Sur American Gold Corporation
TSX VENTURE : SUR

Sur American Gold Corporation

November 28, 2006 18:51 ET

Sur American Gold Corporation: $CAN 1,155,000 Financing Arranged

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 28, 2006) - Sur American Gold Corporation (TSX VENTURE:SUR) is very pleased to advise that, subject to regulatory approval, the Company has arranged a non-brokered private placement of $1,155,000 consisting of 3,300,000 units at a price of $0.35 per unit. Each unit consists of one common share and one share purchase warrant. The warrant entitles the holder to purchase an additional common share at a price of $0.50 during the first 12 months and for $0.65 during the second 12 months.

The proceeds of the private placement will be used to accelerate the drilling program at its Tagpura and Batoto copper-gold projects, Compostela Valley, Philippines, to further the development of the T'boli gold-silver project through to advanced exploration and development, and for general working capital.

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,

J. Rennie Blair, President


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

Contact Information

  • Sur American Gold Corporation
    Rennie Blair
    President
    (604) 904-8956
    (604) 904-8957 (FAX)
    Email: suramerican@telus.net
    Website: www.surgold.com
    or
    Paradox Public Relations
    Eric Leboeuf
    Toll Free: 1-866-460-0408 (in Canada) or (514) 341-0408
    or
    Paradox Public Relations
    Carl Desjardins
    Toll Free: 1-866-460-0408 (in Canada) or (514) 341-0408
    Email: infoparadox@qc.aira.com