TORONTO, ONTARIO - (Aug. 28, 2009) - Latin American Minerals Inc. (TSX VENTURE:LAT) (the "Corporation") wishes to update the news release issued on August 14, 2009 announcing the proposed private placement for a maximum of 10,000,000 units ("Units") at $0.15 per Unit for maximum gross cash proceeds of $1.5 million (the "Private Placement"). The Private Placement will be completed on a non-brokered basis. In addition, the proceeds from the Private Placement will be used for general and administrative purposes and not, as previously stated, for lithium projects, which the Corporation sold (see the Corporation's press release of June 11, 2009).

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.

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 obligation, 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.

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.

CONTACT INFORMATION:

Latin American Minerals Inc.
Ray Mitchell
CFO
(416) 363-0841
http://www.latinamericanminerals.com