RICHMOND, INDIANA — (Marketwire) — 08/04/11 — South American Gold Corp. (OTCBB: SAGD) is pleased to provide an update on its activities in Colombia, South America in a location referred to as the Santacruz gold project.We believe that the Narino province of Colombia represents an historic gold mining district that has been underexplored by modern exploration techniques. The Company is currently in the process of evaluating the area for potential acquisitions in addition to field work in the