IAMR - InterAmerican Resources, Inc. (fka IAMR)

[jmhollen]

Inter-American Resources Completes Acquisition of 100% of Sovereign Resources, Inc.

MIAMI, Oct 18, 2001 (BUSINESS WIRE) -- Inter-American Resources, Inc. ("Inter-American") (OTC:IAMR) today consummated a merger with Sovereign Resources, Inc. ("Sovereign"), a private Florida corporation which is involved in the acquisition, exploration and development of world-class mineral deposits. Subsequent news releases will provide additional information on Sovereign's mineral assets and exploration programs.

Sovereign was merged with and into Inter-American, resulting in Sovereign becoming a newly-formed, wholly-owned subsidiary of Inter-American. The shareholders of Sovereign exchanged their shares of Sovereign for common shares of Inter-American; in aggregate, Sovereign's shareholders now hold approximately 80% of the issued and outstanding capital stock of Inter-American.

ON BEHALF OF THE BOARD

Allan Smith President

CONTACT: InterAmerican Resources, Inc., Miami
Allan Smith, 305/438-0020
email: [e-mail]

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