2013 News

South American Silver Intersects Secondary Copper Enrichment Mineralization at the Escalones Porphyry Copper-Gold Project in Chile

 

21 January, 2013 – Vancouver, British Columbia – South American Silver Corp. (TSX: SAC, US OTC: SOHAF)

Below is a figure illustrating the surface geology at the Escalones copper-gold project in Chile. These figures are referenced in the January 21st, 2013 press release.

Figure 1.1

About South American Silver Corp.

South American Silver Corp. is a growth focused mineral exploration company creating value through the exploration and development of the large scale Escalones copper-gold project in Chile, the pursuit of new opportunities, and the realization of value from the Malku Khota project in Bolivia. South American Silver Limited is a company incorporated in the Bermuda Islands, an overseas territory of the United Kingdom, which through its wholly owned Bahaman subsidiaries: Malku Khota Ltd, G.M. Campana Ltd. and Productora Ltd., owns one hundred per cent of the outstanding shares of Compañía Minera Malku Khota S.A., a Bolivian company, holder of the Malku-Khota mining concessions until their nationalization by the Bolivian Government. The Company's approach to business combines the team's track record of discovery and advancement of large projects, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry. The Company's shares are listed on the Toronto Stock Exchange under the symbol "SAC” and on the OTCQX as "SOHAF”. Information related to South American Silver Corp. is available at www.soamsilver.com and on SEDAR at http://www.sedar.com/.

South American Silver Corp. Contacts:

Robert Gill
Investor Relations
South American Silver Corp
604.681.6926
Toll Free: 1.855.681.6926
http://www.soamsilver.com/

Forward-looking Statements

Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "continue”, "could”, "will”, "expectation”, "expand”, "enhance”, "further”, "initiate”, "pursuit”,"creating”, "realization”and similar expressions. This release contains forward-looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. In addition ,information concerning mineral resource estimates and the interpretation of exploration programs and drill results may also be considered as a forward-looking statement as such information constitutes a prediction of what mineralization might be found to be present and economically mineable if and when a project is actually developed.

Readers are cautioned not to place undue reliance on these statements as the Company's actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that forward-looking statements will materialize. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, market conditions; the performance of the Common Shares or the Issuer; results of the Issuer's exploration and development programs on its material properties; risks of the mineral exploration industry which may affect the Issuer and risks of the mineral exploration industry which may affect the advancement of the Escalones project, in each case, including possible variations in mineral resources or grade, metal prices, timely receipt of required permits, availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated and changes in project parameters as plans continue to be refined; the political and economic climate in Bolivia including the attitudes and actions of the Bolivian government related to foreign investment in Bolivia; the pursuit by the Bolivian government of stated courses of action; the international arbitration process; and other risks more fully described in the Company's Annual Information Form filed and publicly available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current inferred resources and the interpretation of drill and other exploration results for Escalones; the timely receipt of required permits for Escalones; the availability of equipment and qualified personnel to advance the Escalones project and execution of the Company's existing plans and further exploration and development programs for Escalones, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs; the ability of the Company to realize value from its investments in Bolivia and that statements made by Bolivian government officials reflect the government's intentions. Subject to applicable laws, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this release describe the Company's expectations as of January 21, 2013.

Cautionary Note Regarding Reserve and Resource Estimates

The information in this press release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this press release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101”) and the Canadian Institute of Mining and Metallurgy Classification System. NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission ("SEC”), and resource and reserve information contained herein may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term "resource” does not equate to the term "reserves”. Investors should also understand that "inferred mineral resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "inferred mineral resource” will ever be upgraded to a higher category. The estimation of quantities of resources and reserves is complex, based on significant subjective assumptions and forward-looking information, including assumptions that arise from the evaluation of geological, geophysical, engineering and economic data for a given ore body. This data could change over time as a result of numerous factors, including new information gained from development activities, evolving production history and a reassessment of the viability of production under different economic conditions. Changes in data and/or assumptions could cause reserve estimates to substantially change from period to period. No assurance can be given that the indicated level of mineral will be produced. Actual production could differ from expected production and an adverse change in mineral prices could make a reserve uneconomic to mine. Variations could also occur in actual ore grades and recovery rates from estimates.