Suramina Resources Inc.

Suramina Resources Inc.

December 05, 2007 11:37 ET

Suramina Announces Significant Increase in Josemaria Cu-Au Resource Estimate

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 5, 2007) - Suramina Resources Inc. ("Suramina") (TSX:SAX) is pleased to announce the completion of an updated, independent resource estimate on the Josemaria porphyry copper-gold deposit located in San Juan Province, Argentina. The updated inferred resource estimate, in accordance with NI 43-101, is 460Mt @ 0.39% Cu and 0.30g/t Au at a 0.3% TCu cut-off which represents a 20% increase in contained copper and an approximate 30% increase in contained gold. A review of the drilling conducted to date indicates that the deposit remains open to the northwest where some of the best drill intersections have been realized to date.

The updated independent resource estimate has been prepared for the Josemaria project by John Nilsson, P.Eng. of Nilsson Mine Services Ltd., and Mario Rossi, M.Sc. of Geosystems International, Inc. and forms part of a new NI 43-101 report to be released in December 2007. A copy of the resource estimate will be available on as well as the Company's website

Josemaria Inferred Resources

TCu Cutoff Million Tons TCu Grade Au Grade
(%) above TCu cutoff (%) (g/t)


0.2 1,125 0.31 0.22

0.3 460 0.39 0.30

0.4 131 0.51 0.38

0.5 52 0.60 0.43

0.6 20 0.70 0.45

0.7 7 0.80 0.47

0.8 3 0.89 0.48

The drill hole database used to estimate the updated resources at Josemaria consists of a total of 21,616.75 metres with 47 inclined reverse circulation (RC) surface drill holes plus 7 diamond drill holes (DDH). Compared to the previous resource model results, the number of samples has increased by approximately 50%. The Josemaria resource block model was defined as a single-size block model that encompasses the area of interest. The block size chosen was 25 x 25 x 15m, intended to reflect drill hole spacing available and generally accepted practices used to model large, Cu-Au porphyry deposits. Grades were estimated using ordinary kriging.

Suramina has an option to acquire a 100% ownership of Josemaria. Josemaria is one of several porphyry Cu-Au deposits identified within a large cluster of similar deposits that straddle the Argentine-Chile border and that are held by Suramina, including Filo del Sol, Los Helados, Cerro Blanco, and Sillimanita.

Suramina is continuing to advance its exploration program within its large, contiguous property position of 53,248 ha that straddles the border between Argentina and Chile, and has to date identified an additional 16 targets within a cluster of porphyry and epithermal mineralization that lies in close proximity to Josemaria. These targets remain at various stages of exploration and will provide Suramina with an excellent pipeline of projects in the coming seasons. In the 2007-08 exploration season, two of these porphyry Cu-Au targets, Filo del Sol and Los Helados, will undergo further drilling while a new target, Cerro Blanco, will undergo an initial first phase of drilling.

Suramina's exploration programs are carried out under the direction and management of J. Patricio Jones (PhD). Dr. Jones and his team discovered the worldclass Veladero gold deposit in Argentina and was responsible for the initial development of the Bajo de Alumbrera copper-gold project. The technical contents of this release have been reviewed and verified by Mr. Paul K. Conibear, P.Eng., Director of Suramina Resources Inc., who is an appropriately qualified person as defined by National Instrument 43-101. Mr. Mario Rossi, M.Sc. of Geosystems International, Inc. has been retained as the independent consultant responsible for the geologic modeling, geo-statistics, and calculation of the updated resource estimate for the Josemaria property. Samples are sent to ALS Chemex labs in Mendoza Argentina and Santiago, Chile, for analysis using conventional ICP methods with multi-acid digestion. A 50 gram fire assay with AA (atomic absorption) finish is run on all samples for gold. A series of blanks are routinely introduced with each batch of samples. Quality controls include preparation and analysis statistics performed to industry standards.

Forward-Looking Statements

Certain information regarding the Company set forth in this press release, including the Company's future plans contains forward looking statements that involve substantial known and unknown risks and uncertainties. These forward looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's and management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, imperfection of mineral estimates, environmental risks, industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. The Company's actual results, performance or achievements could differ materially from those expressed in or implied by, these forward looking statements and accordingly, no assurance can be given that any of the events anticipated to occur or transpire from the forward looking statements will provide any benefits to the Company.

On Behalf of the Board

J. Patricio Jones, President and CEO

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