Latin American Minerals Triples Length of Discovery Zone to 2,000m at Paraguay Gold Project; Begins Resource Definition Drilling and Bulk Sampling as Basis for Preliminary Economic Assessment

Toronto, Canada, June 2, 2008, Latin American Minerals Inc. (LAT: TSX-V) announces that the recently completed Phase I drilling program on its Paso Yobai Gold Project in Paraguay has almost  tripled  the strike length of the Discovery Zone from 700 metres to 2,000 metres.  Based on the encouraging results from the Phase I drilling program Dr. George Cargill, P.Geo., the Company�s independent qualified person, recommends resource definition drilling and bulk sampling be carried out on the Discovery Zone at Paso Yobai.

The objective of the Phase II program is to outline an indicated mineral resource, determine metallurgical parameters and establish open pit design parameters to support a preliminary economic assessment as defined by National Instrument 43-101.

Paso Yobai has all environmental permits and is fully permitted for production.

Latin American Minerals will commence the comprehensive Phase II program at Paso Yobai immediately.

The Paso Yobai Gold Trend, hosting the Discovery Zone, has been traced by airborne magnetic survey along strike for approximately 7km and has been outlined by a large regional gold soil anomaly measuring 8.5km long by 2km wide.  The core of the anomaly measures approximately 6,000m long and 250m wide and returned gold values in the soil ranging from 0.076gpt to 1.1gpt Au.

The Phase I drilling program consisted of 35 holes totalling 5,163.8m, which were  designed to intersect the gold bearing mafic dyke on sections established at approximately 200m along strike for 6,000m. 

Nine (9) holes have intersected economically significant gold values, including several holes reporting coarse visible gold.  The remaining holes intersected the gold bearing zone and returned either geochemically anomalous gold values from 0.1 gpt to 1gpt Au or no significant gold values. For complete drill logs and assay results please visit www.latinamericanminerals.com.

Currently, seven (7) holes define the Discovery Zone, which has been traced along strike for approximately 2,000m.

Please refer to the three maps below showing drill results, rock chip sampling results and location of drill holes.

The following table summarizes the significant assay results for the holes currently defining the Discovery Zone.

                        note: all widths are true widths

Of additional potential economic significance are the results of DDH-23.  This hole was drilled to test the Discovery Zone and intersected the Paso Yobai mafic dyke reporting 13.66gpt Au over 0.47 metres.  The hole was terminated in the footwall sandstone containing disseminated pyrite, which returned 0.71gpt Au over 9 metres.  The presence of pyrite + gold in the sandstone is significant as the presence of pyrite, a conductive sulphide mineral, may be the cause of the large electromagnetic anomaly located immediately south and parallel to the Paso Yobai Gold Bearing trend.  This anomaly is approximately 4 kilometres long and 1 kilometre wide and could represent a new gold discovery at Paso Yobai.

Additionally, rock chip sampling in several small pits along the Discovery Zone returned assays ranging from 0.5gpt Au over 0.5m to 31gpt Au over 2.0m. The best assay was 98gpt Au over 0.5m.

A high resolution ground magnetometer survey is currently being carried out along the Paso Yobai mafic dykes to identify favourable kinks and bends, which typically contain gold bearing structures. The magnetometer survey is scheduled for completion in two weeks, under the direction of John Kieley, P. Geo., our independent Qualified Person, Geophysics.

The Paso Yobai epithermal system consists of bonanza style carbonate and quartz veinlets and stockwork hosted in a mafic dyke intruding sandstones. Mineralization extends from the hanging wall, the footwall and frequently encompasses the sandstone of the wall rock.  The width of individual veins rarely surpass a few millimetres but the mineralized stockwork range from 50cm to 10m and frequently  encompasses several shoots of stockwork within one dyke. A detailed alteration study was carried on the veins to understand the behaviour and location of the ore shoots. The study shows that the gold bearing shoots plunge NW and the epithermal system was emplaced very close to the surface, suggesting further potential at depth.

Dr. Waldo Perez, Senior VP of Exploration, reports, �Paso Yobai is one of the newest gold camps in South America and is proving to have excellent resource potential at depth and along strike. In the Discovery Zone, it is very encouraging that at this very early stage we are seeing remarkable continuity of the gold zone between drill holes on 200m sections.

Mr. David Wahl, President and CEO, explained, �Latin American Minerals believes that the detailed resource definition drilling and bulk sampling program will provide the necessary building blocks for a 43-101 compliant Preliminary Economic Assessment of the production potential at Paso Yobai, which could be mined by open pit and later by underground mining methods.�

Dr. Waldo Perez, P.Geo., is Latin American Minerals� 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 base and precious metals projects in under-explored but highly prospective countries of Latin America.

For more information please contact: David Wahl at (416) 363-0841 or visit www.latinamericanminerals.com.

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. At the drill site, the core was placed in core boxes and delivered to a secure field core processing center. The core was �split� using a Diamond saw by experienced exploration technicians and logged by professional geologists. The typically sample interval was 1m and locally the interval was increased to 2m or decreased to 0.5m. The sample interval was designated by the project geologists. Half of the core was left in the core box as a permanent reference of the interval sampled and half of the designated sample interval was delivered to 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�) Laboratories is an ISO 9001-certified laboratory with laboratory facilities in Mendoza, Argentina and headquarters in England. The core samples were crushed, dried and split. A portion of the split sample was tagged and archived as coarse reject and the remaining portion ground to minus 200 mesh and shipped by bonded courier to ASAA laboratories in Mendoza, Argentina. All samples were assayed for gold and multi-elements by ICP. Gold was analyzed by Fire Assay with AA finish using 50 gram sample. For the multi-elements the samples were dissolved in Aqua Regia at 120�C and read in ICP-OES. Accuracy of results is tested through the systematic inclusion of blanks, duplicates and certified reference standards. Additionally, metallic or screen fire assays were carried out on samples containing visible gold. In the screen fire assay the sample is crushed, 400gr of pulp is sieved and the plus 100 micron (150 mesh) portion of the sample is screened out and assayed in its entirety. The minus 100 micron (150 mesh) portion of the sample is homogenized and a 50 gram fusion is used to determine its grade. Then the final assay reported is the weighted average of both fractions, coarse and fine.

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