Latin American Minerals Announces Sale of Interest IN the Paso Yobai GOLD Project
LATIN AMERICAN MINERALS ANNOUNCES SALE OF INTEREST IN THE PASO YOBAI GOLD PROJECT
September 12, 2018 – Toronto, Ontario – Latin American Minerals Inc. (TSXV: LAT) (the “ Company”)
announces that it has sold its 100% interest in its subsidiary Latin American Minerals S.A which controls
100% of th e Paso Yobai Gold Projec t. The sale terminates all of the Company’s rights and obligations
related to the subsidiary. The subsidiary was sold to a local consortium.
As referenced in the press release dated August 24th, as a result of the strategic review process, the board
of directors received and reviewed several offers and alternative transactions which led to this transaction
and the sale of the company’s Paraguayan interests.
Latin American Minerals CEO Mathew Wi lson states : “Given g eneral weakness in the gold market,
particularly for this level of exploration, the decision was made to sell the asset. Starting with the Butt
Township project, the company is shifting its focus to more stable jurisdictions and prospects more aligned
with the company’s capabilities.”
Details of the transaction
The Company has sold its entire interest in its wholly owned Paraguayan subsidiary. The subsidiary holds
all exploration and prod uction interests in Paraguay. The com pany received net proceeds of $ 750,000
USD. A portion of the proceeds will be paid to business and legal advisors.
About the Company
Latin American Minerals Inc. is a mineral exploration company which holds its primary asset in Ontario,
Canada. The Butt Township Property consists of 1,280 hectares in Butt Township, District of Nipissing,
Ontario.
For more information, please contact:
Mathew Wilson, Mfin, CFA
President and CEO
Tel: 1-416-643-7630
E-mail: [email protected]
Website: www.latinamericanminerals.com
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
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this
release.
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This news release contains certain “forward -looking information” within the meaning of applicable securities law. Forward
looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”,
“estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or
conditions “may” or “w ill” occur. These statements are only predictions. Forward -looking information is based on the opinions
and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties a nd
other factors that could cause actual events or results to differ materially from those projected in the forward -looking
information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer
to the Company’s Management ’s Discussion and Analysis. The Company undertakes no obligation to update forward -looking
information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is
cautioned not to place undue reliance on forward-looking information.
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