Stephen W. Houghton

STEPHEN W. HOUGHTON is President and Chief Executive Officer of South
American Gold and Copper Company Limited. He founded the company along
with John C. Duncan in 1990 in association with David Thomson and Mario
Hernandez. He is a graduate of Wharton School of Finance and Commerce of
the University of Pennsylvania. He has been an initial investor in
several successful companies including Cotton Petroleum Corporation,
Henderson Petroleum Corporation, Geodyne Resources and an investor in
Siskon Mining Company (acquired by Hanna Mining Company). He was
President and CEO of Hadson Corporation from 1983 to 1989, where he led
the company into a period of growth and diversification from $14 million
in revenues to over $700 million during the five year period. He started
his career with Morgan Guaranty Trust Company of New York; subsequently
he was co-Director, Corporate Finance, at G. H. Walker & Company and
First Vice President of White Weld & Company’s Natural Resources Group.
He is a past Trustee of Eaglebrook School in Deerfield, Massachusetts.