Compania Minera Auromin Ltda. - Acquisition of securities



    TORONTO, June 9 /CNW/ - Compania Minera Auromin Ltda. ("Minera"), a
company wholly-owned by David Thomson, a director and officer of South
American Gold and Copper Company Limited (the "Company"), announces that it
has acquired 2,315,223 common shares of the Company ("Common Shares") in full
payment of the annual interest payment due to Minera on a certain outstanding
convertible debenture issued in April 2006 ("the 2006 Debenture"). For more
details regarding the 2006 Debenture, see the Company's news release dated
March 24, 2006 available under the Company's profile at www.sedar.com. Minera
also acquired 5,862,731 Common Shares representing payment in full of the
outstanding principal amount on the 2009 Debenture and 26,351,520 Common
Shares representing payment in full of the principal amount outstanding on a
certain outstanding convertible debenture issued in February 2009 (the "2009
Debenture"). For more details regarding the 2009 Debenture, see the Company's
news release dated October 8, 2008 available under the Company's profile at
www.sedar.com. Prior to giving effect to the issuances described above, Mr.
Thomson held through Minera 53,126,952 Common Shares representing
approximately 7.08% of the issued and outstanding Common Shares.
    As a result of the issuances described above, Mr. Thomson now owns and
controls a total of 87,656,426 Common Shares representing 11.06% of the issued
and outstanding common shares of the Company. Mr. Thomson also holds or
controls, directly and indirectly, Common Share purchase warrants to purchase
an aggregate of 8,000,000 Common Shares at prices ranging from CDN$0.045 to
CDN$0.09 per share and stock options to purchase an aggregate of 9,000,000
Common Shares.
    Assuming the exercise of the 8,000,000 Common Share purchase warrants and
9,000,000 stock options held directly and indirectly by Mr. Thomson when added
to the 34,529,474 Common Shares acquired by Mr. Thomson through Minera
pursuant to the issuances described above, Mr. Thomson would hold and control,
directly and indirectly, 12.92% of such outstanding Common Shares on a
partially diluted basis. Mr. Thomson may in the future increase or decrease
his ownership of securities of the Company from time to time depending upon
the business and prospects of the Company and future market conditions.
    Minera's address is La Concepcion 266, Of. 701, Providencia, Santiago,
Chile.




For further information:

For further information: David Thomson, Phone: 56-2-264-2295, Fax:
56-2-264-2309

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Compania Minera Auromin Ltda.

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