Latin American Minerals Inc. is engaged in the exploration and development of resource properties. The Company has a 100%-owned subsidiary in Argentina, Latin American Minerals Argentina S.A.; a 100%-owned subsidiary in Paraguay, known as Latin American Minerals Paraguay S.A., and a 100% owned subsidiary in Paraguay, known as Minera Itapora S.A. The Paso Yobai gold project and the Chiriguelo niobium/rare earth element project are located in Paraguay. The Itapoty diamond project, also located in Paraguay, is now subject to an option agreement signed in July 2011 with Olivut Resources Ltd. The Tendal lead-zinc-copper-silver project is located in Argentina and was explored by Votorantim-Metais Argentina S. A. as of December 31, 2011. The Paso Yobai project comprises two main sectors: the Minera Guaira mining concession and two Latin American Minerals Paraguay S.A. prospecting properties (totaling 8,965 hectares).