South American Minerals, Inc. Reports Gold Sales for 2003 NEW YORK and GEORGETOWN, Guyana, South Africa, March 2 /PRNewswire-FirstCall/ -- South American Minerals, Inc. (OTC Pink Sheets: SAMM) announced today that preliminary data indicates that total gold production for the year 2003 was 2,961 ounces of gold which were sold for $968,248. This compared with production of 2,883 ounces of gold sold for the year 2002 which were sold for $796,638. This production resulted from operation in the Konawaruk River of Guyana, of one dredge wholly owned by the Company and an additional two dredges owned by a joint venture in which the Company owns a 65% interest. A second dredge wholly owned by the Company has been reconditioned and is now commencing operations. With continued operation of these four dredges and the favorable current price of gold, the Company looks forward to increased production and sales income in 2004. The Company is in the process of preparing its financial statements for the year ended December 31, 2003 and expects to provide them to the Shareholders and the public as soon as they are available. We will continue to provide you with material information as soon as it becomes available. * Except for the historical informationherein, 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. DATASOURCE: South American Minerals, Inc. CONTACT: South American Minerals, Inc., +1-212-344-2785, Fax - +1-212-344-4537 Web site: http://www.southamericanminerals.com/

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