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     654  0 Kommentare South American Silver Corp. Enters into an Agreement to Acquire High Desert Gold Corporation

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 21, 2013) -

    NOT FOR DISTRIBUTON TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

    South American Silver Corp. (TSX:SAC)(OTCQX:SOHAF) is pleased to announce that it has entered into an arrangement agreement (the "Agreement") pursuant to which South American Silver Corp. ("SASC") will acquire all of the issued and outstanding shares of High Desert Gold Corporation ("HDGC") that it does not already own in an all-share transaction by way of a plan of arrangement (the "Arrangement"). HDGC shareholders (other than SASC) will receive 0.275 of a SASC Class A Share for each HDGC share they hold. SASC currently owns 16,077,000 common shares of HDGC (18.5% on an undiluted basis). Upon completion of the Arrangement, SASC shareholders and HDGC shareholders will own approximately 85.6% and 14.4%, respectively, of the Class A Shares of the post-Arrangement entity.

    As part of the Arrangement, immediately prior to the acquisition of HDGC, SASC will spin out to its shareholders, Class B Shares which entitle the holders collectively to 85% of the net cash proceeds received from any award or settlement in connection with the ongoing dispute with Bolivia related to its expropriation of the Malku Khota Project.

    Completion of the Arrangement is subject to a number of conditions, including the receipt of the requisite approval of the shareholders of HDGC and the shareholders of SASC, the approval of the Supreme Court of British Columbia and stock exchange approval. See "Details of the Arrangement" below.

    As part of the acquisition of HDGC, SASC will obtain a 100% direct interest in HDGC's Gold Springs project, located along the Nevada/Utah border. Gold Springs is a new development gold-silver district, with a total land package of 74km2 which HDGC has been exploring. An initial Inferred resource has been announced at Gold Springs (See HDGC PR13-07, March 28, 2013) and additional drilling in 2013 has expanded the mineralized zones beyond the footprint of the reported resource. The Inferred resource, which is based on only two of eighteen identified targets at Gold Springs, is summarized in the table below:

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    South American Silver Corp. Enters into an Agreement to Acquire High Desert Gold Corporation VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 21, 2013) - NOT FOR DISTRIBUTON TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES South American Silver Corp. (TSX:SAC)(OTCQX:SOHAF) is pleased to announce that it has …