Registered Office New York Representative Office
SUITE 800, PURDY’S WHARF 420 MADISON AVENUE
1999 UPPER WATER STREET, TOWER 1 NEW YORK, NEW YORK 10017
HALIFAX, NOVA SCOTIA B3J 2X2
For further information, contact:
Stephen W. Houghton,
President and CEO
Telephone: (212) 751-0083
Thomas K. Sills,
Chief Operating Officer
Telephone: (416) 527-0475
Michael Churchill,
EVP
Telephone: (416) 678-0928
Website: www.sagc.com
Not to be distributed or disseminated in the U.S.
FOR IMMEDIATE RELEASE – May 15, 2007
South American Gold and Copper Company Limited Announces New President and Director of the Company
Toronto, Canada, South American Gold and Copper Company Limited (the Company”), (TSX: SAG) is pleased to announce the immediate appointment of Mr. Patrick Esnouf as President and a Director of the Company.
Patrick Esnouf holds a B.Commerce (Hons) degree from the University of Natal, South Africa and an MBA from INSEAD, in France. He is a resident of Santiago, Chile. He has broad-based experience in the business of mining, finance, new ventures, mergers and acquisitions, strategic planning and general management of mining and industrial enterprises. As President, he will be responsible for strategic planning and business strategy for the Company. He will also be responsible for reviewing alternative financing strategies for the Company.
Since leaving Anglo American in late 2004 Patrick Esnouf established his own business through which he has consulted to several industrial companies and investment funds/ banks with mining and related interests in South America. He joined the Board of Directors of Andean Resources in 2005 of which he is now Chairman. Andean Resources is a listed Australian junior gold mining company, soon to be listed on the TSX, with properties in Argentina. He is a Director of Volcan S.A., the largest zinc producer in Peru and of the Chamber of Mines of Chile.
He rose through the ranks in a 25 year career to become Chairman of Anglo in South America. He was also lead Director of Anglo Group companies in Venezuela, Brazil and Peru. He was an Executive Director of Anglo American Corporation of South Africa Ltd., the country’s largest company.
In 2001-2002 he played a leading role in acquiring from Exxon Corporation its Chilean operations for Angle American for US $1.3 billion. As country manager for Anglo American in Chile and Peru from 1997 to 2001 he was President and CEO of Mantos Blancos, Chile; President of the Quellanco Copper Project in Peru and Chairman of Minera Collahuasi in Chile.
Stephen W. Houghton, Chief Executive Officer of the Company stated, “We welcome Patrick as President and a Director. His extensive experience in the mining industry in Latin America will be a great addition to the Company as we pursue our strategy for putting the Pimenton gold mine into operation, in our exploration of the Pimenton porphyry with Anglo American and the potential sale or joint venture of our limestone assets.
Patrick Esnouf stated: “I have known and respected David Thomson for many years. He was a leading figure in Anglo`s early exploration campaigns in this region. I am also quite familiar with the assets of South American Gold and Copper Company Limited and with the members of the management team. I hope to help the Company reestablish itself in the capital markets as a gold producer with exciting future prospects and with the development of the Company’s other projects.”
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.