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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (29433)	11/24/2008 9:56:20 PM
From: LoneClone	Read Replies (1) \| Respond to of 193312

South American Gold and Copper Company Limited Announces Commercial Production at its Pimenton Gold/Copper Mine. Mon Nov 24, 10:41 AM ca.news.finance.yahoo.com /NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES/ TORONTO, Nov. 24 /CNW/ - South American Gold and Copper Company Limited (the "Company") (TSX: SAG.TO) has declared commercial production at its 100% owned Pimenton gold/copper mine effective as of October 1, 2008. The Company will report revenues from gold and copper sales, smelting costs, operating costs, development costs and related information in its quarterly report to shareholders for its first fiscal quarter ending December 31, 2008. During the month of October, the plant at Pimenton was in operation for 21 days at an average production rate of 91.43 tons per day. The head grade into the plant averaged 15.43 grams of gold per ton, silver averaged 14.38 grams per ton and copper averaged 1.17%. The recovery rate was 94.4% for gold, 77.6% for silver and 88.0% for copper. Improvements were made to the mill circuit during the ten day shut down period. The head grades into the plant are based on assay results taken by the Company's own assay laboratory at the mine site with check assays conducted by Act Labs Chile S.A., an ISO 9001-2000 rated laboratory located in La Serena, Chile. Gold assays by both laboratories were by fire assay. South American Gold and Copper Company Limited is a minerals producing, exploration and development company with properties and activities currently focused in Chile. "Cautionary Statement Regarding Forward-Looking Information. Except for statements of historical fact, all statements and information in this press release, including without limitation, statements and information regarding the Pimenton gold mine, forecasted production, future plans, financing requirements, objectives and results constitute forward-looking information within the meaning of applicable Canadian securities legislation, which involve risks, uncertainties and assumptions, many of which are beyond our control. All such forward-looking information is based on certain assumptions and analyses made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. Actual results, performance or achievements could differ materially from those expressed in, or implied by, such forward looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits will be derived there from. Except as required by law, South American Gold and Copper Company Limited and its subsidiaries, expressly disclaim any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained herein is expressly qualified by this cautionary statement." Contacts Stephen W. Houghton CEO David Thomson EVP E-Mail: sagc@sagchile.cl Telephone: 56-2-264-2295 Website: www.sagc.com