SOUTH AMERICAN GOLDAND COPPER COMPANY LIMITED 

Registered OfficeNew York Representative Office

SUITE 800, PURDY’S WHARF420 MADISON AVENUE

1999 UPPER WATER STREET, TOWER 1NEWYORK, NEWYORK10017

HALIFAX, NOVASCOTIA B3J 2X2

For further information, contact:

Stephen W. Houghton, President

William C. O’Donnell, EVP

Telephone:(212) 751-0083

Fax:(212) 751 0319

Website: http://www.sagc.com

 

FOR IMMEDIATE RELEASE – March 29, 2005

South American Gold and Copper Company Limited Announces Preliminary Exploration Results on its Tordillo Gold/Copper Prospect

Toronto, Ontario, Canada – South American Gold and Copper Company Limited (“the Company”) (Toronto Stock Exchange Symbol SAG) announced today the results of a preliminary exploration program on its recently acquired 100% owned Tordillo gold/copper prospect which covers an area of 7,000 hectares and lies 11.5 kilometers South Southwest of the Company’s Pimenton gold mine and porphyry copper deposit.

Dr. David R. S. Thomson, Executive Vice President and Director of Exploration, stated that two outcropping structures trending North 30º West measuring up to 20 meters across, which may extend in excess of 1,000 meters in length, have been identified during preliminary exploration on Tordillo over the past six weeks.

Initial sampling of separate quartz veins at one location within the 20 meter North 30º West trending structure gave the following values:

 

Sample Width

Grams Gold/T

% Copper

Grams Silver/T

 

 

 

 

 

 

 

 

0.25 mt

1.61

1.61%

5.0

 

 

0.35 mt

7.75

11.27%

29.0

 

 

0.50 mt

6.86

5.56%

7.0

 

 

0.10 mt

7.39

2.33%

17.0

 

 

0.40 mt

31.49

17.63%

25.0

 

 

0.30 mt

0.15

0.79%

3.0

 

 

0.10 mt

37.14

9.26%

71.0

 

 

These assays were performed by ACME Laboratories, S.A., Santiago, Chile, using the fire assay method.

Further systematic sampling of this North 30º West trending structure is currently in progress.

Dr. Thomson also reported that to the South of the North 30º West structure there is a 400 to 500 meter wide North South zone which extends for over 1,600 meters carrying in places disseminated and veinlet specularite and chalcopyrite within altered and brecciated intrusive.Current plans are to run mobile metal ion (MMI) traverses over the North 30º West trending structure area of mineralization and to follow the extension to the south before the end of this current summer season.

Dr. Thomson commented that while the exploration results to date are encouraging, further exploration results will determine if a drill program on this target area is justified next year.To date, less than 10% of the 7,000 hectares area encompassing Tordillo has been explored.

The preliminary exploration program on Tordillo was carried out under the direction of Dr. Thomson, who has more than forty years of exploration experience in Chile and Peru.

The Tordillo prospect and the Company’s Pimenton gold mine and porphyry copper deposit lie within the Central porphyry copper belt of Chile in an area of current and intense exploration activity.

South American Gold and Copper Company Limited is a minerals producing, exploration and development company with properties and activities currently focused in Chile.

Certain information contained in this press release constitutes “forward looking statements” within the meaning of securities laws. Forward-looking statements may relate to the future outlook of the Company and anticipated events or results.In particular, statements regarding the Company’s future operating results and economic performance are forward-looking statements.Forward-looking statements are made on management’s belief as well as assumptions made by and information currently available to, management of the Company.While such beliefs and assumptions are considered reasonable by the Company, they are inherently subject to significant business, economic and competitive uncertainties and contingencies or they may prove to be incorrect.Important factors which could cause actual results to differ materially from those projected in the forward-looking statements include fluctuations in the market price of gold, changes in government legislation in the countries in which the Company operates, business opportunities which may be presented to or pursued by the Company, contests over title to properties, general and environmental risks and hazards associated with mining.Many of these issues can affect the Company’s actual results and could cause its actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of the Company.Readers are cautioned that forward-looking statements are not guarantees of future performance, and should not place undue reliance on them.The Company expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein to reflect any change in expectations with regard thereto or any changes in events, conditions or circumstances on which any statement is based.