LAT Latin American Minerals Inc

Latin American Minerals Inc. (TSX VENTURE:LAT)(OTCQX:LATNF) (the "Company")
provides an exploration and operational update on its fully owned Paso Yobai
gold project in Paraguay. 


The Company continues to advance exploration efforts on its flagship Paso Yobai
gold project despite the current downturn in the commodities market. The
impressive results to date reinforce Paso Yobai as an important epithermal gold
discovery. 


Miles Rideout, President and CEO of the Company stated, "At gold prices above
$1,200 per ounce, the Company has adequate financial resources for the near and
mid-term and will not require additional equity financings. We have several
catalysts that could significantly and favourably affect our cash flow such as
the imminent addition of heap leach processing, local high grade zones at
Independencia Mine within the confirmed pervasive low grade halo as seen in the
current quarter, and any improvement in the gold spot price. These catalysts
could result in the Company generating adequate cash flow to fund the pilot
plant operations and the 2014 drilling program, a top priority going forward." 


Exploration update 

The Company introduced cost containment measures in the third quarter and has
deferred certain expenses to support the current working capital position.
Exploration efforts are funded through operating cash flow supporting the
ongoing bulk-sampling of the Discovery Trend, in addition to advancing our
knowledge and understanding of the large X-Mile Trend targets. 


October 2013 pilot gold production was the largest recorded since opening of the
mill in 2012. The ongoing Independencia Mine open pit exploration activity has
generated sufficient cash flow to fund the processing of 40,000 tonnes and 1,900
ounces of gold production to date at a continuously declining operating cost of
US$1,050 per ounce in the last three months. 


Extensive exploration work on the X-Mile Trend demonstrates that the majority of
these targets are fully preserved epithermal systems located close to the
present-day surface. Based on the typical geometry for similar, classical
epithermal gold systems, management has interpreted substantial potential for
high-grade feeders between 200 and 400 metres below the identified surface gold
targets. 


Soil sampling, trenching, and geophysics, combined with limited drilling also
indicated that the mapped gold zones may have significant shallow potential, as
veining and as disseminated mineralization occurring in the first 200 m below
surface. The Company will proceed with ground follow up work in 2014 to validate
several shallow anomalous occurrences on the Discovery Trend and outlying areas.


Metallurgical testing 

The Company has undertaken several metallurgical tests (conducted by Alex
Stewart Assayers of Peru SRL and SGS Mexico) since 2008 and recently completed
new leach tests from the low grade mineralization of the Discovery Trend.
Samples yielded gold recoveries from 83% to 98%. 


Management is finalizing the design of a 2,600 tonne heap leach pad at a
construction cost of $50,000. The leach pad is expected to be in place in the
first quarter of 2014, subject to permitting, and will be funded with cash flow
generated from bulk sampling operations in the last quarter. Initial operation
will be based on 0.8 g/t feed material and 30-day leach period, with anticipated
recoveries exceeding 60% based on recent metallurgical testing.


Following implementation of the first leach pad, the Company plans to add
additional leach pads in 2014 using operating cash flow in order to process
140,000 tonnes of assayed, leachable mineral stockpiles available immediately
from Independencia Mine operations to date. These stockpiles have been tested by
630 assay samples ranging from 0.3 to 7.3 g/t, with an average grade of 0.69
g/t. The high grade bulk sampling mineralization will continue to run through
the gravity concentrator plant ("Mill").


The anticipated gold recovery from heap leach operations represents a new source
of potential cash flow for the Company given low heap leach operating costs and
large, immediately available stockpiles. This new cash flow would be in addition
to the current Mill high-grade bulk sampling gold recoveries, which already
cover operating costs. The Company observes that an independent feasibility
study has not been completed and is required to advise the reader that there is
no certainty the proposed operations will be economically viable.


