ANDINA Minerals Inc.

ANDINA Minerals Inc.

April 17, 2008 14:00 ET

Andina Announces 100% of Warrants Expiring April 12, 2008 Exercised

TORONTO, ONTARIO--(Marketwire - April 17, 2008) - ANDINA Minerals Inc. (TSX VENTURE:ADM) ("Andina") is pleased to announce that 100% of the remaining balance of its April 12, 2008 dated warrants, priced at $1.50 per warrant, and 100% of the remaining balance of the related broker units, priced at $1.10 per unit, have been exercised for total gross proceeds of CDN$10.4 million. Andina issued 7.1 million shares for the exercise for these warrants and units resulting in total outstanding shares of 72.6 million. The warrants were initially issued in a private placement financing that closed on April 12, 2006.

The proceeds from this warrant exercise will be used to advance its Volcan Gold Project in Chile and for general corporate purposes. As of April 17, 2008, Andina had approximately CDN$25.8 million in cash in its treasury.

"The funds raised from the exercise of these warrants allows us to continue to aggressively pursue our resource and exploration drilling programs at Volcan as we progress the project towards commencing an economic evaluation during the second half of 2008," said Carl B. Hansen, President and CEO of Andina.


This release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements with respect to results of due diligence, exploration results, the success of exploration activities generally, permitting time lines, mine development prospects, government regulation of exploration and mining operations, timing of economic and scoping-level studies, future share issuances, and title disputes or claims. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Although Andina has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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

Contact Information

  • Andina Minerals Inc.
    Carl B. Hansen
    President and CEO
    (416) 203-3488
    (416) 203-3438 (FAX)
    Andina Minerals Inc.
    Tracey M. Thom
    Vice President, Investor Relations
    (416) 203-3488
    (416) 203-3438 (FAX)