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Message: South American Gold and Copper Company Limited Announces Start of

Drilling at Its Porphyry Copper Deposit at Pimenton



TORONTO, Feb. 16 /CNW/ - South American Gold and Copper Company Limited
(the "Company") (TSX: SAG) reported today that it has started to drill
its porphyry copper deposit at Pimenton.

Drill hole PP No. 1 will be drilled to a depth of approximately 600
meters and located 200 meters to the north of PM-DD-004 which was
drilled by Rio Tinto to a total depth of 681 meters and encountered 279
meters of 0.4% copper and 0.43 grams per ton of gold.

PP No. 1 will be the second hole drilled by the Company utilizing its
newly acquired diamond drill rig which is rated to drill to a total
depth of 1,500 meters.

The first hole was drilled inside the Pimenton gold/copper mine to a
length of 420 meters. Assay results from this first hole by an
independent laboratory are expected within three weeks at which time
they will be released.

The Company cautioned that PP No. 1 may be subject to the potential
delays encountered when utilizing a brand new drill rig.

Dr. David R. S. Thomson, EVP of Exploration, a Qualified Person under NI
43-101, has reviewed and approved this News Release.

South American Gold and Copper Company Limited is a minerals producing,
exploration and development company with properties 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," "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 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.

For further information: Registered Office: 79 WELLINGTON STREET WEST SUITE 2300 TORONTO, ONTARIO M5K 1H1 CANADA Santiago Office: LA CONCEPCION 266, 0F, 704 PROVIDENCIA, SANTIAGO, CHILE Telephone: 56-2-264-2295

Toronto Office: 67 YONGE STREET, OF. 1201 TORONTO, ONTARIO M5J 1J8 CANADA For further information, contact Stephen W. Houghton, CEO David R. S. Thomson. EVP E-Mail: [email protected] Telephone: 56-2-264-2295 Website: http://www.sagc.com/">www.sagc.com

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