AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE:AAU)(LMA:AAU) is
pleased to announce that Gitennes Exploration Inc. ("Gitennes") and the Company
have signed a further amendment to the Share Sale and Mining Agreement dated May
17, 2012, as previously amended on May 10, 2013, September 16, 2013 and February
27, 2014 (collectively, the "Agreement"), which revises the timing of future
payment obligations stipulated in the Agreement. The Agreement provides the
Company with the right to acquire Gitennes' 40% interest in the Urumalqui Ag-Au
Project in Peru (see news releases of May 22, 2012, May 21, 2013, September 19,
2013 and February 28, 2014).


The scheduled June 17, 2014 cash payment of $350,000 has been rescheduled for
payment on July 31, 2014. In addition, the due dates for the remaining future
payment obligations stipulated in the Agreement have been extended from December
17, 2014 to January 31, 2015 and from June 17, 2015 to July 31, 2015. In
consideration for Gitennes agreeing to the amendment, the Company has agreed to
pay Gitennes 250,000 common shares of the Company, which are payable on or
before June 30, 2014.


AndeanGold Ltd. has the right to earn a 100% interest in the Urumalqui Project
from Gitennes pursuant to an existing Option Agreement (the "60% Option")
between the parties dated April 21, 2010 (see news release dated April 22, 2010)
and the Share Sale and Mining Agreement (the "40% interest").


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:
Tony Ciali, AndeanGold Ltd.
732.940.5487
tciali@andeangoldltd.com
www.andeangoldltd.com


Investor Relations:
Jamie Mathers
778.879.5084
jsmathers6@gmail.com
Angold Resources (TSXV:AAU)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Angold Resources Charts.
Angold Resources (TSXV:AAU)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Angold Resources Charts.