Latin American Minerals Inc. (TSX VENTURE:LAT) (the “Corporation”) is pleased to report that it has closed its previously announced bought deal private placement (the “Financing”) with Dundee Securities Corporation and PowerOne Capital Markets Limited (the “Underwriters”).

The Corporation has issued 13,378,001 units (the “Units”) at a price of $0.30 per Unit for gross proceeds of $4,013,400.30. Each Unit is comprised of one common share of the Corporation (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable for one Common Share at a price of $0.50 per Common Share exercisable until February 19, 2010.

In consideration for their efforts, the Underwriters were paid a cash commission of 5% of the total proceeds raised in the Financing.  In addition, the Underwriters received underwriters’ warrants (the “Underwriters’ Warrants”) entitling the holders thereof to purchase in the aggregate 668,901 Units of the Corporation. Each Underwriters’ Warrant is exercisable to acquire one Unit until February 19, 2010 at a price of $0.30 per Unit.

The securities comprising the Units and the Underwriters’ Warrants are subject to a statutory hold period that will expire on December 20, 2008.

The Corporation plans to use the net proceeds from the Financing for working capital and general corporate purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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.

CONTACT INFORMATION:

Latin American Minerals Inc.
David Wahl
(416) 363-0841
Website: www.latinamericanminerals.com