SOURCE: Andes Gold Corp.

January 11, 2010 16:36 ET

Andes Gold Ahead of Schedule to Close Acquisition of Roman Mine

NEW YORK, NY--(Marketwire - January 11, 2010) - Andes Gold Corporation. (PINKSHEETS: AGCZ) announced today that it has reached a new milestone in the acquisition of the "Roman Mine," a neighboring property.

The company is pleased to announce that the negotiations for the strategic acquisition of the "Roman Mine" are ahead of schedule in reaching this milestone; discussions started in July of 2009. The property has huge advantages to the company as it has an additional access road, site for an expanded work camp and will add a new access tunnel making three tunnels in total. The company expects to conclude this acquisition on or before February. With today's announcement the company acknowledges that it is ahead of schedule with its due diligence milestones including feasibility study and long range production goal studies to be completed as part of the due diligence process.

"The acquisition of the Roman Mine will add two new virgin gold veins of ore production," previously stated Alex Diaz, President of Andes Gold. In addition, "The company expects to reach production goals of 40 tonnes of ore produced daily, within four months of signing the final agreement," Mr. Diaz further stated.

Andes Gold Corporation is a gold producing and exploration company with operations in Ecuador, (South America). In the post market melt-down of 2008 the world took shelter in the security of gold pushing the value to over $1,100 USD per ounce by January 2010. Producing gold properties such as Andes Gold will continue to enjoy increased prosperity which can only improve if the price continues to climb.

About Andes Gold Corporation:

Andes Gold Corporation is a United States of America registered public company currently operating a gold mining and exploration corporation, through its wholly owned subsidiary company Compania Minera PLS.A. In Ecuador, (South America) which controls a Gold mining and exploration concession called the Miranda Alto. For more information please visit: www.andesgold-ir.com

Important Information:

About Forward-Looking Statements: Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above. In addition, such statements could be affected by risks and uncertainties related to the exploration for and development of mineralized material, product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on the Company's website does not constitute a part of this release.

Contact Information