Latin American Minerals Inc. (TSX VENTURE: LAT) (the "Corporation") wishes to update the news release issued on August 14, 2009 announcing the proposed private placement for a maximum of 10,000,000 units ("Units") at $0.15 per Unit for maximum gross cash proceeds of $1.5 million (the "Private Placement"). The

Private Placement will be completed on a non-brokered basis. In addition, the proceeds from the Private Placement will be used for general and administrative purposes and not, as previously stated, for lithium projects, which the Corporation sold (see the Corporation's press release of June 11, 2009).

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.

Neither the 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.