SOUTH AMERICAN MINERALS, INC. (SAMM- TRADED OTC SAMM) is a Nevada corporation whose wholly owned subsidiary North American Resources, Ltd. (NARIL) is engaged in the exploration, development and production of gold from gold bearing alluvial gravel deposits located in the Republic of Guyana, South America. These deposits are located on a 25 square mile concession from the government on which NARIL has a sub-license currently running for a 7 year period.

The Company is authorized to issue 25 million shares of common stock par value $.10 per share of which a total of 21,017,709 shares are currently issued and outstanding.

The Company’s subsidiary operates a total of 4 hydraulic suction dredges in and around the Konawaruk River concession located in the Potaro Mining District #2. Two of these dredges are owned by the Company and two dredges are owned by a joint venture operated by the Company and in which the Company holds a 65% profit interest. The Company maintains a camp at the dredging site including sleeping quarters, a dining room, repair and welding facilities and associated requirements in the dredging operation. A small airplane landing strip exists for transportation as well as a road to Georgetown.

Combined gold production from the 4 dredges resulted in sales receipts of $3,478,998 in 2008; $3,679,013 in 2009; and $4,855,478 for the year 2010. The Company sells its gold production to the government of Guyana at the London spot price on the day of sale and pays a 5% royalty to the government. In addition, a royalty is paid to the concession holder from whom the Company holds the sub-license.

The Company has acquired several geology reports and records containing data derived from approximately 3,000 Banka drill holes placed in the past on a portion of the concession by several mining companies which indicate potential locations of gold bearing gravel deposits, some of which the Company has been mining. The Company is currently investigating raising additional capital to extend its current operations and constructing land based alluvial processing plants on parts of the concession. In addition, the Company will investigate the possible acquisition of gold bearing hard rock properties located in Guyana.

The Company also holds an interest in a group of uranium mining claims in the State of Utah which were recently leased to a nonaffiliated group which is evaluating the merits of conducting a drilling program on the claims. If the program proceeds favorably, the Company will receive a fee for assignment of the claims as well as a continuing production royalty of 1 ½% to 2 ½% of any sales of ore and an equity interest in the lessee/assignee company

Company’s officers and directors are:
Saul Horing, President and Director age 81, practicing Attorney at Law in the State of New York since 1955 and associated with mining operations in excess of 10 years.

Jack Paulsen, Vice President and Director age 75, engaged in mining operations in Alaska, Africa and South America for over 10 years.

Arthur Brown, MD, Director age 60, practicing Physician in the State of New York.

Dean Hassan is The President and director of NARIL age 49, who has been engaged in mining operations in Guyana for over 10 years.

NARIL employs an average of 100 individuals of whom approximately 20 are involved with general and administrative activities at its executive offices in Georgetown, Guyana and approximately 80 are employed in production activities at the Company’s field headquarters located in the Potaro Mining District #2.

The Company leases executive offices from an unaffiliated company at 11 Hanover Square, New York, New York 10005.

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.