Atacama Private Placement Closed

2008-08-19 13:08:00

VANCOUVER, BRITISH COLUMBIA–(EMWNews – Aug. 19, 2008) –

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Atacama Minerals Corp. (“Atacama” or the “Company”) (TSX VENTURE:AAM) reports that it has closed the private placement announced on July 22, 2008. The Company sold on a brokered and non-brokered private placement basis, an aggregate of 50,025,000 common shares of the Company at a price of $1.00 per common share for gross proceeds of $50,025,000. The brokered portion of the private placement was sold by a syndicate of agents co-led by GMP Securities L.P. and Cormark Securities Inc. and included Haywood Securities Inc. 10,000,000 of the common shares sold in connection with the private placement were placed by Trimark Capital Inc.

A 5% fee will be paid on a portion of the private placement. Net proceeds of the private placement will be used towards development of the Company’s nitrate fertilizer operations and for general working capital purposes.

The private placement has received conditional regulatory approval. Shares issued pursuant to the private placement will be subject to a four month hold period expiring December 20, 2008.

On behalf of the Board,

Edward F. Posey, President and CEO

This news release contains forward-looking statements concerning the Company’s plans for its operations. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company’s exploration and development of its properties, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.

“This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.”

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

For more information, please contact

Atacama Minerals Corp.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
Website: www.atacama.com

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