Independent Epithermal Specialist 

Dr. Jeffrey W. Hedenquist, a well-known epithermal specialist based in Canada
with world-wide experience, was retained during the quarter to provide expert
independent advice on the exploration model, the nature of the Paso Yobai
epithermal gold system and the ongoing exploration focus. Dr Hedenquist had
previously visited the project in 2008. Using the extensive geochemical,
geophysical, geological evidence and following inspection of exposed
mineralization and drill core, Dr. Hedenquist has recommended further drilling
as the top priority to determine if there are high grade feeders for the gold
mineralization discovered to date near the surface. 


Paso Yobai 

Paso Yobai is a large epithermal gold system located within the 15,020 hectare
property. The project is located near infrastructure including electricity,
roads, water and labour force. Exploration activities to date include extensive
geochemical soils grid comprising 19,000 samples, multiple grids of auger-hole
samples totaling 612 sites, 94 exploration pits to approx. 2m depth, 44 large
trenches excavated to depths of 8 to 15 m and up to 40 m in length, 3,700
line-km of helicopter VTEM and magnetics, 1,100 line-km of ground magnetics: 106
line-km of Controlled Source Audio Magneto Tellurics (CSAMT) geophysics, 55
line-km of induced polarization/resistivity (IP) and 11,000 m of diamond
drilling in 84 exploration holes. 


The project encompasses two primary parallel gold trends defined by continuous
soil anomalies: the Discovery Trend (total length approximately 10 km) and the
X-Mile Trend (total length 14.8 km). These anomalous gold soil values (greater
than 5 ppb) occur over approximately 9,000 ha of the Paso Yobai property. Within
the large anomalous surface, approximately 2,000 ha of area host seven large,
anomalous target blocks with more than 75 ppb gold confirmed in soil sampling.


Epithermal gold mineralization with silver credits begins at surface, with
coarse gold (up to 1 cm nuggets) being common. As such the Company built its
Independencia Mine open pit bulk-sample Mill on the Discovery Trend at a funded
cost of $4 million. This exploration approach is the most effective methodology
to bulk-sample and process a portion of the mineralized trend and to obtain
vital information on the metallurgical characteristics of the mineralization. 


Discovery Trend and Independencia Mine 

The Discovery Trend hosts mineralization in gold shoots contained within an
extensive mafic dike. The individual shoots are high grade as demonstrated by
these trench results: Trench 1 - 21.47 g/t over 0.5 m; Trench 2 - 61.38 g/t over
0.5 m; Trench 3 - 34.79 g/t over 0.6 m (please refer to December 2011, February
2010 and January 2009 press releases for complete data disclosure). Drilling,
trenching and the Independencia Mine open pit bulk sampling to date have
confirmed these shoots are spatially close to each other, and contain
significant mineralized lenses from surface of 1 to 6 m width, 5 to 25 m length
and 2 to 15 m in vertical extent. A series of these high grade mineralized
lenses has been confirmed to continue below surface to at least 150 m, remaining
open to depth.


The average grade delivered to the Mill over 18 months of operation is 2.5 g/t
Au with metallurgical gold recoveries of approximately 80%. The bulk sampling
activities have confirmed high-grade shoots within a significant halo of
low-grade mineralization averaging 0.6 to 0.8 g/t. The ratio of the low-grade to
the high-grade shoots is approximately 10:1. After 18 months of plant operation,
the Company has stockpiled and assayed 140,000 tonnes of mineralization, which
is immediately available for heap-leach processing. 


The Independencia Mine open pit is currently 550 m in length and 10 to 20 m in
depth. The current pit plan contemplates a minimum 1,100 m pit extent, excavated
to 30 m depth. The Company's prior drilling has confirmed the extension and
notable improvement in mineral grades below 50 m depth, which could result in a
significant expansion of the current pit plan. 


The known Discovery Trend is known to extend a further 2.0 km to the NW which is
available for bulk-sampling using the existing Mill facility. Drilling has
identified mineralization at depths exceeding 150 m along the Discovery Trend,
with intervals such as 6.5 m with 26.64 g/t Au at 100 m depth (January 2008 and
May 2011 press releases). This provides evidence that the results of the bulk
sampling program can be extrapolated across the Discovery Trend at surface and
at depth.


