GARDNERVILLE, NV -- (MARKET WIRE) -- 04/11/2007 -- Sao Luis Mining, Inc. (PINKSHEETS: SAOL) (FRANKFURT: F5G) (www.saolmining.com), a "conflict free" diamond mining and precious metals exploration company, is pleased to announce that it has obtained a US$500,000 commitment from a Swiss investment group headed by Stephan Muller, a recently elected member of its Board of Directors.

The transaction involves the sale of 2,000,000 shares of restricted common stock at a fixed price of $0.25 per share. The shares carry trading restrictions and were therefore sold at a discount to the Company's recent, publicly traded market price. US$300,000 will be funded immediately upon completion of the documents and the additional US$200,000 within 30 days.

"This private placement commitment shows continued investor confidence in our business strategy," says Michael J. Dillon, the Company's President and Chairman. "We are allocating a portion of the funds to retain the public accounting firm of Kabani & Company to perform an audit of the Company's operations and its mining assets in Brazil in connection with its plans to become a fully reporting company under U.S. Securities and Exchange Commission (SEC) regulations."

About Sao Luis Mining:

Sao Luis Mining, Inc. (PINKSHEETS: SAOL) is a "conflict free" diamond mining and precious metals exploration company. Its strategy is to acquire interests in producing mines and develop properties that have the promise to be economically viable. Sao Luis Mining has a 51% joint venture interest in Comercio e Mineracao Sao Luis Ltda., which operates two diamond properties and an existing processing plant in the Sao Luis River Basin. The operation is located in the state of Mato Grosso, which is the most productive diamond district in Brazil and responsible for 61% of all the legally mined diamonds in Brazil in 2005. Additional information, including a photo gallery and geological report, is available at the Company's website www.saolmining.com.

Forward-Looking Statements:

This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate," "expect," "anticipate," "projected," "planned," forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, not guarantees of Sao Luis Mining, Inc.'s future operational or financial performance, and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.