Latin Metals Discovers New Copper Mineralization at Mirador Project, Argentina

Acquires 100% Interest in the Ventana Copper Project

VANCOUVER, British Columbia, July 17, 2023 (GLOBE NEWSWIRE) -- Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF), a leading mineral exploration company in South America, announces significant progress in its Mirador project in Argentina with the discovery of additional outcropping copper mineralization, where an extensive drainage survey is underway to screen the entire property. Initial prospecting at Mirador (previous news release January 17, 2023) identified outcropping sediment-hosted copper mineralization with one sample grading 2.4% copper. The discovery served as critical proof of concept for Latin Metals.

The recent mapping of additional outcropping copper mineralization builds upon this success, reinforcing the validity of the company's exploration thesis. Exploration at Mirador began last month and it is planned that the property will be systematically covered by drainage sampling and prospecting. At this early stage the Company's geologists have only walked over approximately 10% of this very large property and so it is encouraging to have already located additional outcropping copper mineralization. (Figure 1)

Figure 1: Newly discovered outcropping sediment-hosted copper mineralization at Mirador. Yellow dashed lines indicate minimum stratigraphic thickness of mineralization. Recent alluvial sediment obscures the geological boundary.

In addition to the advancements at Mirador, Latin Metals is pleased to report the acquisition of a 100% interest in the Ventana copper project (“Ventana” or the “Project”) through an agreement with Dreston SRL (“DSRL”), pursuant to which Latin Metals has purchased from DSRL (via an indirect subsidiary of Latin Metals), a 100% interest in the Project (Figure 2), for total cash consideration of $1,000,000 Argentine pesos. Situated in Salta Province, northwest Argentina, the Ventana project presents additional prospects for the discovery of sediment-hosted copper mineralization.

Together with the Company's Mirador project and the recent acquisition of the Solario project, this additional acquisition further solidifies Latin Metals' position as first mover in this emerging copper belt.

Figure 2: Location of the newly acquired Ventana Project (red highlights), together with Mirador and Solario Projects.

Ventana Project Highlights:

• Ventana Acquisition: Latin Metals now fully controls the Ventana project, encompassing an extensive 176,000 hectares in Salta.

• Exploration Potential: The Ventana project is favorably situated in the Cretaceous belt in central Salta, which the Company believes has potential for sediment-hosted copper deposits.

• Untapped Region: Latin Metals' foresight has identified considerable exploration potential in the underexplored rift area of central Salta. The region shares geological characteristics with global sediment-hosted copper deposits, yet it remains underexplored.

Future Work