AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE:AAU)(LMA:AAU)
announces that the Company has not made the $350,000 payment which was due on
July 31, 2014 to Gitennes Exploration Inc. ("Gitennes") pursuant to the amended
Share Sale and Mining Agreement dated May 17, 2012 (the "Agreement"). The
Agreement provides the Company with the right to acquire Gitennes' 40% interest
in the Urumalqui Ag-Au Project (the "Project") in Peru (see news release of May
22, 2012). Pursuant to the Agreement, the Company has 60 days, until September
29, 2014, to cure the default.


AndeanGold has the right to earn a 100% interest in the 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"). The Company intends to pursue
financing alternatives in order to cure the default and retain its right to
acquire a 100% interest in the Urumalqui Project. Failure to do so would
immediately terminate the Agreement, but would not affect the Company's right to
earn a 60% interest in the Project pursuant to the 60% Option.


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


Investor Relations:
Jamie Mathers
778.879.5084
jsmathers6@gmail.com
www.andeangoldltd.com
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