Mr. Keith Henderson reports

LATIN METALS ANNOUNCES PRIVATE PLACEMENT FOR GROSS PROCEEDS UP TO $2.0 MILLION

Latin Metals Inc. has arranged a non-brokered private placement for gross proceeds of up to $2-million.

The company announces a non-brokered private placement of up to 25 million units for a subscription price of eight cents per unit, to raise total gross proceeds of up to $2-million. Each unit will consist of one common share in the capital of Latin Metals and one-half of one common share purchase warrant, with each whole warrant entitling the holder thereof to purchase one share at a price of 15 cents per share for a period of 24 months from the closing of the financing. Certain directors and officers of the company are expected to subscribe for approximately 10 million units under the financing (for gross proceeds of $800,000).

The proceeds of the financing are intended to finance exploration and generative work and for general working capital.

The company may pay finders' fees on all or a portion of the financing, consisting of a cash commission equal to up to 7 per cent of the total gross proceeds raised and finder warrants equal to up to 7 per cent of the total number of units issued, where each finder warrant will entitle the holder thereof to purchase one share at a price of eight cents per share for a period of 12 months from the closing of the financing.

All securities issued in connection with the financing will be subject to a hold period of four months and one day in Canada. The financing is subject to the receipt of all necessary approvals, including acceptance for filing of the financing by the TSX Venture Exchange and any applicable securities regulatory authorities. Any participation by directors or officers in the financing is considered a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The related party transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities to be issued under the financing nor the consideration to be paid by the directors and officers will exceed 25 per cent of the company's market capitalization.

We seek Safe Harbor.