South American Gold and Copper Company Limited Announces Start of Drilling on Porphyry Deposit at Pimenton.


    TORONTO, Jan. 29 /CNW/ - South American Gold and Copper Company ("SAGC"
or the "Company") (TSX-SAG) announced today that Anglo American Norte S.A.
formerly known as Empresa Minera de Mantos Blancos S.A., a wholly owned
subsidiary of Anglo American plc, has begun drilling on the Porphyry Copper
deposit at Pimenton.
    This second diamond drill hole by Anglo American is scheduled for 1,000
meters and will be placed midway between Rio Tinto holes 4 and 6 and will have
an azimuth of 70 degrees and the inclination of about 80 degrees. Rio Tinto's
drill hole 4 was drilled to a total depth of 591 meters and cut 279 meters of
0.40% copper and 0.43 grams gold per ton with a tendency of the grade of
copper to increase with depth. Rio Tinto's drill hole 6 was drilled to a total
depth of 170 meters and cut 70 meters of 0.46% copper and 0.49 grams of gold
per ton.
    The results of the drilling by Anglo American will be published when
obtained which is expected to be in late March to mid April 2008.
    Pictures of the Anglo American drill rig at Pimenton will be posted on
the Company's website in the near future.

    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: Stephen W. Houghton, C.E.O., David R. S.
Thomson, E.V.P., Exploration, Telephone: 56-2-264-2295, Website:

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