SOUTH AMERICAN GOLD AND COPPER COMPANY LIMITED

Registered Office: 100 WELLINGTON STREET WEST, SUITE 500 TORONTO, ONTARIO M5K 1H1 CANADA	New York Representative Office: 420 MADISON AVENUE NEW YORK, NY 10017
Santiago Office: LA CONCEPCION 266, OF. 704 PROVIDENCIA, SANTIAGO, CHILE Telephone : 56-2-264-2295 E-Mail: sagc@sagchile.cl	For further information, contact: David R. S. Thomson Director of Exploration Telephone: 56-2-264-2295 Website: www.sagc.com

FOR IMMEDIATE RELEASE – February 7, 2008

South American Gold and Copper Company Limited Announces Las Bellas, a New Gold Prospect.

Toronto, Ontario, Canada - 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 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.