/NOT TO BE DISTRIBUTED OR DISSEMINATED IN THE U.S./
TORONTO, Feb. 7 /CNW/ - South American Gold and Copper Company ("SAGC" or
the "Company") (TSX-SAG) announced today that it has signed an Option
Agreement for the acquisition of the Las Bellas Property, Alhue, Chile.
Las Bellas lies 75 kilometers south west of Santiago, Chile, and
12 kilometers south west of the Florida gold mine which is producing at the
rate of approximately 70,000 ounces of gold per year and is owned by Yamana
Gold Inc., following its takeover of Meridian Gold The surface leached
outcrops of the gold and polymetallic veins at Las Bellas are similar to those
of the Florida Mine.
Over the next 2 months a small field crew will prospect the 4000 hectares
(9,840 acres) of claims held by SAGC for gold veins. In addition, geochemical
soil sampling will be carried out on the 3500 meters of known vein outcrops.
Subsequent drilling will be based on geochemical results and after the
Company's Pimenton mine has been put back into operation which, as previously
announced, is expected to be in May 2008.
South American Gold and Copper Company Limited is a minerals producing,
exploration and development company with properties and activities currently
focused in Chile.
FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of Section 21E of the United
States Securities Exchange Act of 1934, as amended. Except for statements of
historical fact relating to the company, certain information contained herein
constitutes forward-looking statements. Forward-looking statements are
frequently characterized by words such as "plan," "expect," "project,"
"intend," "believe," "anticipate", "estimate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are subject to a variety
of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements. These factors include the inherent risks involved in the
exploration and development of mineral properties, the uncertainties involved
in interpreting drilling results and other ecological data, fluctuating metal
prices, the possibility of project cost overruns or unanticipated costs and
expenses, uncertainties relating to the availability and costs of financing
needed in the future and other factors. The Company undertakes no obligation
to update forward looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to place
undue reliance on forward-looking statements.
For further information:
For further information: Registered Office: 100 WELLINGTON STREET WEST,
SUITE 500, TORONTO, ONTARIO, M5K 1H1, CANADA; New York Representative Office:
420 MADISON AVENUE, NEW YORK, NEW YORK 10017; Santiago Office: LA CONCEPCION
266, OF. 704, PROVIDENCIA, SANTIAGO, CHILE, Telephone: 56-2-264-2295, E-Mail:
email@example.com; For further information, contact: Dr. David R. S. Thomson,
Director of Exploration, Telephone: 56-2-264-2295, Website: www.sagc.com