Andean American Gold Corp.
TSX VENTURE : AAG
FRANKFURT : AQN

Andean American Gold Corp.

July 03, 2008 12:17 ET

Andean Announces the Closing of 4,545,454 Units Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 3, 2008) - Andean American Mining Corp. (TSX VENTURE:AAG)(FRANKFURT:AQN)(BVL:AAG) -

The Board of Directors of Andean American Mining Corp. is pleased to announce that the Company has closed the 4,545,454 unit non-brokered private placement at a price of C$0.44 per unit as announced on June 27, 2008. Each unit consists of one common share in the Company and one half of a non-transferable share purchase warrant. One whole share purchase warrant will entitle the holder to acquire one common share of the Company for C$0.55 expiring two years after closing. All securities issued are subject to a mandatory four-month hold period expiring on November 03, 2008.

There were no finder's fees paid.

Proceeds from the Offering will be used to fund the development of the Invicta Project and for working capital and general corporate purposes.

On behalf of Andean American Mining Corp.,

John Huguet, Chairman & CEO

Andean American Mining Corp. (TSX VENTURE:AAG)(FRANKFURT:AQN)(BVL:AAG) is an international mining and exploration company focused on growth. The Company is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has two key assets: the 41,500 hectare Invicta gold-silver-copper advanced exploration stage project; 58% of Sinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead mineralization project.

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 www.sedar.com.

Sedar Profile #00003879

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

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