SOURCE: Geoandina Mining Corp.

September 21, 2007 11:08 ET

Geoandina Mining Corp. Acquires Properties in Argentina in Agreement With PetraGold Mining Services

TORONTO--(Marketwire - September 21, 2007) - Geoandina Mining Corp. (PINKSHEETS: GODN) (FRANKFURT: GM3), a junior exploration company, is pleased to announce that it has acquired the La Purisima property in the Province of San Juan, Argentina. In addition the Company has signed an agreement with PetraGold Mining Services S.R.L., a well known exploration and mining operation founded in San Juan, Argentina.

This is an underdeveloped area of the country that has been known to contain high mineralization, as there are neighbouring mines that have been in the production of gold and other resources. Preliminary studies have indicated the presence of gold, silver, zinc and copper.

"We are happy to have chosen this property and to have added it to our growing portfolio. Our group was able to review all available technical data in relation to this property and has engaged PetraGold Mining Services S.R.L. to help develop the property," noted Mr. Jonathan Hagen, President and CEO of Geoandina Mining Corp.

Among the objectives of PetraGold's participation is the provision of mining and logistic services, catering, geotechnical and any and all tasks associated with mining exploration. Geoandina Mining Corp. is dedicated to the pursuit of sound, viable exploration and development opportunities here and abroad building on its existing portfolio.

PetraGold Mining Services S.R.L. has commenced work on the exploration stages of La Purisima as of this week.

About Geoandina Mining Corp.

Geoandina Mining Corp. is a publicly traded mining holding company, trading under the ticker symbol GODN on the US Pink Sheets market and GM3 in the Frankfurt Stock Exchange. Geoandina is a junior exploration company focused on growth throughout South America, specifically in the under explored country of Argentina.

The South American division of Geoandina Mining Corp. has been in the mining industry for over twenty years. Our explorations are in Argentina, specifically in the regions of Mendoza and San Juan y Neuquen, with the main plant of operations being in Mendoza. Geoandina's explorations in these areas has resulted in the production of multi-minerals such as calcium, talcum, sulfates, and castings for massive construction/industrial projects.

Please visit the Company's website at www.geoandina.com

About PetraGold Mining Services S.R.L.

PetraGold is an Argentine-based mining company dedicated to all stages of the mining industry. The Company enters into joint ventures and agreements to assist junior exploration companies attain the results necessary for their specific targets. They undertake exploration, prospecting, developing, drilling schedules and extraction to production. They currently hold several mining properties in the province of San Juan that have proved to contain high quantities of evaluated precious and base metals. For further information, please feel free to visit their website at http://www.petragold.com.ar

FORWARD-LOOKING STATEMENTS:

Statements contained in this news release, which are not historical facts, are forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 that involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things: volatility and sensitivity to market prices for coal; replacement of reserves; procurement of required capital equipment and operating parts and supplies; equipment failure; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; imprecision in reserve estimates; success of future exploration and development initiatives; competition; operating performance of the facilities; environmental and safety risks including increased regulatory burdens; seismic activity, weather and other natural phenomena; failure to obtain necessary permits and approvals from government authorities; changes in government regulations and policies including tax and trade laws and policies; ability to maintain and further improve positive labor relations; and other development and operating risks. Although Geoandina believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this report. The company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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