atacama minerals CORPORATE UPDATE

May 08, 2008 (AAM - TSXV) … Atacama Minerals Corp. (“Atacama” or “the Company”) reports that the Company has granted an aggregate of 2,132,500 incentive stock options to eligible persons, including directors and officers.  The options are exercisable over a period of 3 years at a price of Cdn $0.91 per share.

Atacama Minerals Corp is an industrial minerals company dedicated to the production of high quality iodine. The Company has and will continue to aggressively pursue other growth opportunities through strategic planning, exploration, acquisition and joint ventures that are in line with the Company’s business model to become a major producer of industrial minerals. In keeping with this plan and given the global market for nitrate fertilizers focusing on agri-business which is rapidly growing with increasing worldwide demand, the Company undertook and has completed a feasibility study for the production of nitrate fertilizers and will be submitting it shortly for board consideration.

On behalf of the Board,

Edward F. Posey

President

For further information, please contact:

Sophia Shane, Corporate Development (604) 689-7842