Work on the Esperanza adit, the new main operating access to the mine, is in progress.

The old damaged plant roof, walls and supporting structures have been completely removed. Work is on schedule on a retaining wall on which a new roof will rest. The new roof will be smaller and much stronger than its predecessor and installation can be completed while the plant is in operation.

Plant reconditioning is on schedule. Most of the equipment damage occasioned by the collapse of the old roof has been repaired. To improve plant efficiency, a 100 ton fine ore bin is being installed as well as a new filter press.

The repaired and improved plant will have an operating capacity of 220 tons per day. Initially, the plant is expected to operate at 50 tons per day (TPD) gradually increasing to 100 TPD, and then to plus 200 TPD as mine development progresses.

Additional snow removal equipment has arrived in Santiago, and further equipment has been ordered for delivery by May 2008. It is management’s intention to keep the mine in operation through the coming Chilean winter months.
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.