AndeanGold Ltd.

AndeanGold Ltd.

October 30, 2012 10:00 ET

AndeanGold Common Shares Commence Trading on the Lima Stock Exchange

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 30, 2012) - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE:AAU)(LMA:AAU) is pleased to announce that its common shares have been listed for trading today on the Bolsa de Valores de Lima ("BVL"). Trading will be under the ticker symbol "AAU" which is the same symbol as the Company trades on the TSX Venture Exchange.

Mr. Anthony F. Ciali, President & CEO states, "We are extremely pleased to have the opportunity to have a second listing on the BVL. The Company's principal property is the advanced-stage Urumalqui Ag-Au exploration project (the "Project") located in Peru. There has been strong interest in the Company and the Project by Peruvian mining investors, as evidenced by the fact that over 50% of the Company's recent $645,000 private placement was subscribed to by Peruvian investors (See news release of August 31, 2012). The BVL listing is expected to provide enhanced liquidity in the Company's common shares and an avenue for additional sources of financing to support the future growth of the Company."

Kallpa Securities SAB ("Kallpa") acted as the Company's sponsor for the BVL listing. Kallpa is a Peruvian investment company specializing in equity sales, research and corporate finance, and is the sponsor of 11 of the 15 junior mining companies listed on the Venture Exchange of the BVL. Kallpa commenced operations in 2008 and now ranks 8th by volume traded among 24 Peruvian brokers with a 4% market share in the Peruvian market.

The history of the BVL dates from December 31, 1860. Today, it is one of the more important markets in South America, and the only market in South America that has developed a venture exchange (since 2005) focused on junior mining companies. Almost 60% of the BVL trading volume is attributable to the mining industry.

About AndeanGold Ltd.:

AndeanGold Ltd. is engaged in the acquisition, exploration and potential development of primarily precious metals properties, principally in Peru and Ecuador. The focus of the Company's exploration activities is presently in advancing its Urumalqui Project, as well as pursuing mineral property acquisitions, in Peru. In Ecuador, the Company's activities have been limited to administrative and legal matters due to the Mining Mandate issued by the Ecuador Constituent Assembly on April 18, 2008. In November 2009, President Correa signed the Mining Regulations into law pursuant to the requirements of the new Mines Law, which was passed in January 2009. This was the final legal precursor to the re-initiation of exploration and mining development in Ecuador. The Company has been issued new mining titles under the new Mines law to its three key Ecuadorian projects and has filed the requisite documents with the Ministry of Non-Renewable Natural Resources ("MRNNR") and Ministry of Environment in support of the Company's request to renew exploration programs on its key projects in Ecuador. In September 2012, MRNNR approved the Company's application to restart exploration programs on its Curiplaya Au-Cu property.

Please refer to AndeanGold's website at for further information on the Company's projects and activities.

On Behalf of the Board of Directors of ANDEANGOLD LTD.

Anthony F. Ciali, President, CEO and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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