LAT

Latin American Minerals names Boulay as director

2009-11-19 05:10 PT - News Release

Mr. Waldo Perez reports

LATIN AMERICAN MINERALS INC. ANNOUNCES ADDITION OF RICHARD BOULAY TO THE BOARD OF DIRECTORS

Richard Boulay, BSc, geology, has joined Latin American Minerals Inc.'s board of directors.

Mr. Boulay is a geologist with over 40 years of experience in the exploration, mining and mining finance industries in Canada, the United States, Mexico and several Latin American countries. He has 15 years of mining and infrastructure financing experience gained with Bank of Montreal, Royal Bank of Canada and Bank of Tokyo. During his project financing career he assisted in the financing of numerous underground and open pit mining projects, hydro and diversion dams, nuclear reactors, pipelines and offshore exploration, production, and gas separation platforms. He has extensive experience in the management and financing of public companies in Canada and the United States. In 2004, Mr. Boulay joined the board of San Gold Corp. as a director and served as San Gold's first chief financial officer for two years as that company financed the reactivation of the Rice Lake gold mine and conducted an aggressive five-year exploration program that has outlined several new high-grade gold deposits, including a second producing very high-grade gold mine. He remains a director of San Gold Corp. and also serves as a director and chief executive officer of StrikePoint Gold Inc., a company that has an extensive land position in Manitoba's Rice Lake greenstone belt, including a joint venture property with San Gold, adjacent to San Gold's Rice Lake mine lease.

Following a private due diligence trip to Latin American Minerals' Paraguayan gold and diamond properties in March, 2009, he became a shareholder of the company. During a recent meeting, Mr. Boulay summarized his initial impression of LAT's Paraguayan program by noting: "I love the obvious geological prospectivity of Paraguay, the fact that it has no mining industry because it has never been systematically explored, the country's political and fiscal stability, the strong work ethic and integrity of the Paraguayan people that I met and, importantly, the professionalism of LAT's extensive technical team in Paraguay. My current work is in Manitoba, Canada, one of the best-rated mining jurisdictions in the world. Imagine my delight to discover first-hand that Paraguay has a stable economy, low taxes, abundant water, extensive arable land, a sophisticate and extensive road system, a large educated labour pool, and unlimited amounts of economically priced electricity. LAT's properties are outstanding. Paso Yobai is an extensive, geologically fascinating, very large low-sulphidization gold system that keeps growing with every exploration program and will soon be entering its pilot production phase. The Itapoty diamond project is truly fascinating due to its radical geology, seemingly extensive nature and the stunning fact that the indicator minerals consist of beautiful high-quality diamonds."

Waldo A. Perez, interim president and chief executive officer of the corporation, stated: "Rick's experience in exploration, mining and finance represents a valuable addition to our diversified board as LAT prepares for the financing and rapid development of the Paso Yobai gold project in 2010. Due to LAT's current cash position and investment assets it is anticipated that Paso Yobai production can be achieved without significant equity dilution. Financing alternatives using the strength of LAT's financial assets are currently under consideration."