Toronto,Ontario - February 25, 2002
FOR IMMEDIATE RELEASE
South American Gold and Copper Company Limited Announces Completion of Private Placement Financing
Toronto, Ontario, Canada - South American Gold and Copper Company Limited (the "Company")(TSE Symbol SAG) is pleased to announce that it has completed a Cdn. $990,000 private placement consisting of 24,000,000 units, each unit comprised of one common share and one-half of one common share warrant, at a price of Cdn. $0.04125 per unit. Each whole warrant entitles the holder thereof to subscribe to one additional common share at a price of Cdn. $0.055 per common share for a period of 24 months from the date of issue. Proceeds of the financing will be used for mining claims acquisitions, drilling and working capital. IBK Capital Corp., Toronto, Canada, served as agent for the private placement. Stephen W. Houghton, President and Chief Executive Officer of the Company, stated that the private placement was initiated in early January 2002, prior to the increase in gold prices and the recent increase in the Company’s common share price as quoted on the Toronto Stock Exchange. Subsequent to the closing of the private placement financing, the Company had 184,705,351 shares outstanding. South American Gold and Copper Company Limited is a mineral exploration and development company with properties and activities currently focused in Chile. Its common shares are listed on The Toronto Stock Exchange under the symbol SAG. For further information, Stephen W. Houghton, President and CEO; William C. O’Donnell, EVP and CFO. Telephone: (212) 751-0083; fax: (212) 751-0319; and visit our website at http://www.sagc.com.
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