South American Minerals, Inc. Acquires Uranium Leases in San Juan County, Utah

NEW YORK, Nov. 14  /PRNewswire-FirstCall/ -- SOUTH AMERICAN MINERALS, INC. (OTC PINK SHEETS: SAMM) announced today that it had exercised 3 separate options to acquire 10 year leases covering a total of 19,269 acres of metaliferous minerals mining claims located in San Juan County, Utah and an additional 34 unpatented mining claims (consisting of 680 acres) also located in San Juan County, Utah.

Although there are no proven reserves on the subject properties, preliminary data regarding the properties indicate that uranium bearing carbonized material was present in samples taken in the past during limited drilling activities.

The company is planning to arrange additional exploratory drilling which is expected to commence as early as possible.

Subject to the completion of its initial drilling program, the company will evaluate the results to determine economic feasibility of further exploration and development of the properties.

The company, through its wholly owned subsidiary, North American Resources Inc. LTD, will continue with its gold dredging and dry land sluicing operation in the Republic of Guyana, South America.

Additional data will be provided as warranted.

* Except for the historical information herein, certain matters discussed in this release include forward looking statements that may involve a number of risks and uncertainties, which projections and statements are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995.  Actual risks may vary significantly based on a number of factors, including but not limited to: risks in production relating to weather and the prices of fuel and gold on the world market.

http://www.southamericanminerals.com/ 

DATASOURCE: South American Minerals, Inc.



CONTACT:  Saul Horing, President, [phone], Fax: [phone]



Web site:  http://www.southamericanminerals.com/ 

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