To: Canuck Dave who wrote (20978 ) 11/22/2004 11:25:25 AM From: basserdan Respond to of 312891 Hi Dave, I know this one has treated you well in the past and now that Blair's 11-04 warrants have been excercised, it's prolly time to get back in.... <g>Sur American Gold Corporation: Further Significant Exploration Developments at Comval Gold Project Monday November 22, 10:27 am ET VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 22, 2004--Sur American Gold Corporation (TSX VENTURE:SUR - News) is very pleased to provide an update on further significant exploration developments at its Comval Gold Project, Philippines. COMVAL GOLD PROJECT, COMPOSTELA VALLEY * Exploration continues to expand the size of the Batoto project with the discovery of a further 600 metre wide zone adjacent to the 1000 metre wide zone recently announced. The Batoto alteration system is now believed to be more than 3500 metes in a SW-NE direction and 2500 metres in a NW-SE direction. This represents a mineralized system of potential world class size. Initial sampling is in progress and free gold has been panned from several areas. * The Clark exploration crosscut at Batoto which the Company believes may represent typical grade type distributions for Batoto has now progressed 100.5 metres from the tunnel portal. The crosscut continues to encounter a wide higher grade zone now 40.5 metres wide and averaging 3.10 g/t gold. Overall the crosscut averages about 2 g/t gold with every 2-4 metre sampling interval well mineralized. * The sampling results from the Clark Crosscut which is between 20-50 metres below the surface clearly support the strong possibility of bulk open cut mining at Batoto with processing by simple CIP and/or heap leaching methods. It should be stressed that the crosscut represents a very small percentage of the overall size of the Batoto system. * Given the excellent metallurgy of the plus 100 tonnes of mineralization already extracted and treated from this area, and based on other case studies around the world including Round Mountain, Nevada which leaches 0.55 g/t gold and Yanaccocha, Peru which leaches 0.9g/t gold, the Company is of the firm opinion that grades in excess of 0.5g/t gold are potentially economically "interesting". * At the Tarale zone high grades continue to be obtained from most vein developments and in particular Tarale 11 a flat lying vein which averages about 1.2 metres in true thickness. The most recent sample returned 79.73 g/t gold over a true thickness of 1.5 metres. In addition the immediate zone below the vein for a distance of 1 metre returned 28.77 g/t gold and the immediate area above the vein returned 0.73 g/t over a similar interval. These results continue to support the possibility of future bulk mining of the overall Tarale zone. * As previously reported and following the continued excellent metallurgical characteristics as determined from the CIP trial processing the Company is now proceeding rapidly to establish an on-site trial heap leaching operation at the JB Mining and processing facility. The Company believes that positive results from this trial could result in future operations at Comval involving both CIP and heap leaching operations. * Results from the gradient array induced polarization geophysical survey are expected at the end of November. The survey results will be reviewed along with all of the exploration data collected in 2004 and a final decision of when and where the initial drilling program will commence will be made in early December. Assays are undertaken at the JBMM laboratory at Monkayo, Compostela Valley Province using the 30 gram fire assay method with frequent check assaying undertaken at the IPL Laboratories in Vancouver, Canada, an ISO certified laboratory. To date the Company has established excellent comparison between assays undertaken locally and those completed in Vancouver. The Company is also very pleased to report that 71.7% of the $0.35 warrants issued during a financing in November 2003 (or $1,004,000) have been exercised. Total cash now available to the Company in Canada and the Philippines is approx. $2,500,000. The remaining warrants are exercisable at $0.50 per warrant until November 19, 2005. All sampling practices are approved by Mr Rennie Blair, Company President who is the qualified person as required by National Policy 43-101 and who is the technical person responsible for this news release. Sur American Gold Corporation trades on the TSX Venture Exchange (Canada) with trading symbol SUR-V. On behalf of the board of directors J. Rennie Blair, President biz.yahoo.com