SOUTH AMERICAN GOLD AND COPPER COMPANY LIMITED

/NOT TO BE DISTRIBUTED OR DISSEMINATED IN THE UNITED STATES/

South American Gold and Copper Company Limited Announces the Extension of its Outstanding Warrants Issued on September 9, 2008.

TORONTO, Aug. 25 /CNW/ - South American Gold and Copper Company Limited ("SAGC" or the "Company") (TSX-SAG) announces the extension of the term of the Company's 8,137,911 outstanding common share purchase warrants (each, a "Warrant") issued to arm's length parties by the Company in conjunction with a private placement of 38,275,822 units (each, a "Unit) of the Company completed on September 9, 2008. Each Unit was comprised of one common share (each, a "Common Share") of the Company and one half of one Warrant. Such Warrants are exercisable at a price of $0.07 per share and are currently due to expire at 5:00 p.m. (Toronto time) on September 9, 2010 (the "Expiry Time").

No insider of the Company is a holder of the Warrants. The Warrants have been amended, effective immediately prior to the Expiry Time, to extend the Expiry Time until 5:00 pm (Toronto time) on September 9, 2011. There is no public market for the Warrants. All other provisions of the Warrants remain unamended. The Toronto Stock Exchange (TSX) has approved the amendment subject to receipt by the TSX of standard documentation.

The Company has 841,177,633 common shares issued and outstanding.

South American Gold and Copper Company Limited is a minerals producing, exploration and development company with properties and activities currently focused in Chile.


SOURCE Cerro Grande Mining Corporation

For further information: For further information:

Registered Office:
79 Wellington Street West, Suite 2300  
Toronto, Ontario M5K 1H1
Canada
Santiago Office: 
La Concepcion 266, Of. 704 
Providencia, Santiago, Chile
Telephone: 56-2-264-2295
   
Toronto Office:
67 Yonge Street, Of. 1201
Toronto, Ontario M5J 1J8
Telephone : 416-369-9359
Canada
For further information, contact:
Stephen W. Houghton, CEO
E-Mail: sagc@sagchile.cl
Telephone : 56-2-264-2295
Website:www.sagc.com


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