Andean Resources Ltd.

Andean Resources Ltd.

November 26, 2009 08:30 ET

Andean Resources Ltd.: Board Changes in Support of Development Strategy for Cerro Negro

FREMANTLE, WESTERN AUSTRALIA--(Marketwire - Nov. 26, 2009) - Andean Resources (TSX:AND)(ASX:AND) announced today changes to its Board of Directors, consistent with its stated objective of preparing the Company for the development phase of its 100% owned Cerro Negro gold project in Southern Argentina.

Today, Mr. Morrice Cordiner and Mr. Warren Gilmour, who have served on the Company's Board since its formation as Andean Resources in December 2003, are retiring as Directors. Both Mr. Cordiner and Mr. Gilmour were instrumental in securing the original purchase of the Cerro Negro property and in guiding the Company in its formative years.

Also retiring today is Mr. Patrick Esnouf, who has served on the Board of the Company since September 2005. During that time, Mr. Esnouf has been a very active and influential Board member, responsible for establishing many of the Argentinean contacts which have been important as the Company built up its local presence and operations in Argentina.

Wayne Hubert, Andean's Chief Executive Officer commented, "On behalf of all shareholders, I'd like to thank each of these Directors for their contributions in forming and building the Company we now have today. We wish Morrice, Warren and Patrick all the best in their future business endeavors."

The Company is planning to strengthen and expand its Board of Directors through the appointment of individuals with the necessary experience required to oversee the Company's successful transition from an explorer to a mid-tier gold producer.

Andean Resources Ltd. is a dual listed company (TSX:AND)(ASX:AND), actively and aggressively exploring for gold resources in Argentina. The company is well positioned to become a mid-tier gold producer over the next two years as it commences production from its 100% owned Cerro Negro project. This high-grade, world-class deposit is located in the mining-friendly province of Santa Cruz, in southern Argentina, and contains a growing resource base of over 2.5 million ounces of gold. In order to expand its resource base and add to the future production profile, Andean is committed to ongoing exploration and building its resource inventory at the Cerro Negro project and, in the process, generating enhanced returns for its shareholders as a platform for future growth.

ABN 064 494 319

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