The northeastern tip of South America , cape SÃ # o Roque , was first seen by European navigators in 1501 . This was during a 1501-1502 Portuguese expedition led by Amerigo Vespucci . The northeastern tip of South America , Cape SÃ # o Roque , 20 m to the north of Natal , was first officially visited by European navigators in 1501 , in the 1501 â `` 1502 Portuguese expedition led by Amerigo Vespucci , who named the spot after the saint of the day .