Samco Gold Releases Its Financial Statements and Management's Discussion & Analysis for the Three Months Ended March 31, 2013

TORONTO, ONTARIO--(Marketwired - May 23, 2013) - Samco Gold Limited (TSX VENTURE:SGA) ("Samco Gold" or the "Company") today released its Financial Statements and Management's Discussion & Analysis ("MD&A") for the three months ended March 31, 2013. These Financial Statements and MD&A are available at the Company's website and at its profile on the SEDAR website at www.sedar.com.

About Samco Gold Limited

Samco Gold's principal business is the acquisition, exploration and development of precious metals resource properties in South America. The Company's principal mineral property is the El Dorado Monserrat epithermal gold project, located in the Deseado Massif region of Santa Cruz Province, Argentina. Samco Gold's goal is to become a producer of gold through the exploration and development of the Company's portfolio of mineral exploration properties in the Deseado Massif.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements which can be identified by the use of words "anticipated", "goal", and phrases or statements that certain actions, events or results "may", "would", or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the results of due diligence activities, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold and other metals; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in Samco Gold's Annual Information Form dated November 1, 2012 filed and publicly available under the Company's profile on the SEDAR website at www.sedar.com. Although Samco Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws.