ANDINA Minerals Inc.

ANDINA Minerals Inc.

April 26, 2011 12:48 ET

Andina Minerals Grants Options

TORONTO, ONTARIO--(Marketwire - April 26, 2011) -Andina Minerals Inc. (TSX VENTURE:ADM) today reported that it has issued 80,000 incentive share options under the Company's share option plan to an employee. The options are exercisable into common shares of Andina at CAD$1.46 per share and have a five year term.

About Andina Minerals Inc.

Andina is an advanced stage gold exploration company with its flagship Volcan Gold Project ("Volcan") located in the prolific Maricunga Gold Belt in Chile, home to over 70 million ounces of past and present gold resources. Volcan contains Proven and Probable gold reserves of 6.6 million ounces contained in 283 million tonnes of ore grading on average 0.73 grams per tonne, Measured and Indicated gold resources of 2.3 million ounces grading on average 0.71 grams per tonne and Inferred gold resources of 0.67 million ounces grading on average 0.5 grams per tonne.

Additionally, at the Ojo De Agua area, Volcan contains Inferred gold resources of 0.5 million ounces in 18.9 million tonnes of ore at an average grade of 0.85 grams per tonne.

Andina is progressing towards the preparation of an initial resource estimate, expected in the third quarter 2011, for the Ojo De Agua East area, where high grade mineralization has been discovered.

Having completed and published a positive Pre-feasibility Study for Volcan in Q1 2011, Andina is now advancing towards a Bankable Feasibility Study, targeted for completion in the first half of 2012.

Contact Information

  • Andina Minerals Inc.
    George M. Bee
    President & CEO
    416 203 3488

    Andina Minerals Inc.
    Derrick Weyrauch
    Chief Financial Officer
    416 203 3488