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Latin American Minerals Announces Closing of Oversubscribed Private Placement

Newsfile Corp.

Toronto, Ontario--(Newsfile Corp. - June 13, 2018) - Latin American Minerals Inc. (TSXV: LAT) (the "Company") announces that it has closed its previously announced non-brokered private placement by issuing 13,844,000 units ("Unit") at a price of $0.05 per Unit for gross proceeds of $692,200 (the "Offering"). Each Unit is comprised of one common share (a "Common Share") of the Company and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share for a period of two (2) years from the closing of the Offering at a price of $0.10 per Common Share.

The proceeds of the Offering will be used to reconfigure the mill, improve recoveries, initiate a drill program on the Paso Yobai gold project and for general working capital purposes. The securities issued pursuant to the Offering are subject to a hold period expiring on October 13, 2018.

Certain eligible persons (the "Finders") were issued Common Shares equal to 8% of the proceeds raised from subscribers introduced to the Company by such Finder, and also issued broker warrants (the "Broker Warrants") equal to 8% of the securities purchased by such subscribers. Each Broker Warrant entitles the holder thereof to purchase one Unit for a period of two (2) years from the closing of the Offering at a price of $0.05 per Unit. Each Unit is comprised of one Common Share of the Company and one Warrant. Each Warrant entitles the holder thereof to purchase one Common Share for a period of two (2) years from the closing of the Offering at a price of $0.10 per Common Share.

The closing of the Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101") as an insiders of the Company including an officer and director of the Company subscribed for an aggregate of 3,750,000 Units. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by the insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the private placement, which the Company deems reasonable in the circumstances in order to avail itself of the proceeds of the private placement and complete the Offering in an expeditious manner.

Eric Sprott, through his holding company, 2176423 Ontario Ltd., participated in the Offering, purchasing 2,000,000 Units for total consideration of $100,000 (representing a change in holdings of approximately 1.7% of the outstanding Common Shares on a non-diluted basis and 2.1% on a partially diluted basis assuming the exercise of all of Mr. Sprott's Common Share purchase warrants). As a result of this purchase, Mr. Sprott beneficially owns 35,333,334 Shares and 35,333,334 Share purchase warrants (approximately 27.2% on an undiluted basis and 42.8% on a partially diluted basis). Prior to this purchase, Mr Sprott beneficially owned 33,333,334 Shares and 33,333,334 Share purchase warrants (approximately 28.9% on an undiluted basis and 44.9% on a partially diluted basis). The Units were acquired for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities either on the open market or through private acquisitions or sell the securities either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. A copy of 2176423 Ontario Ltd.'s early warning report will appear with the Company's documents on the System for Electronic Analysis and Retrieval and may also be obtained by contacting Mr. Sprott at (416) 362-7172 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

About the Company

Latin American Minerals Inc. is a mineral exploration and gold mining company which holds its core gold project in Paraguay. The Company is currently expanding its Independencia Mine gold processing plant to encompass vat-leach gold recovery from mineralization extracted in open pit bulk mining activities at its fully permitted mining concession.

Management has identified exploration targets at Independencia Mine, and six new gold zones on the Company's adjacent exploration claims, for drill testing. This property package comprises the Company's 15,020 hectare Paso Yobai gold project.

For more information, please contact:

Mathew Wilson, President & CEO
Toronto: (1-416) 643-7630

E-mail: information@latinamericanminerals.com
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.

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 "will" 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 and 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.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.