Suramina Resources Inc.

Suramina Resources Inc.

July 11, 2008 13:01 ET

Suramina Concludes Joint Exploration Agreement With Japan Oil, Gas and Metals National Corporation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2008) - Suramina Resources Inc. ("Suramina") (TSX:SAX) is pleased to announce that it has entered into a definitive joint exploration agreement with Japan Oil, Gas and Metals National Corporation ("JOGMEC") pursuant to which Suramina and JOGMEC (or its nominee) will form a joint venture company to further their joint exploration activities in respect of the Vicuna Project properties or for the development of any ore bodies identified, including commercial mining operations. Suramina will have an initial 60% interest in the joint venture and will fund its pro rata share of all expenditures. The Vicuna Project properties include the Filo Del Sol copper/gold project in San Juan Province, Argentina.

JOGMEC is a Japanese national oil, gas and metals corporation which, among other major initiatives, provides support for exploration and development of mineral resources ranging from the generation of mineral exploration projects to financing of exploration development projects. JOGMEC has been actively involved in mineral projects in over 55 countries worldwide since 1970, including programs for accelerating mineral production and resultant economic growth in developing countries and contributing to the stable supply of mineral resources.


J. Patricio Jones, President and CEO

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.

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