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SOUTH AMERICAN GOLD AND COPPER COMPANY LIMITED
Registered OfficeNew York Representative Office SUITE 800, PURDY’S WHARF420 MADISON AVENUE 1999 UPPER WATER STREET, TOWER 1NEW YORK, NEW YORK 10017 HALIFAX, NOVA SCOTIA 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 – May 10, 2005 South American Gold and Copper Company Limited Announces Drill Hole Extended on Pimenton Porphyry Deposit Toronto, Ontario, Canada – South American Gold and Copper Company Limited (“the Company”) (Toronto Stock Exchange Symbol SAG) announced today that Drill Hole PMDD1, currently being drilled on the Pimenton porphyry copper deposit by the Company and Rio Tinto Exploration Ltd. (“Rio Tinto”) under the terms of an agreement with Rio Tinto, has been extended beyond the originally projected 650 meter length at 61º to 845 meters (2,771 feet) as of 9:00 AM Eastern Standard Time today and drilling will be continued as long as visual inspection of the drill core is favorable. Once drill hole PMDD1 is completed, the drill rig will move to a new location. Drill core is now being split as drilling progresses and samples will be sent to Santiago, Chile, for sample preparation. Pulps from the samples will be sent to a separate laboratory for assaying.The Company does not expect assay results to be available before mid-June 2005. Dr. David R. S. Thomson, Executive Vice President and Director of Operations, with more than forty years exploration and development experience in Chile and Peru, and a “Qualified Person,” stated, “While we are in a very preliminary stage of drilling on the porphyry copper deposit at Pimenton, we are encouraged by the results to date.” See the Company’s new release dated March 29, 20005, for more information on the agreement between the Company and Rio Tinto. 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 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.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. |