Here is a great reference:
http://www.handgunlaw.us/states/newmexico.pdf
Yes the posted signs must be 144 square inches. They have to comply with this law:
(1) be printed legibly in English;
(2) be at least one hundred fortyfour square inches in size;
(3) contain the name and address of the person under whose authority the property is posted or the name
and address of the person who is authorized to grant permission to enter the property;
(4) be placed at each roadway or apparent way of access onto the property, in addition to the posting of the
boundaries; and
(5) where applicable, state any specific prohibition that the posting is directed against, such as "no
trespassing," "no hunting," "no fishing," "no digging" or any other specific prohibition.
You can't be charged unless the owner tells you to leave and you fail to do so. As long as you leave without putting up a fight then there won't be a problem.