SOUTH AMERICAN GOLD AND COPPER COMPANY LIMITED

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
William C. O’Donnell, EVP
Telephone: (212) 751-0083
Fax: (212) 751 0319
Website: http://www.sagc.com

FOR IMMEDIATE RELEASE – November 17, 2006

South American Gold and Copper Company Limited Announces New Management, a New Director, and a Proposed Capital Raising and Restructuring of the Company

Toronto, Ontario, Canada – South American Gold and Copper Company Limited (“SAGC” or the "Company") (TSX: SAG) announced today that, effective immediately, Thomas Sills, a founder and former President of Quincunx Gold Exploration Limited, currently trading as QGX Ltd. on the TSX, will become Chief Operating Officer. Also effective immediately, Michael Churchill will become Executive Vice President and a member of the Board of Directors and the Audit Committee.

South American Gold and Copper has also signed an advisory relationship agreement with PM Holdings Ltd., a Turks and Caicos Company (“PM”) to assist it in raising US $14,000,000 to put the Pimenton mine back into production and to undertake the restructuring of the Company.

Effective with PM’s raising the US $14,000,000 financing, Stephen W. Houghton will resign his title as President. Thomas Sills will become President and a Director of the Company. The Company also intends to expand its Board of Directors with seasoned mining executives. Once the financing is completed, the Company will have a majority of directors representative of new investors.

As part of the restructuring, subject to Toronto Stock Exchange and shareholder approval, the tentative plans are to spin off SAGC’s non core assets into separate companies. SAGC will emerge a focused gold and copper producing company on its 100% owned 5,700 hectare Pimenton gold mining property with gold and copper exploration upside on the associated porphyry copper deposit and the 100% owned 7,000 hectare Tordillo gold/copper property.

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

Thomas (Tom) Sills, BSc
Mr. Sills has been in the mineral industry for more than 35 years. He has been in exploration and development worldwide and while an associate of Watts, Griffis and McOuat Limited, a consulting engineering firm, wrote the Qualifying Report for SAGC’s listing on the TSE. Mr. Sills is familiar with SAGC’s mineral assets. Mr. Sills was a mine geologist during development of Northair Mines Ltd.’s very successful narrow vein gold mine in British Columbia, Canada.

Mr. Sills was one of the founders of Quincunx Gold Exploration Ltd. (now QGX Ltd., a TSX listed company) and was instrumental in acquiring 40,000 sq. km of land in Mongolia. Mr. Sills attended the University of San Diego for his undergraduate degree in geology.

Michael Churchill, MBA
Mr. Churchill is a merchant banker with interests in hedge fund, industrial, retail, resource, and biotech companies. He is a director of various private and TSX listed companies. He is co-founder of Palisades Capital Ltd. a privately held merchant bank. Palisades also provides consulting services to Hedge funds wishing to trade in small market and mid market capitalization securities.

Mr. Churchill is a graduate of the Richard Ivey School of Business at the University of Western Ontario having received a Masters of Business Administration in 1993.

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