Mr. Douglas Meirelles reports

SOUTH ATLANTIC GOLD ANNOUNCES TERMINATION OF AMALGAMATION AGREEMENT

South Atlantic Gold Inc. shareholders did not approve its previously announced amalgamation with Valore Metals Corp. at the company's shareholder meeting held earlier today. Following the meeting, Valore and the company mutually agreed to terminate the amalgamation agreement and consequently the amalgamation will not proceed.

South Atlantic will continue to evaluate and review alternative opportunities to enhance shareholder value.

About South Atlantic Gold Inc.

South Atlantic is an exploration company engaged in acquiring and advancing mineral properties in the Americas.

We seek Safe Harbor.