Sur American Gold Corporation

Sur American Gold Corporation

April 20, 2007 15:34 ET

Sur American Gold Corporation: Appointment of CFO and Corporate Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 20, 2007) - SUR AMERICAN GOLD CORPORATION (TSX VENTURE:SUR) is pleased to announced today the appointment of Mr. Derick Sinclair, CA, to the position of Chief Financial Officer.

Mr. Sinclair replaces Alicia Nicholson, whose resignation as Chief Financial Officer, Secretary and a Director of the Company has been accepted by the Company. The Company wishes to thank Ms. Nicholson for her services on behalf of the Company. The Company further advises that Mr. J. Rennie Blair has no official capacity with the Company.

Mr. Sinclair is a Chartered Accountant with more than 25 years' experience in accounting and financial management. He is in private practice and as a consultant has been involved in the Company for more than 12 months.

President and CEO Mr. Brett Taylor stated that Mr. Sinclair as Chief Financial Officer will enhance the Company's financial management and administrative systems.

"The Board is pleased that Mr. Sinclair has joined the company as its Chief Financial Officer."

Mr. Taylor said that implementing the new corporate direction has taken more time than originally envisaged. However, the process must be undertaken for the Company to move forward and to see value from its potentially "regionally significant" deposits in the Philippines, including its Tagpura-Kalamatan Copper Gold Porphyry.

New Head Office Location

Sur has progressively relocated to its new headquarters in Vancouver, BC. Combined with new administration, this downtown Vancouver address offers shareholders and investors improved services and access to the company and its management. Details are:


#916 - 925 West Georgia Street

Vancouver, BC V6C 3L2 Canada

Tel: 604-687-0760

Fax: 604-687-0710



"Shareholders and investors are able to contact the new management team directly and we look forward to being of assistance," said Mr Taylor.

Philippines - Update

Mr Taylor advises that Atty Melanio T. Andresan has passed away suddenly on April 6, 2007. Atty Andresan was President of Company affiliates, Batoto Resources Corporation and TMC Tribal Mining Corporation. He was a key member of the Philippine management team and his legal counsel and cultural wisdom has laid the foundation for the ongoing success of the Company. The Company and its staff extend their deepest sympathy to the family.

Tagpura-Kalamatan Copper Gold Porphyry Update

The Company's News Release dated April 2, 2007 titled "CONTINUING IMPRESSIVE RESULTS AT TAGPURA-KALAMATAN COPPER GOLD PORPHYRY SYSTEM" provided an update on exploration results and progress. For complete details see

It highlighted:

Tagpura TGD-4 drill hole, returned 454.9 meters grading 0.22% copper and 0.06g/t gold from the surface to the bottom of the hole and within that broad intersection, two higher grade zones were encountered:

- 95 metres (94m to 189m) at 0.48% copper and 0.12 g/t gold

- 33.2 metres (423m to 456.2m) at 0.31% copper and 0.08 g/t gold

Sur's exploration focus continues on the potentially "regionally significant" Copper Gold Porphyry Systems at Tagpura-Kalamatan. Exploration Manager is Mr. Ian S. Cooper, B.Sc., A.R.S.M, F.G.S, M.Aus.I.M.M, a qualified person as required by National Instrument 43-101, and directs the exploration program.

Drilling Strategy Revision - 80% Completed

The revised drilling strategy and costs for its major Comval Porphyry Copper Gold Projects is 80% completed. Updated Rig costs and material costs are currently being finalised.

T'Boli Gold Silver Project

T'Boli Gold Silver project has JORC / CIM defined inferred mineral resource of 420,000 ounces of gold and 1,600,000 ounces of silver within its approved Mineral Production Sharing Agreement ("MPSA") 090-97-XI covering some 84.9820 hectares which was granted November 1997. It has another 2,700 hectares of surrounding area covered by MPSA Application APSA -51- XI. Please note that the Company's news release of March 22, 2007 incorrectly referred to these inferred mineral resources simply as "mineral resources".

All regulatory documentation has been completed and submitted to renew the exploration period for a further two years to enable completion of the Exploration Portal and bulk testing of previously identified vein systems.

T'Boli Gold Silver Project is an epithermal vein and stockwork system carrying gold and silver and projected to be of the "carbonate base metal hot spring style" as defined by Leach and Corbett. In carbonate base metal hot spring style systems, gold is associated with base metal introduction and is silver rich, and these systems are regarded as developing at intermediate levels between porphyry and shallow epithermal systems. Carbonate base metal hot spring style systems are known throughout the SW Pacific.

This class of mineralisation includes: Acupan, Porgera, Wau, Kelian, Mt. Kare and Gold Ridge, all of which are multimillion ounce gold deposits.


The Board Level Strategic Review of the Company's assets in Colombia held through its 100% owned subsidiary Exploradora la Esperanza SA is being conducted by the Company's Colombian representative, Mr Pedro Antonio Marin Rivera, an experienced geologist with substantial knowledge of Colombian Mining Law, Rules and Regulations. He is assisted by an independent Attorney and Accountant in Colombia.

This Review, subject to documentation from Government Agencies, is expected to be completed in the near future and will enable the Board to determine the future direction of its Colombian asset portfolio.

New Direction

Mr. Brett Taylor stated that these changes will continue to position the Company as a leading exploration company focused on the discovery of "regionally significant" copper gold porphyry systems. There can be no assurance, however, that the Company will be successful in making a "regionally significant" discovery.

Technical aspects of this news release was prepared by Mr. Ian S. Cooper, Exploration Manager, who is the qualified person as required by National Policy 43-101, and who is the technical person responsible for this news release.

Ian S Cooper has over twenty five years' professional experience as a geologist in mineral exploration and development. He has worked on gold, base metal and diamond projects throughout Australia in addition to his overseas experience in Sierra Leone, West Africa and the Philippines, Asia. Other overseas experience includes study visits to the USA, South Africa, New Zealand, Europe, the UK and Ireland. He graduated from the Royal School of Mines, London University, U.K. with B.Sc. (Hons) and A.R.S.M. (Associate Royal School of Mines) degrees from that institution. Previously he was the Senior Geologist for Sons of Gwalia NL in Eastern Australia and also a geologist with the BP Minerals / Seltrust Mining Group. Mr. Cooper is a Director and Senior Geologist of Cooper Geological Services Pty Ltd, which provides specialist geological, evaluation and management services to Sur American Gold Corporation. He is a corporate member of the Australasian Institute of Mining and Metallurgy a Professional Association as defined in National Instrument 43-101.

Sur American Gold Corporation is a junior exploration Company with operations in the Philippines and Colombia and trades on the TSX Venture Exchange (Canada) with trading symbol SUR-V.

On behalf of the Board of Directors,

Brett Taylor, President & CEO

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

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