-101. Stream Sediment samples were collected from the river in traps under logs, deep holes and river banks. The samples were sieved in the field into three fractions: fine (0.3-0.4 mm), medium (0.4-0.71 mm) and coarse (0.71-1.0 mm). The sieves are similar to those used by De Beers. The three fractions for each sample were sent to SGS Geosol Lab in Brasilia (Brazil). Each fraction was sieved again in the lab and minerals where separated and inspected by visual analysis under microscope. KIM and diamonds were photographed and reported as total number of grains found. Probe analysis of Chrome-Spinels was performed by De Beers in Johannesburg, South Africa.

Note: 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 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, unless otherwise 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. Historic estimates contained herein do not meet the definition of Mineral Resources as contained in National Instrument 43-101 of the Canadian Securities Administrators. Furthermore, neither the Corporation nor the Qualified Person has reviewed any of the reports or exploration results underlying such estimates and accordingly, such estimates (and any assumptions underlying such estimates) have not been independently verified. As a result, there can be no assurance that such historic estimates are reliable, or that such estimates are indicative of any mineralization which would meet the criteria of Mineral Resources as defined in accordance with National Instrument 43-101. Consequently, no reliance should be placed upon these historical estimates. However, the Corporation believes that these historical estimates may be indicative of the potential for mineralization on these properties.

NOTE: To view the maps associated with this release, please visit the following link – http://media3.marketwire.com/docs/lat716.pdf

The TSXV has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

Latin American Minerals Inc.

TSX VENTURE: LAT

TORONTO, ONTARIO–(Marketwire – July 18, 2008) – Latin American Minerals Inc. (TSX VENTURE:LAT) is encouraged by assay results from 43 samples of 17 tailings ponds on its Paso Yobai gold property in Paraguay. The tailing ponds are dry, coarse grained rejects from gravity plants and average 55m in diameter. Assays ranged from 0.1 gpt to 102.7 gpt of gold.

The tailing pond assay results confirm surface continuity of the gold bearing zone along strike of the Discovery Zone, which has been traced by diamond drilling to a depth of 100m returning 26.64 gpt Au over 6.5m, including 43.08 gpt Au over 4m (Press Release January 16, 2008). Additionally, the high gold grades detected in the tailing ponds strongly suggest a significant loss of the fine gold as a result of the primitive milling and gravity techniques used by mill operators in the area.

The table below summarizes the tailing pond assay results including Minas Paraguay (Dump 1) and Minera Guira (Dump 2), the only fully-permitted mining operations on the Paso Yobai property. Also included are assay results from 15 other tailing ponds of local mill operators who processed gold bearing material from a 300 metre long trench excavated on the gold bearing zone immediately south along trend from the Discovery Zone.

In order to estimate head grades of the gold bearing material delivered to the local mills by the artisan miners, Latin American Minerals collected three mini-bulk samples of approximately 60 kilograms each from pits excavated by the company to expose the mineralized system. The samples contain high grade, medium grade and low grade material. Alex Stewart Assay Laboratories carried out a detailed screen assay analysis of these materials to determine the head grades for the various size fractions tested. Results are as follows:

1. Sandstone (host rock of the mafic dyke):

-------------------------------------------------------------------
Screen                             Weight %   Au gpt Distribution %
-------------------------------------------------------------------
+ 30                                   8.54     0.37           1.61
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+ 50                                  29.50     0.40           5.93
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+ 70                                   8.26     0.44           1.81
-------------------------------------------------------------------
+ 100                                 10.76     0.47           2.56
-------------------------------------------------------------------
+ 140                                 10.14     0.51           2.61
-------------------------------------------------------------------
+ 200                                  6.04     2.33           7.09
-------------------------------------------------------------------
- 200                                 26.76     5.83          78.39
-------------------------------------------------------------------
                                     100.00    1.990         100.00
-------------------------------------------------------------------

2. Mafic Dyke (medium grade):

-------------------------------------------------------------------
Screen                             Weight %   Au gpt Distribution %
-------------------------------------------------------------------
+ 30                                   6.12    15.33          10.22
-------------------------------------------------------------------
+ 50                                  18.12    23.14          47.64
-------------------------------------------------------------------
+ 70                                   8.90     8.67           8.41
-------------------------------------------------------------------
+ 100                                  9.80     9.50          10.14
-------------------------------------------------------------------
+ 140                                  8.82     5.18           4.98
-------------------------------------------------------------------
+ 200                                  6.80     4.66           3.45
-------------------------------------------------------------------
- 200                                 41.44     3.36          15.16
-------------------------------------------------------------------
                                     100.00    9.181         100.00
-------------------------------------------------------------------

