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VANCOUVER, April 12, 2012 /CNW/ - Plata Latina Minerals Corporation ("Plata Latina" or the "Company") is pleased to announce that its common shares commenced trading on the TSX Venture Exchange under the symbol 'PLA' following the completion of its C$3.45 million initial public offering earlier this week.
Plata Latina has been focusing its efforts on its 100% Naranjillo property where drilling has discovered a blind epithermal vein system with values up to 17,833 g/t silver and 71.81 g/t gold over 1.60 metres. This is within the Company's discovery hole, BDD-N-10, which encountered an intersection of 10.95 metres (true width of 7.74 metres) that assayed 3,181 g/t silver and 13.28 g/t gold. This is as previously disclosed in the Company's March 5, 2012 press release which also includes results from two additional holes returning significant assays. Results from all eight drill holes completed on the property are disclosed in Plata Latina's 43-101 technical report on Naranjillo filed on SEDAR (www.sedar.com). The Company is currently diamond drilling with a planned program consisting of 10,000 metres expected to be complete in the third quarter of 2012.
The Naranjillo property is regionally situated in the central part of the Mexican Silver Belt, approximately 35 kilometres southeast of the world-class Guanajuato epithermal silver-gold vein district in Mexico and is one of five new properties the Company plans to explore.
"We are very excited about bringing Plata Latina to the public markets as we believe there is considerable potential at Naranjillo as demonstrated by the high values returned from our first discovery hole," said Mike Clarke, Plata Latina's President and CEO. "Our objective is to discover Mexico's next potential epithermal silver-gold vein district and we are on our way as we continue with our extensive drill program this year. We look forward to sharing this journey with our investors."
This news release has been reviewed and approved by David St. Clair Dunn, P.Geo., a Qualified Person as defined under NI 43-101.
About Plata Latina Minerals
Plata Latina Minerals is a Canadian silver exploration company currently concentrating its drilling efforts on its 100% owned Naranjillo property which consists of 31,701 hectares and is located in Guanajuato, Mexico. The Company has four additional properties also located in the Mexican Silver Belt which have yet to be explored. Plata Latina's expertise in the ore horizon concept and extensive experience in Mexico provides a competitive edge for discovery of new districts between old historic deposits. Its highly experienced management team and board are focused on developing its portfolio of high-potential targets and exploring additional value-creation opportunities. The Company trades on the TSX Venture Exchange under "PLA".
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements and other statements that are not historical facts including statements about the intended use of proceeds from the initial public offering and planned exploration program. Such forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to vary materially from target results and the results or events predicted in these forward-looking statements. As a result, investors are cautioned not to place undue reliance on these forward-looking statements.
The forward-looking statements contained in this news release are made as of the date of this release. Except as required by applicable law, Plata Latina disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking information reflects the current expectations or belief of the Company based on information currently available and such information is subject to a number of assumptions, risks and uncertainties, including risks related to exploration, uncertainties related to financings; the uncertainties of interpreting exploration results and the other risks associated being a mineral exploration company.
For further information:
Letitia Cornacchia, Vice President, Investor Relations and Corporate Communications
Telephone: +1 416 860 6310