Minera Andes Inc.
OTC Bulletin Board : MNEAF

Minera Andes Inc.

September 23, 2009 17:00 ET

Minera Andes Announces Work Stoppage at San Jose Mine

SPOKANE, WASHINGTON--(Marketwire - Sept. 23, 2009) - Minera Andes Inc. (the "Corporation" or "Minera Andes") (TSX:MAI)(OTCBB:MNEAF) announced today that it has been advised by Minera Santa Cruz SA ("MSC"), that production has been suspended at the San Jose Mine in Argentina due to a work stoppage by a group of employees which is not supported by the unions. The San Jose project is operated by MSC, which is owned 51% by Hochschild Mining plc and 49% by Minera Andes.

The Corporation will keep the market informed of developments as they occur.

Daily production at the San Jose mine has been running at a rate of approximately 32,600 silver equivalent ounces (of which the share attributable to Minera Andes is approximately 16,000 silver equivalent ounces).

Minera Andes is a gold, silver and copper exploration company focused in Argentina. The Corporation holds three significant assets:

1. 49% interest in Minera Santa Cruz SA, the company that operates the San Jose Mine, one of the world's largest primary silver mines;

2. 100% interest in the Los Azules copper project, which is subject to a back-in right for 51% held by Xstrata. This back-in right expires on October 1, 2009;

3. A portfolio of exploration properties near and around its existing assets. Drilling on three of these properties will begin in November.

This news release is submitted by James K. Duff, Chief Operating Officer of Minera Andes Inc.

For further information, please contact: Helen Bilhete in the Toronto office. Visit our Web site: www.minandes.com.

Caution Concerning Forward-Looking Statements:

This press release contains certain forward-looking statements and information, including those related to the resumption of work at the San Jose Mine. The forward-looking statements and information express, as at the date of this press release, the Corporation's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral reserves and other risks.

Readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See our annual information form for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

Contact Information

  • Minera Andes Inc.
    Helen Bilhete
    Director, Investor Relations
    Toll-Free: 1-866-441-0690 or 647-258-0395
    647-258-0408 (FAX)