AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE:AAU)(LMA:AAU) is
pleased to announce that the Company has agreed to settle in full, indebtedness
in the amount of $398,225.55 by the conversion thereof into 7,964,511 common
shares (the "Shares") of the Company at a price of $0.05 per share in accordance
with the policies of the TSX Venture Exchange.


In accordance with securities legislation currently in effect, the Shares will
be subject to hold period of four months plus one day from the issuance of the
aforesaid securities.


This transaction is subject to acceptance by the applicable regulatory authorities.

About AndeanGold Ltd:

AndeanGold Ltd. is engaged in the acquisition, exploration and potential
development of primarily precious metals properties, principally in Peru and
Ecuador. The focus of the Company's exploration activities is presently in
advancing its Urumalqui Project, as well as pursuing mineral property
acquisitions, in Peru. In Ecuador, the Company's activities have been limited to
administrative and legal matters due to the Mining Mandate issued by the Ecuador
Constituent Assembly on April 18, 2008. In November 2009, President Correa
signed the Mining Regulations into law pursuant to the requirements of the new
Mines Law, which was passed in January 2009. This was the final legal precursor
to the re-initiation of exploration and mining development in Ecuador. The
Company has been issued new mining titles under the new Mines law to its three
key Ecuadorian projects and has filed the requisite documents with the Ministry
of Non-Renewable Natural Resources and Ministry of Environment ("MRNNR") in
support of the Company's request to renew exploration programs on its key
projects in Ecuador. In September 2012, the Company received authorization from
the MRNNR to renew exploration programs on its Curiplaya Project.


Please refer to AndeanGold's website at www.andeangoldltd.com for further
information on the Company's projects and activities.


On Behalf of the Board of Directors of ANDEANGOLD LTD. 

Anthony F. Ciali, President, CEO and Director 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Corporate Office:
AndeanGold Ltd.
Tony Ciali
732.940.5487
tciali@andeangoldltd.com
www.andeangoldltd.com


Investor Relations:
Jamie Mathers
778.879.5084
jsmathers6@gmail.com
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