SOURCE: South American Gold Corp.

February 17, 2011 09:07 ET

South American Gold Appoints Two Directors and Establishes Advisory Board

RICHMOND, IN--(Marketwire - February 17, 2011) - South American Gold Corp. (OTCBB: SAGD) is pleased to announce it has appointed Quinn Bastian and Beatriz Duque Montoya as Directors and has established an Advisory Board.

Mr. Bastian served from 2005 to 2007 as Vice President of Finance for International Minerals Corporation, a Canadian mineral resource company. From 2000 Mr. Bastian has operated his own consulting practice, Quinn Bastian Associates, as well as serving as an officer and director of a privately-held mining company. As a consultant, Mr. Bastian provides services in the general areas of accounting, business plans, financing, mergers and acquisitions and reengineering. Mr. Bastian, who began his career in public accounting with the firm that became KPMG, has over 40 years experience in finance, accounting and senior management.

Ms. Duque is a civil engineer who worked in the Colombia Ministry of Mines and Energy from April 2004 until November 2010 in a number of capacities including Director of Mines, Deputy Minister of Mines and Energy and Advisor to the Office of the Minister of Mines and Energy. Ms. Duque has a Civil Engineering degree from the University of Medellin and has completed postgraduate finance studies at Eafit University. Ms. Duque has served as a board member to a number of South American energy and engineering companies including Empresa de Energia de Cundinamarca, Central Hidroelectrica de Caldas, Centrales Electricas del Norte de Santander, Electrificadora del Huila and Electrificadora del Quindio. Ms. Duque, during her tenure as Director of Mines, was instrumental in the development of policy and decrees related to mine health and safety.

South American Gold has also established an Advisory Board appointing Juan Carlos Benjumea as its initial member. Mr. Benjumea is an attorney based in Medellin, with an international commercial practice assisting foreign companies developing and expanding operations in Colombia.

Raymond De Motte, CEO of South American Gold, stated: "We are very pleased to have Quinn, Beatriz, and Juan join our team. We feel confident that the talent we have assembled will guide the company well in acquiring and advancing significant gold projects. Our team has both the experience and local business contacts to guide us in identifying projects that meet our criteria, acquiring such projects and advancing them. Ms. Duque's experience as Director of Mines in the Ministry of Mines and Energy will prove invaluable in the future development of significant and sustainable mining activities by South American Gold."

About South American Gold (OTCBB: SAGD)

The Company's objective is to locate, explore and develop large-scale commercially viable gold deposits primarily in Latin America. The Company focuses principally on geographic areas that are home to established gold deposits, including highly prospective districts with the potential to hold large deposits.

On behalf of the board,


Raymond De Motte

CEO, South American Gold Corp.


Disclaimer

This release contains forward-looking statements that are based on beliefs of South American Gold Corp. management and reflect South American Gold Corp.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words , or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of South American Gold Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance , or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, South American Gold Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. This press release incorporates by reference the Company's filings with the SEC including 10k, 10Q, 8K reports and other filings. Investors are encouraged to review all filings.

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: South American Gold Corp. via Thomson Reuters ONE

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