Sur American Gold Corporation
TSX VENTURE : SUR

Sur American Gold Corporation

November 13, 2006 18:23 ET

Sur American Gold Corporation: Clarification on T'boli Gold-Silver Project as Per News Release Dated November 13, 2006

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 13, 2006) - Sur American Gold Corporation (TSX VENTURE:SUR) wishes to clarify certain statements it has made with respect to its T'Boli gold-silver project as disclosed in a news release date November 13, 2006.

T'BOLI GOLD SILVER DEPOSIT, PHILIPPINES

"An internal desktop study by the Company based on all geological and geophysical information believes that the potential resources within the 2800ha T'boli project area are between 2-5 million ozs of gold and 8-25 million ozs silver."

The Company wishes to stress that this statement, was based upon all the known information collected over a period of 10 years and includes geophysical, geochemical, underground geological mapping, surface mapping of outcropping alteration and mineralization and comparison to other classic epithermal quartz carbonate systems in the SW Pacific region, all of which exhibit strong vertical continuity.

However, because there has been insufficient exploration to define a mineral resource and it is uncertain whether exploration will result in the definition of a resource of this magnitude the estimate must be regarded as speculative at this time.

"Based on the geometry of the various vein sets, ground conditions, grade of the veins (up to 40 metres wide) the Company's engineering team believes that T'boli may support a medium-large scale underground operation that could be bought into production within 3 years."

The Company based this assumption on an internal study carried out by its own Philippine mining engineering staff and plans to conduct a full independent feasibility study upon receipt of further drillhole data. Therefore, until this study has been completed there are no assurances that the Company's projects will be realized.

This news release was prepared by Mr. Blair 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 is a well financed junior exploration Company 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
    J. 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