| | Published : August 12th, 2009 | CEO and Executive Chairman Step Down |
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Latin American Minerals' CEO and Executive Chairman Step Down; Company
Provides Project Update
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TORONTO, ONTARIO - (Aug. 11, 2009) - Latin American Minerals Inc.
(the "Company") (TSX VENTURE:LAT)
announces that David Wahl resigned as President and CEO and as a director of
the Company. In addition, Michael Brown resigned as Executive Chairman and as
a director of the Company. Mr. Wahl is to receive severance in accordance
with a severance agreement which may be subject to regulatory approval.
The Company wishes to thank both Mr. Wahl and Mr. Brown for their dedicated
service to the Company.
In the near term, operations will be run by Waldo Perez, interim President
and CEO, and, in Toronto,
by Ray Mitchell, CFO.
Project Update:
Paso Yobai Gold Project
The Company concluded the third phase drilling program on the discovery zone
and released results on May 22nd 2009. Since that time the Company outlined a
new large soil anomaly 3 km
from the discovery zone extending over 2.5x3 km, with soil samples ranging
between 50 and 100 ppb. Soil geochemistry resulted in the discovery of the
original discovery zone and the Company has used this technique very
successfully to identify new gold mineralization in densely vegetated areas
of Paraguay.
The Company expects to have new drill targets in the new soil anomaly by Q4.
Itapotii Diamond Project
The stream sediment sampling program continues at this exciting new diamond
project in Paraguay.
On February 26th, 2009 the Company announced the discovery of 40
macro-diamonds in 177 streams sediment samples coming from an area of 20 x 50 km. Since then the
Company has collected 120 mores samples and found 14 more diamonds in the
streams. Other Kimberlitic Indicator Minerals ("KIMs")
found include garnets, chrome spinels and ilmenites. The Company completed a total of 685 line
kilometres of surface magnetic survey and identified a series of circular
magnetic anomalies near the headwaters were the diamonds and KIMs were found. The Company identified deeply altered
breccias in the headwaters of the diamond-bearing rivers. The breccias were
identified as collapse breccias of a younger age than the regional sediments.
The matrix of the breccias was sampled and 1 diamond was found. The Company
is currently testing the breccia-bearing areas with
auger holes where they coincide with magnetic survey anomalies for KIMs and diamonds.
Tendal Zinc Project
As previously announced (June 16, 2009), the Company
signed a heads of agreement and is negotiating a definitive agreement with
Cadillac Ventures Inc.
Potash and Lithium Salar Project
As previously announced, the Company sold its potash and lithium properties
to Lithium Americas Corp.. (June 11, 2009 press
release) and Lithium Americas completed a private placement of $1.575 million
(announced June 16, 2009). The Company currently owns approximately 30% of
Lithium Americas. Lithium Americas
is continuing the exploration work in the Cauchari
and Olaroz lithium salt lakes in Argentina.
Dr. Waldo Perez, P.Geo., interim President and CEO
of Latin American Minerals Inc., is the designated Qualified Person for the
Project and is responsible for the contents of this news release.
Latin American Minerals Inc. is a mineral exploration company focused on the
acquisition and development of exploration opportunities in South
America.
Investors are invited to visit the Latin American Minerals IR Hub at http://agoracom.com/ir/LatinAmerican where they can post questions and receive answers
or review questions and answers already posted by other investors. Alternatively,
investors are able to e-mail all questions and correspondence to
LAT@agoracom.com where they can also request to be added to the investor
e-mail list to receive all future press releases and updates in real time.
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, except as 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 43-101..
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Latin American Minerals Inc.
Ray Mitchell
(416) 363-0841
http://www.latinamericanminerals.com
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FEATURED LINKS
Latin Amerincan Minerals Website
Latin Amerincan Minerals IR HUB
CONTACT INFO
LAT@agoracom.com
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Latin American Minerals Inc.
