ANDINA Minerals Inc.

ANDINA Minerals Inc.

February 20, 2007 16:30 ET

ANDINA Minerals Inc.: Drilling Outlines New Gold Zone at Volcan Gold Project

Ojo de Agua Area Drilling Returns 104 Metres Grading 0.81 g/t Gold

TORONTO, ONTARIO--(CCNMatthews - Feb. 20, 2007) - ANDINA Minerals Inc. (TSX VENTURE:ADM) ("Andina") is pleased to report the results from three reconnaissance drill holes from the Ojo de Agua area of Andina's Volcan Gold Project located in Chile's Maricunga Gold Belt. The drill results, which include a 104 metre interval grading 0.81 grams per tonne gold ("g/t Au"), confirmed the extension of gold mineralization below a series of trenches sampled in early 2006. Table 1 summarizes the results from the reverse circulation drill holes.

The Ojo de Agua area is located four kilometres northeast of Volcan's Dorado area where Andina continues to outline three gold deposits. Ojo de Agua is similar to the Dorado area in that both are underlain by large high-sulphidation alteration systems which host gold mineralization associated with breccia systems developed within diorite porphyries.

Table 1 Ojo de Agua Drill Assay Results (Feb 20, 2007)
Hole # Northing Easting Elevation From To Length Grade
(metres) (metres) (metres) (metres) (g/t Au)
(1) (2)
RODA-630 6974836 487770 4926 80 108 28 0.54
including 90 102 12 0.71
202 232 30 0.38
RODA-634 6974727 487879 4865 10 44 34 0.51
122 144 22 0.34
144 248 104 0.81
including 144 174 30 1.19
RODA-637 6974391 487444 4816 60 114 54 0.65
including 60 82 22 0.87
and 92 114 22 0.58

(1)All intervals represent downhole lengths and not true widths
(2)Assay composite intervals are based upon a 0.3 g/t Au cut off

"While the primary focus of our ongoing 40,000 metre Volcan drilling campaign is directed towards increasing the resource base within the property's Dorado area, we are dedicated to evaluating new high priority targets such as the large Ojo de Agua alteration system", stated Carl B. Hansen, President and CEO of Andina. "Considering the success of the reconnaissance drilling, we are mobilizing a drill rig back into the Ojo de Agua area and are considering the addition of another rig during the second quarter."

The Ojo de Agua drill holes targeted anomalous zones of gold mineralization identified by Andina during the previous Phase II (2005/2006) exploration season. A summary of the drill results follows:

- RODA-630 - collared near the base of the acid-leached alteration zone, the hole returned 28 metres grading 0.54 g/t Au, confirming the down dip extension of a 40 metre interval grading 0.58 g/t Au obtained from trench TR-11 (see Andina press release dated March 14, 2006). Mineralization is associated with a polymictic breccia developed within a diorite with fine disseminated pyrite.

- RODA-634 - collared 150 metres southeast of RODA-630 and 50 metres lower, the hole cut a wide interval of gold mineralization, 238 metres grading 0.54 g/t including 104 meters grading 0.81 g/t Au (at a 0.5 cut off grade), similarly hosted in a polymictic breccia with minor pyrite. The hole was drilled to test the down-dip extension of the gold mineralization encountered in trench TR-1 which included a 205 metre interval that graded 0.67 g/t Au.

- RODA-637 - collared 550 metres southwest of RODA-630, the drill hole tested a 50 to 75 metre wide, locally silicified, fault zone which has been traced on surface over a strike length of approximately 2,000 metres and from which surface grab samples had returned assays up to 6.58 g/t Au. The drill hole confirmed the presence of gold mineralization at depth with a 54 metre interval grading 0.65 g/t Au. The mineralized interval was oxidized.

About Andina Minerals Inc.

Andina is an Americas-focused exploration company, with a portfolio of precious metals exploration projects in Chile, dedicated to maximizing the value of its exploration assets through a disciplined and fiscally responsible approach to exploration.

Mr. Micheal Easdon, a Registered Professional Geologist resident in Santiago, Chile and an "Independent Qualified Person" as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI43-101") is also the "Qualified Person" for the Volcan exploration program.

The reverse circulation ("RC") chips from Andina's Volcan drilling campaigns were collected at the drill under the direct supervision of Andina staff. RC samples of approximately 70 kilograms in weight were collected over 2 metre intervals. The RC samples were appropriately tagged, secured and transported to the Andina exploration camp and then to Andina's secure sample logging and preparation site near Copiapo, Chile. RC chip samples were riffle split twice to obtain a 15 kilogram sample for assay purposes. Representative chips were collected from each sample for logging purposes. All samples were appropriately tagged and securely stored prior to shipping to Asesoria Minera Geoanalitica Ltda.'s ("Geoanalitica") laboratory in La Serena, Chile.

Samples are processed and analyzed for gold using fire assay techniques with atomic absorption finish. Samples which returned gold values greater than 1.00 g/t Au are re-analyzed by Geoanalitica using fire assay techniques with a gravimetric finish. Duplicate samples are inserted at a rate of approximately 5%. Andina also inserts standard samples within each sample batch to ensure laboratory quality control procedures. Occasionally Andina requests that Geoanalitica send samples to ALS Chemex in La Serena, Chile for 47 trace element analysis using ICP.

A 43-101 compliant Technical Report titled "Technical Report on the Volcan Gold Project. Region III, Chile" filed November 2006 at summarizes Andina's September 2006 Volcan resource estimate. Previous technical reports relating to the Volcan Gold Project have also been filed on the SEDAR web site. Further, all reports are available on the Company's website noted below.


This release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage and the timing and possible outcome of any pending litigation. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", 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. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold and copper; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. 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 Hansen
    President and CEO
    (416) 203-3488
    (416) 203-3438 (FAX)