AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE:AAU)(LMA:AAU)
announces a non-brokered private placement for the issuance of up to 6,000,000
units at a price of $0.05 per unit to raise gross proceeds of up to $300,000.
Each unit will be comprised of one common share and one common share purchase
warrant. Each warrant will entitle the holder to purchase one additional common
share of the Company for eighteen months at a price of $0.07 per share. 


All securities issued in the private placement will be subject to a four-month
hold period from the closing of the private placement. Completion of the private
placement is subject to regulatory approval.


The Company will pay finders' fees with respect to the private placement, in
accordance with applicable securities laws and the policies of the TSX Venture
Exchange.


The proceeds of the private placement will be used principally to fund work on
the Company's plan to develop a small-scale mine on the Urumalqui Project in
Peru, and for general working capital purposes.


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 ("MRNNR") and Ministry of Environment in
support of the Company's request to renew exploration programs on its key
projects in Ecuador. In September 2012, MRNNR approved the Company's application
to restart exploration programs on its Curiplaya Au-Cu property.


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.
Phone: 732.940.5487
Email: tciali@andeangoldltd.com
Website: www.andeangoldltd.com


Investor Relations:
Jamie Mathers
Phone: 778-879-5084
Email: 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.