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EXPLORATION STAGE |
CODE : LAT.V |
ISIN : CA51827X1015 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Latin American Min. is a gold exploration company based in Canada. Latin American Min. holds various exploration projects in Argentina, in Colombia and in Paraguay. Its main exploration properties are LA CAROLINA, RIO TENDAL and USPALLATA GRABEN in Argentina, PASO YOBAI in Paraguay and ESMERALDA (LATIN AMERICAN) in Colombia. Latin American Min. is listed in Canada. Its market capitalisation is CA$ 2.5 millions as of today (US$ 1.9 millions, € 1.6 millions). Its stock quote reached its highest recent level on June 20, 2014 at CA$ 2.50, and its lowest recent point on June 19, 2020 at CA$ 0.01. Latin American Min. has 70 440 000 shares outstanding. |
Financings of Latin American Minerals Inc. |
Option Grants of Latin American Minerals Inc. |
Project news of Latin American Minerals Inc. |
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Corporate news of Latin American Minerals Inc. |
8/2/2016 | Reconfiguration Of The Gold Processing Plant At The Independ... |
7/27/2016 | Latin American Minerals Announces Changes to Board and Grant... |
7/15/2016 | Protected: Shareholder Update – July 2016 |
7/13/2016 | Latin American Minerals Strengthens Board With New Directors |
7/11/2016 | Latin American Appoints Chief Operating Officer To Manage Mi... |
7/7/2016 | Latin American Minerals Initiates New Investor Relations Pro... |
7/6/2016 | Latin American Minerals Strengthens Management Team |
6/28/2016 | Latin American Minerals Announces Closing of Second Tranche ... |
6/11/2016 | Latin American Minerals Increases Amount of Private Placemen... |
5/31/2016 | Latin American Minerals Amends Terms of Private Placement an... |
5/31/2016 | Latin American Minerals Appoints New CFO |
4/12/2016 | Latin American Announces Closing of First Tranche of Private... |
4/1/2016 | Latin American Minerals Announces Gold Streaming Agreement a... |
1/28/2016 | Latin American Minerals Announces Appointment of Auditors |
1/4/2016 | Latin American Minerals Grants Incentive Stock Options |
12/30/2015 | Latin American Announces Effective Date of Consolidation |
12/22/2015 | Latin American Minerals Announces Shareholder Approval Of Co... |
12/22/2015 | Latin American Announces Shareholder Approval of Consolidati... |
10/29/2015 | Latin American Minerals Increases Private Placement to $1,50... |
10/26/2015 | Latin American Minerals Closes First Tranche of $1,000,000 P... |
10/26/2015 | Latin American Minerals Closes First Tranche of $1,000,000 P... |
10/6/2015 | Latin American Minerals Announces $1,000,000 Non-Brokered Pr... |
8/25/2015 | Latin American Minerals Closes $200,000 Financing, Announces... |
4/21/2015 | Latin American Minerals Announces Private Placement Financin... |
1/22/2015 | Latin American Minerals Extends Warrant Expiry |
1/9/2015 | Latin American Minerals Completes Construction of Three Heap... |
9/29/2014 | Latin American Minerals Reports Milestone: Heap Leach Proces... |
9/9/2014 | Latin American Minerals Extends Warrant Expiry |
7/11/2014 | Latin American Minerals Announces Closing of $1,000,000 Fina... |
6/27/2014 | Latin American Minerals Announces $1,000,000 Financing |
6/19/2014 | Latin American Minerals Secures Bank Loan; Pilot Heap-Leach ... |
4/25/2014 | Latin American Minerals Announces Closing of $422,000 Financ... |
9/6/2013 | LAT News Release - Sept. 6, 2013 |
5/22/2013 | LAT News Release - May 22, 2013 |
5/22/2013 | Adopts Advance Notice By-Law |
3/11/2013 | LAT News Release - March 11, 2013 |
9/10/2012 | LAT - News Release - September 10, 2012 |
8/29/2012 | LAT - August 29, 2012 - News Release |
7/24/2012 | LAT News Release - July 24, 2012 |
5/16/2012 | LAT - May 16, 2012 News Release |
3/6/2012 | LAT News Release - March 6, 2012 |
2/2/2012 | LAT - News Release - February 2, 2012 |
9/21/2011 | LAT News Release - September 21, 2011 |
7/6/2011 | LAT New Release - June 7, 2011 |
5/25/2011 | (Paso Yobai)' Paso Yobai Project Advances With Additional High Grade Gol... |
2/16/2011 | LAT - Feb. 16, 2011 - News Release |
10/6/2009 | Completes Previously Announced $1.5 Million Financing |
9/15/2009 | Addition of Gary O'Connor to the Board of Directors |
9/5/2009 | Exploration 2009: Network with the latin american mining sce... |
8/31/2009 | Reports on Heads of Agreement |
8/28/2009 | Updates Press Release Dated August 14, 2009 Regarding $1.5 M... |
8/12/2009 | CEO and Executive Chairman Step Down |
6/17/2009 | to Raise $1.575 Million for Its Lithium Properties |
6/12/2009 | and Grupo Minero Los Boros Combine Lithium Properties Into L... |
6/1/2009 | June 1, 2009 News Release |
5/22/2009 | May 22, 2009 News Release |
2/26/2009 | Closes in on the Source of 40 Macro-Diamonds Discovered at I... |
1/14/2009 | retains TRU Group Inc. to accelerate development of Salares ... |
11/13/2008 | Acquires Lithium Project in Argentina Following Positive Ini... |
7/22/2008 | Stakes Potash Projects in Puna Region, Argentina |
4/5/2006 | Announces closing of its qualifying transaction and concurre... |
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