SOURCE: Andes Gold Corporation

November 17, 2011 15:20 ET

Andes Gold Corporation Continues to Grow

BOCA RATON, FL--(Marketwire - Nov 17, 2011) - Andes Gold Corporation (PINKSHEETS: AGCZ) is pleased to announce its financial results for the nine month period ending September 30, 2011. The Company had gross income of $3,303,408 for the nine months ending September 30, 2011 versus gross income of $2,926,800 for the year ending December 31, 2010. The Company had a net profit of $364,882 for the 9 months ending September 30, 2011 versus a net profit of $257,289 for the year ending December 31, 2010. The profit for the nine months ending September 30, 2011 is already 41.8% higher than the profits of the December 31, 2010 year end results. The company anticipates having a profitable fourth quarter with increased production.

Andes has been completing development work by opening new shafts on its concession to increase its proven reserves and to make sure that it has additional ore for processing in its mill. It has increased the capacity of its mill to 50 tons per day and in the last quarter of 2011 expects to further increase the capacity of the mill to 75 tons per day. With the increase in the gold reserves, this additional capacity will be put to immediate use. The fact that Andes has its own mill means that it is not dependent on other producers to process its ore. It is always able to generate a cash flow because it does not have to wait for other mills to process its ore.

Andes Gold Corporation trades in the United States on the NQB Pink Sheets market under the symbol "AGCZ." For further information, please contact the Company at (561) 210 8496 or at http://www.andesgoldmine.com/.

NOTE: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934. Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause results to differ materially. Such risks, uncertainties and other factors include but are not limited to new economic conditions and factors described in independent reports, company reports and other filings with regulatory bodies.

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