Toronto,Ontario - Sept. 4, 1997

South American Gold and Copper Company Limited Announces Drilling Program on its Antena Project

Toronto, Ontario - South American Gold and Copper Company Limited (TSE symbol "SAG") announced today that it has initiated an exploration percussion drilling program on its Antena Prospect. SAGC has been focusing its exploration activities on Antena for the past eight months.

SAGC is a mineral exploration company with extensive gold properties in Chile and Peru. Its common shares are listed on The Toronto Stock Exchange under the symbol SAG.

For further information, Stephen W. Houghton, President and CEO; William C. O'Donnell, EVP and CFO (odonnell@sagc.com). Telephone: (212) 983-9300, fax: (212) 983-9314.