X-Mile Trend 

The X-Mile Trend presently features six target areas that manifest as discrete
circular-to-elongate soil anomalies of greater than 1 kilometre scale. Only one
target area, namely Tacuru, has been drilled to date, returning the best results
to date for the Paso Yobai property including (in the same drill hole) 4.2 g/t
Au over 22 m, 94.6 g/t over 2.13 m, and 107.7 g/t over 2.7 m Au (July 2012 press
release). Management's interpretation of geophysical imaging of the Tacuru
target indicates a 1,500 m wide collapse structure exhibiting multiple faults
with evidence of weak sulphide mineralization, and evidence of hydrothermal
alteration extending to hundreds of metres depth below the 500 m wide primary
soil anomaly.


Five of the six surveyed X-Mile Trend target areas have produced resistivity and
chargeability responses consistent with expectation for epithermal gold
alteration. These responses correlate well with geological data and the soil
anomalies, and suggest that the five priority gold zones reflect relatively
shallow epithermal mineralization. Geological and geophysical evidence points to
limited erosion of these gold zones. Drill target prioritization is underway.


Option Grant 

The Company also announces a grant of 650,000 incentive stock options to certain
directors exercisable at $0.10 per share, subject to a term of five years, and
vesting over a twelve month period. 


Dr. Waldo Perez is the Company's internal "Qualified Person" under the
requirements of National Instrument 43-101.


About the Company: 

Latin American Minerals Inc. is a mineral exploration company with its flagship
Paso Yobai property located in Paraguay, an emerging gold district. Paso Yobai
hosts a large epithermal gold footprint on two parallel gold trends, namely its
10 km Discovery Trend and 14.8 km X-Mile Trend. 


Since 2011, the Company earned a 99% interest in the fully permitted
Independencia Mine portion of the project, and has constructed and operated a
gravity plant (Mill) to process high-grade bulk-sampling from its open pit
located on the Discovery Trend. This bulk sampling exploration strategy has
generated adequate cash flow to fund operations and has provided vital
information on the metallurgical characteristics of the Paso Yobai
mineralization. The Company holds a 100% interest in the X-Mile Trend
exploration concessions. The Company also holds 100% interests in highly
prospective diamond, rare earth (REE, niobium) and green-fields gold projects in
Paraguay and base metals projects in Argentina.


The Company's public documents may be accessed at www.sedar.com.  

For further information, please visit our website at
www.latinamericanminerals.com or email us at
information@latinamericanminerals.com.


The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this news release.


This news release includes certain forward-looking statements concerning the
future performance of our business, its operations and its financial performance
and condition, as well as management's objectives, strategies, beliefs and
intentions. Forward-looking statements are frequently identified by such words
as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and
similar words referring to future events and results. Forward-looking statements
are based on the current opinions and expectations of management. All
forward-looking information is inherently uncertain and subject to a variety of
assumptions, risks and uncertainties, including the speculative nature of
mineral exploration and development, fluctuating commodity prices, competitive
risks and the availability of financing, as described in more detail in our
recent securities filings available at www.sedar.com. Actual events or results
may differ materially from those projected in the forward looking-statements and
we caution against placing undue reliance thereon. We assume no obligation to
revise or update these forward-looking statements.


Sampling and Analytical Protocol: 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. The samples from the trenches
each weighed more than 5 Kg and were collected in continuous channels 4 cm deep
and 4 cm wide, varying between 0.5 and 2 m in length. Samples were prepared in
the Company's sample preparation facility, operated by Company technicians under
the 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 trench samples were dried, crushed and split. In
each case, a 200 gram sample was separated for delivery by bonded courier to
"ASAA" laboratories in Mendoza Argentina for analysis. All samples were assayed
for gold by Fire Assay with AA finish using 50 gram sample. Accuracy and
Precision of results is tested through the systematic inclusion of duplicates,
blanks and certified reference standards.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Latin American Minerals Inc.
Miles Rideout
President and CEO
Toronto: (1-416) 902-8558
information@latinamericanminerals.com

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