Andean Resources Ltd.
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Andean Resources Ltd.

February 23, 2009 07:00 ET

Andean Completes More Deep Drilling at Cerro Negro

FREMANTLE, WESTERN AUSTRALIA--(Marketwire - Feb. 23, 2009) - Andean Resources (TSX:AND)(ASX:AND) reports the next set of results from its ongoing 2008/09 drill program at its 100% owned Cerro Negro project in Southern Argentina. Today's results include the following highlights:

- EDD-915, the deepest intersection at Eureka West to-date, drilled beneath EDD-901 intersected 26m of 24.5 g/t Au and 125 g/t Ag

- ERC-903 intersected 10m of 8.0 g/t Au and 91 g/t Ag

- Deep step-out drilling continues at Eureka West

Reported widths are intersected widths, and true widths are less in every case (see Table 1 for detailed drill data). Andean has assumed an underground cut-off grade of 2.5 g/t gold at Eureka for all the interval summaries reported in this release.

Eureka West Veins - Deep Step-out Hole

EDD-915 is the deepest intersection drilled on the property to-date, intersecting the Eureka West veins at the 265masl (meters above sea level) elevation, and 70m down-dip from EDD-901 (32m of 34.5 g/t Au and 214 g/t Ag). The location of this drill hole relative to previous drill holes is reflected on the Eureka West vein longitudinal section, the existing block model, and the cross-section included with this release.

EDD-915: 26m of 24.5 g/t Au and 125 g/t Ag from 408m

Including: 10m of 55.0 g/t Au and 263 g/t Ag from 411m

Based on Figure 3, this drill-hole is more than 75m beneath the existing April 2008 resource. At this intersection, the true width of the vein is estimated to be about 15m.

Eureka West Veins - Infill holes

ERC-903: 2m of 30.7 g/t Au and 121g/t Ag from 308m

And: 10m of 8.0 g/t Au and 91 g/t Ag from 345m

EDD-906: 29.5m of 21.2 g/t Au and 625 g/t Ag from 197.5m

And: 4.9m of 14.4 g/t Au and 156 g/t Ag from 233m

ERC-911: 7.75m of 6.4 g/t Au and 99 g/t Ag from 39.25m

And: 3.3m of 2.7 g/t Au and 117 g/t Ag from 52.7

ERC-903 was intended to be a deep step-out hole, but ended up, due to deviation, being an infill hole confirming the block model. EDD-904 drilled 50m further to the west intersected a mineralized breccia zone with values less than 2.5 g/t Au. EDD-906 was an infill hole drilled into a gap in the resource model and for metallurgical testwork purposes for the ongoing Feasibility Study.

Next Steps

Andean's 2008/09 exploration programs continue to progress ahead of schedule. Three drills are on the property exploring the Eureka West veins to depth, extending the 721 vein, and drill-testing areas for the Bankable Feasibility Study. Another deep hole has been drilled beneath ERC-903, on section 100E, intersecting quartz vein in the Eureka West veins beneath the 300masl elevation.



Table 1: Drill Hole Data

Eureka West Vein Intersections (at a 2.5 g/t Au cut-off grade)

-------------------------------------------------------------
-------------------------------------------------------------
Azimuth
Hole Easting Northing Elevation (true)
-------------------------------------------------------------
ERC-903 2393974 4808174 654 45
-------------------------------------------------------------
EDD-904 2393919 4808199 659 45
-------------------------------------------------------------
EDD-906 2394045 4808218 652 45
-------------------------------------------------------------
EDD-911 2394213 4898180 635 45
-------------------------------------------------------------
EDD-915 2394008 4808145 663 45
-------------------------------------------------------------
-------------------------------------------------------------


-----------------------------------------------------------------------
-----------------------------------------------------------------------
Hole Angle From To (m) Width g/t Au g/t Ag
(m) (m)
-----------------------------------------------------------------------
ERC-903 -61 308 310 2 30.7 121
-------------------------------------------------
345 355 10 8 91
-------------------------------------------------
363 365 2 5.7 21
-----------------------------------------------------------------------
EDD-904 -68 No significant values
-----------------------------------------------------------------------
EDD-906 -66 197.5 227 29.5 21.2 625
-----------------------------------------------------------
234 238.9 4.9 14.4 156
-----------------------------------------------------------
246 248 2 6.5 76
-----------------------------------------------------------
253 259 6 3.9 79
-----------------------------------------------------------------------
EDD-911 -60 39.25 47.4 7.75 6.4 99
-------------------------------------------------
52.7 56 3.3 2.7 117
-------------------------------------------------
EDD-915 -70 399 401 2 9.3 50
-------------------------------------------------
408 434.2 26.2 24.5 125
-----------------------------------------------------------------------
-----------------------------------------------------------------------

(1) Intersections are drilled widths, not true widths.
(2) Some coordinates and elevations are approximate and subject to
final survey by a licensed surveyor


In the above table, the Gauss Kruger coordinate system and the Campo Inchauspe datum are used to define drill hole collar positions. However on the longitudinal projection of the Eureka West Vein, the coordinate system refers to a local grid established for drilling the Eureka West Vein.

Quality Control and Assurance

The analytical results quoted in this release are derived from half drill core in the case of diamond drill holes, or from cuttings in the case of reverse circulation holes. Samples are prepared and assayed by ACME Analytical Laboratories SA (Mendoza) in Mendoza, Argentina.

Gold is determined initially by fire assay with AA finish. Samples assaying more than 10 ppm gold are re-assayed using a gravimetric finish.

Silver is determined initially by AAS, and samples assaying more than 100 ppm silver are re-assayed by fire assay with gravimetric finish.

Quality control of the analytical results is maintained by inserting standards, blanks, and duplicates into the sample run, approximately every twenty samples. Additional quality control is maintained by sending assay sample splits to a second laboratory from time to time. These checks are evaluated statistically at regular intervals.

All analytical data are entered into a Microsoft Access database, with limited access and numerous checks to ensure integrity of the data.

Note: The information in this Report that relates to exploration results is based on information provided by David Shatwell who is a Fellow of the Australian Institute of Geoscientists. Mr Shatwell has extensive experience relevant to the style and type of mineralisation and deposits under consideration, and to the activity undertaken, to qualify as a Competent Person as defined in the 2004 Edition of the "Australian Code for Reporting of Mineral Resources and Ore Reserves" (the JORC Code). Mr Shatwell consents to the inclusion in this Report on his work in the form and context in which it appears.

Andean Resources Ltd (www.andean.com.au) is an Australian and Toronto listed gold explorer searching for precious metals in the Andes, with four large property positions in the Patagonia.

To view Figure 1 "Eureka West Long Section", please visit the following link:
http://media3.marketwire.com/docs/andean1.pdf

To view Figure 2 "EDD-915 projected onto Section 175E", please visit the following link:
http://media3.marketwire.com/docs/andean2.pdf

To view Figure 3 "Eureka West April 2008 Block Model", please visit the following link:
http://media3.marketwire.com/docs/andean3.pdf

A.C.N. 064 494 319

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