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Message: South American Gold and Copper Company Limited comments

on recent market activity



TORONTO, Dec. 30 /CNW/ - South American Gold and Copper Company (the
"Company") (TSX-SAG) announces that its board of directors has noted
the recent movements of its share price and daily trading volumes. The
Company is unaware of the precise reasons for such recent movements and
confirms that there have not been any new developments or undisclosed
material changes in the Company's business which would account for such
market activity. However, the Company has had informal discussions
with certain parties relating to the Company's future growth
opportunities although no formal binding agreements of any kind have
been entered into. At any given time, discussions and activities can
be in process on a number of initiatives, each at different stages of
development. The Company's corporate policy is not to comment on
rumours and, in accordance with applicable laws, the Company will
advise the market of material changes when they occur.

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

For further information:

Registered Office: Santiago Office:
79 Wellington Street West, Suite 2300 La Concepcion 266, Of. 704
Toronto, Ontario M5K 1H1 Providencia, Santiago, Chile
Canada Telephone: 56-2-264-2295

Toronto Office: For further information, contact:
67 Yonge Street, Of. 1201 Stephen W. Houghton, CEO
Toronto, Ontario M5J 1J8 E-Mail: [email protected]
Telephone : 416-369-9359 Telephone : 56-2-264-2295
Canada Website: http://www.sagc.com/">www.sagc.com

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