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Gold/Mining/Energy : Gold & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Andrew who wrote (938)	12/5/2003 5:38:24 PM
From: Nikole Wollerstein	Respond to of 29622

SUR.V SURBF Sur American Gold Corporation (TSX-V:SUR) is very pleased to advise that it has discovered gold rich mineralization in a +/-50 metre thick massive sulphide/magnetite skarn outcrop on the eastern side of the Agusan River in a completely separate area to the Comval Gold zone which occurs some 4k to the west. An initial 5 metre wide channel sample returned 3.05 g/t gold and a separate grab sample also returned 3.56 g/t gold. The massive sulphide/magnetite zone is believed to extend for about 500 metres along strike and at this stage can be traced vertically for about 100 metres. At this time, based on geological work previously carried out many other similar zones are believed to exist in a 6 km long north-south zone controlled by the Company. As a result of this highly encouraging and exciting new development a dedicated geological team has been assigned to map out and sample all of the massive sulphide/magnetite zones. In order to continue the active program at the Company's Comval gold project a replacement team is being formed. This discovery has potentially major implications for the Company as the 6 km long zone of skarn deposits (limestone rocks altered by diorite intrusions) has never been explored for gold mineralization. Previous exploration in the 1960's and 70's centred around copper exploration only which resulted in the outline of one porphyry copper-gold deposit and two sediment related massive sulphide copper deposits. No systematic assaying was undertaken for gold. Exploration at the Comval project only commenced in May, 2003 and has consisted of extensive trenching, mapping, sampling and assaying of more than 60 individual vein systems west of the Agusan River and in the case of the Batoto gold porphyry deposit in the southern sector of the project area, long intervals of gold mineralization occurring in quartz microveinlets between the major veins.