Suramina Resources Inc.
TSX : SAX

Suramina Resources Inc.

February 27, 2008 09:59 ET

Suramina Resources Inc.: Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 27, 2008) - Suramina Resources Inc. ("Suramina") (TSX:SAX) today announced its intention to sell on a non-brokered, private placement basis, an aggregate of up to 8,250,000 common shares of the Company at a price of Cdn $1.20 per share for gross proceeds of up to Cdn $9.9 million. Suramina will use the proceeds of the placement for general working capital purposes and to fund ongoing exploration work and drill programs on the Company's properties in Argentina and Chile. A finder's fee may be paid to qualified persons in respect of a portion of the private placement. The placement is subject to regulatory approvals.

ON BEHALF OF THE BOARD

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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