South American Gold and Copper Company Limited Announces Engagement of Watts,
Griffis and McOuat Limited to Conduct a NI 43-101, Reserve and Resource
Evaluation of the Company

/NOT TO BE DISTRIBUTED OR DISSEMINATED IN THE UNITED STATES/

TORONTO, Oct. 18 /CNW/ - South American Gold and Copper Company Limited (the "Company" or "SAGC") (TSX-SAG) reported that it has engaged Watts, Griffis and McOuat Limited, a well respected mining engineering consulting firm based in Toronto, Canada (WGM), to conduct a NI 43-101 reserve and resource evaluation of the Company's Pimenton porphyry deposit which was drilled by the Company and later by Rio Tinto which reported an estimated 400,000,000 tons of copper and gold resource grading 0.40% copper and 0.43 grams of gold per ton (See SAGC Website www.sagc.com - Reports - Technical Reports - Rio Tinto Executive Summary). The Rio Tinto diamond drill program was followed by a further diamond drill program by Anglo American.

In addition WGM will conduct a study of the gold reserves and resources at the Pimenton mine which has been in commercial production since October 1, 2009. WGM will also conduct a review of the Company's Tordillo gold/copper prospect as well as the Company's Catedral/Rino limestone deposits on which the Company has conducted preliminary feasibility studies.

This is the first time the Company will have completed a NI 43-101 reserve and resources report on its entire portfolio of mineral properties. It is expected that the results of the WGM study will be completed in late December of 2010.

South American Gold and Copper Company Limited is a minerals producing, exploration and development company with properties and activities currently focused in Chile.

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements.  Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

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