3. Mafic Dyke (high grade):

-------------------------------------------------------------------
Screen                             Weight %   Au gpt Distribution %
-------------------------------------------------------------------
+ 30                                   5.06   138.75          10.45
-------------------------------------------------------------------
+ 50                                  22.60    97.20          32.71
-------------------------------------------------------------------
+ 70                                  10.20    94.49          14.35
-------------------------------------------------------------------
+ 100                                 10.62    93.09          14.72
-------------------------------------------------------------------
+ 140                                  8.42    78.69           9.87
-------------------------------------------------------------------
+ 200                                  5.48    75.43           6.15
-------------------------------------------------------------------
- 200                                 37.62    20.98          11.75
-------------------------------------------------------------------
                                     100.00   67.165         100.00
-------------------------------------------------------------------

These results show that most of the gold is very fine. In the sandstone, up to 89% of the gold is recovered at -200 mesh, and in the mafic dyke between 11 % and 15% of the gold is recovered at -200 mesh and 36% of the gold is recovered at -100 mesh. Only greater than 100 mesh material can be recovered from the gravity circuits of local mill operators, explaining why their recovery of fine gold has been low.

“The tailings assays show that Paso Yobai not only has great exploration potential, but that the existing tailing dumps host a significant value of gold. This production comes from 8 pits along 3 km of the 7 km gold trend in Paso Yobai,” observed Dr. Waldo Perez, Senior VP Exploration.

David Wahl, President and CEO, suggested, “Paso Yobai provides a unique opportunity for Latin American Minerals: the project is fully permitted for production, high grade gold mineralization is exposed on surface, is highly weathered, and can be extracted by mechanical excavators and processed by gravity to recover the coarse gold followed by a cyanide leach finish to recover the fine gold. Results of the ongoing metallurgical testing are expected within the next month.”

The Paso Yobai project comprises two nested mining concessions (Minas Paraguay and Minera Guaira) covering 7,200 ha and three exploration concessions covering 7,600 ha. The mining concessions entirely cover a new gold district 230 km east of Paraguay’s capital of Asuncion. Latin American Minerals optioned the mining concessions and acquired the exploration concessions in April 2007 and has since collected 12,000 soil samples, completed a 3,800 line kilometres helicopter borne EM and MAG survey, collected 800 rock chip and channel samples and diamond drilled 5,200 metres. Results have identified a 7 km long soil gold anomaly and a 2 km long Discovery Zone with mineralization confirmed by diamond drilling. Mineralization remains open along strike and to depth.

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 minerals projects in under-explored but highly prospective countries of Latin America.

Notes:

Sampling and Analytical Protocols: The sampling and analytical protocols were established, implemented and supervised by or under the direction of Dr. Waldo Perez, the Company’s internal Qualified Person as defined by National Instrument 43-101. The samples from the ponds weighted more than 5 Kg and were collected digging a hole in the pond between 1m and 3m deep. Two or three samples were collected in different locales of the pond. The screen assay samples were collected from the pits and weighted 60 Kg each. The sample preparation was carried on the Company’s sample preparation facility, operated by Company technicians under the direct onsite supervision and QA/QC provided by professionals from Alex Stewart Laboratories. Alex Stewart Assayers Argentina S.A. (”ASAA”) laboratory is an ISO 9001-certified laboratory with laboratory facilities in Mendoza, Argentina and headquarters in England. The tailing pond samples were dried, crushed and split. A total of 200 grams of sample have been separated for analysis The prepared samples were shipped by bonded courier to “ASAA” laboratories in Mendoza Argentina for analysis. The screen assay samples were sent to Alex Stewart Assayers in Peru. The samples were dried, crushed, split in each mesh. A total of 50 grams of each fraction in the sample have been separated for analysis. All samples were assayed for gold by Fire Assay with AA finish using 50 gram sample. Accuracy of results is tested through the systematic inclusion of blanks and certified reference standards.

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.

The TSXV has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.