Andean American Gold Corp.

Andean American Gold Corp.

July 19, 2005 14:59 ET

Andean American Mining Corp.: Production Debenture Renewed to December 31 , 2005

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 19, 2005) - Andean American Mining Corp. (TSX VENTURE:AAG) is pleased to announce an agreement has been reached to extend the production debenture until December 31, 2005.

The terms of the Production Debenture are:

Amount : Up to $2,550,000 at extension date

Current Amount : $2,132,000 Cdn

Payment : Payable at anytime on or before December 31, 2005.

Debenture Terms : All terms of the Production Debenture maturing
April 24, 2005 remain intact , plus the following
new conditions: The Debenture carries a convertible
feature such that each 80 cents of debenture debt
may be converted into one common share of Andean
American at the sole discretion of the debenture

Security : As per the existing debenture, behind financing
of mine development.

Warrants : No new warrants are created.

Conditions : Subject to execution of letter agreement. Exchange
had pre approved the only change in convertibility.

This agreement formalizes what has been a protracted but friendly negotiation process.

Andean American wishes to thank the debenture holders for their continued support of the Company.

Annual General Meeting

The company has moved the annual meeting date to Monday August 22, 2005 to accommodate directors availability.

Andean American, producing, profitable, expanding and exploring.

On behalf of Andean American Mining Corp.,

John Huguet, President & CEO

This news release may contain forward-looking statements regarding upcoming work programs and events. Actual results may differ materially from those anticipated in such statements.
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
    (604) 681-6186 or Toll Free: 1-888-356-4784
    Andean American Mining Corp.
    Hai Van Le
    (604) 681-6186 or Toll Free: 1-888-356-4784