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*** Gold related post (SUR.V, SURBF.PK) ***


Sur American Gold Corporation: Corporate and Exploration Update-Continued Excellent Metallurgical and Exploration Results From Comval

Monday November 1, 1:49 pm ET

VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 1, 2004--Sur American Gold Corporation (TSX VENTURE:SUR - News) is very pleased to provide an update on development and exploration progress at its Comval and T'Boli Gold projects, Philippines.

COMVAL GOLD PROJECT, COMPOSTELA VALLEY

* The Clark exploration crosscut at Batoto has now progressed 97 metres from the tunnel portal. The crosscut continues to encounter a wide higher grade zone now 37 metres wide and averaging 3.35 g/t gold. Overall the crosscut now averages 2 g/t gold with every 2-4 metre sampling interval well mineralized. The sampling results from the crosscut which is between 20-50 metres below the surface clearly support the strong possibility of bulk open cut mining at Batoto. This will continue to be the prime exploration focus for the Company.

* Gold mineralization from Batoto/Tarale continues to be transported to the JB Mining processing facility at Monkayo for bulk metallurgical test purposes. Gold recoveries from the mineralization which grades about 9g/t gold has been averaging 94% which the Company considers excellent.

* As previously reported the Company is now proceeding rapidly to establish a trial heap leaching operation at the JB Mining facility. The Company believes that positive results from this trial could result in future operations at Comval involving both CIP and heap leaching operations.

* Exploration continues at the recently discovered Santa Fe area which is believed to be a western extension of the Batoto project. The Company is awaiting the arrival of a recently purchased excavator in order to cut a 1000 metre long deeper trenche in order to sample fresher rock than that exposed on the surface. Limited sampling of the shallower trenches to date has obtained encouraging results including 4 metres grading 6.9 g/t gold. Of considerable interest is the discovery of disseminated copper mineralization along with gold bearing intensive quartz veining and alteration.

* Results from the gradient array induced polarization geophysical survey are currently being processed and a full report is expected in 2-3 weeks. The results are expected to be an important factor in deciding the location of the initial drill holes.

T'BOLI GOLD PROJECT, SOUTH COTABATO

* Rehabilitation of the principal access tunnel to the north and south vein sets has been completed. This major project will enable continuous transportation of production from the north vein set to the plant.

* Clearing of the portal area in preparation for the installation of necessary support services is making excellent progress.

* Negotiations are well advanced to procure a local CIP plant to enable the Company to process gold/silver mineralization from several areas of the T'Boli gold project on a trial testing basis, similar to Comval. Planned grades are expected to average 8-10 g/t gold and 30-38 g/t silver. Trial processing operations are expected to commence during the first week of January 2005.

* Exploration at T'Boli is currently focusing on evaluating western extensions to the north and south vein systems with a view to eventually evaluating the potential for open cut mining operations. An area 100-150 metres wide of gold mineralization averaging between 1-2 g/t gold has been located about 250 metres west of the main access tunnel. Much of this area is outside the area previously drilled and included in the T'Boli inferred resource estimate.

Assays are undertaken at the JBMM laboratory at Monkayo Compostela Valley Province using the 30 gram fire assay method with frequent check assaying undertaken at the IPL Laboratories in Vancouver, Canada, an ISO certified Laboratory. To date the Company has established excellent comparison between assays undertaken locally and those completed in Vancouver.

All sampling practices are approved by Mr Rennie Blair, Company President who is the qualified person as required by National Policy 43-101 and who is the technical person responsible for this news release.

Sur American Gold Corporation trades on the TSX Venture Exchange (Canada) with trading symbol SUR-V.

On behalf of the board of directors

J. Rennie Blair, President

http://biz.yahoo.com/bw/041101/15945_1.html