Andean American Gold Corp.

Andean American Gold Corp.

December 11, 2007 09:03 ET

Andean American Mining Corp.: Underground Sampling of 3400 Level Crosscut Intersects Significant Gold at the Invicta Project, Peru

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 11, 2007) -

Andean American Mining Corp. (TSX VENTURE:AAG)(FRANKFURT:AQN) is pleased to report initial results from underground sampling of the 3400 Level crosscut on the Atenea Vein, at the Invicta Property in Peru.

The 3400 Level adit is being driven parallel to, and in the hanging wall of, the Atenea Vein structure to provide access to drill test the Atenea Vein at depth below 3,400 metres elevation. The anticipated total length of the 3400 Level adit is 600 metres. The adit has presently been advanced to 215 metres length, and a crosscut of approximately 200 metres has been driven off to the north from the 200 metre point. The Atenea Vein structure was intersected at approximately 150 metres in the crosscut, with apparent widths of 18m and 15.5m exposed in the west and east walls respectively. True widths are estimated to be approximately 85% of the apparent widths. In both walls, there are zones of higher grade mineralization adjacent to the north and south contacts.

Panel sampling returned the following values:

West Wall East Wall

18.0m (full width) 15.55m (full width)
3.47 g/t Au 2.16 g/t Au
36.9 g/t Ag 42.9 g/t Ag
0.80 % Cu 0.92 % Cu
0.93 % Pb 1.15 % Pb
0.82 % Zn 0.81 % Zn

Including (south side) Including (south side)
7.0m 6.0m
5.74 g/t Au 4.14 g/t Au
48.5 g/t Ag 46.6 g/t Ag
1.33% Cu 1.12% Cu
1.93% Pb 2.68% Pb
1.66% Zn 1.58% Zn

and and

4.0m (north side) 2.6m (north side)
3.86 g/t Au 2.33 g/t Au
67.5 g/t Ag 117.5 g/t Ag
0.87% Cu 1.53% Cu
0.52% Pb 0.43 Pb
0.35% Zn 0.25% Zn

A tunnel of approximately 80 metres length has been driven along the Atenea Vein to the east, and short crosscuts of approximately 15m to 20m length have been made at 20 metre intervals. These crosscuts are being mapped and sampled. Mineralization is continuous over the 80m of strike length and remains open in both directions.

The Atenea Vein mineralization consists of a quartz-cemented hydrothermal breccia with variable amounts of pyrite, chalcopyrite, galena, sphalerite and traces of bornite in the quartz. The sulphides are generally coarse grained and vary from disseminated to massive. Breccia fragments are chiefly altered andesite. Both the footwall and hanging wall contacts are sharp and defined by a zone of fault gouge. The bounding faults dip to the south at between 60 and 70 degrees.

The 3400 Level adit intersected massive andesite, cut by quartz veinlets ranging in width for 1cm to 40cm. The crosscut intersected the same massive andesite and medium grained diorite, with weak chlorite and epidote alteration and traces of disseminated pyrite. In the crosscut both rocktypes are cut by nine quartz veins ranging in width from 2cm to 1.5m, which trend subparallel to the Atenea Vein Structure. Assays for these veins ranged from background to peak values of 14.98 g/t Au, 136.0 g/t Ag, 3.39% Cu, 9.64% Pb and 24.77% Zn, generally over narrow widths. The connection, if any, of these hanging wall veins with the main Atanea Vein has yet to be determined.

The Atenea Vein has been traced for over 350 metres on surface and to a depth of approximately 350 metres, and remains open along strike and to depth.

The recently completed drill program, in conjunction with the underground sampling and drilling, is designed to upgrade the current resource estimates of 4,739,500 tonnes grading 2.73 g/t Au, 18.3 g/t Ag and 0.45% Cu in the measured and indicated categories, with an additional 6,088,700 tonnes grading 1.44 g/t Au, 15.7 g/t Ag and 0.53% Cu in the inferred category. Resource estimates are from the NI 43-101 Invicta Technical Report filed on SEDAR and dated July 24, 2007.

The Atenea Vein is the most advanced target of eight identified in the Invicta Property, which covers 22,200 hectares. The Company is very pleased with the initial results of the underground exploration program and additional results will be released as they are received.

Mr. Andrew Gourlay, P. Geol., President of Andean American Mining Corp. is a Qualified Person as defined in the Canadian Securities Administrators National Instrument 43-101 with the ability and authority to verify the authenticity and validity of technical and scientific data. This news release has been prepared under Mr. Gourlay's supervision. All samples were prepared and analyzed by CIMM Labs in Lima, Peru, an ISO-accedited laboratory. Standard reference materials, blanks and field duplicates were inserted prior to shipment from site to monitor the quality control of the analytical data.

On behalf of Andean American Mining Corp.,

John Huguet, Chairman & CEO

Andean American Mining Corp. (TSX VENTURE:AAG)(FRANKFURT:AQN) is an international mining and exploration company focused on growth both organically and through acquisitions. The Company is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has three key assets: the 22,400 hectare Invicta gold-silver-copper advanced exploration stage project; 67% of Sinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead mineralization project; and the 9,000 hectare Santa Rosa property, which is a small producing open-pit mine.

This news release may contain forward-looking information within the meaning of the Securities Act (Ontario) ("forward-looking statements"). Such forward-looking statements may include the Company's plans for its mineral projects, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company's operations in a foreign jurisdiction, uncertainty of production and costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of gold and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Financial Statements, Management Discussion and Analysis and Material Change Reports filed with the Canadian Securities Administrators and available at

SEDAR Profile # 00003879

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Andean American Mining Corp.
    John Huguet
    Chairman & CEO
    (604) 681-6186 or Toll Free: 1-888-356-4784