Andes Gold Ahead of Schedule to Close Acquisition of Roman Mine
January 11 2010 - 3:35PM
Marketwired
Andes Gold Corporation. (PINKSHEETS: AGCZ) announced today that it
has reached a new milestone in the acquisition of the "Roman Mine,"
a neighboring property.
The company is pleased to announce that the negotiations for the
strategic acquisition of the "Roman Mine" are ahead of schedule in
reaching this milestone; discussions started in July of 2009. The
property has huge advantages to the company as it has an additional
access road, site for an expanded work camp and will add a new
access tunnel making three tunnels in total. The company expects to
conclude this acquisition on or before February. With today's
announcement the company acknowledges that it is ahead of schedule
with its due diligence milestones including feasibility study and
long range production goal studies to be completed as part of the
due diligence process.
"The acquisition of the Roman Mine will add two new virgin gold
veins of ore production," previously stated Alex Diaz, President of
Andes Gold. In addition, "The company expects to reach production
goals of 40 tonnes of ore produced daily, within four months of
signing the final agreement," Mr. Diaz further stated.
Andes Gold Corporation is a gold producing and exploration
company with operations in Ecuador, (South America). In the post
market melt-down of 2008 the world took shelter in the security of
gold pushing the value to over $1,100 USD per ounce by January
2010. Producing gold properties such as Andes Gold will continue to
enjoy increased prosperity which can only improve if the price
continues to climb.
About Andes Gold Corporation:
Andes Gold Corporation is a United States of America registered
public company currently operating a gold mining and exploration
corporation, through its wholly owned subsidiary company Compania
Minera PLS.A. In Ecuador, (South America) which controls a Gold
mining and exploration concession called the Miranda Alto. For more
information please visit: www.andesgold-ir.com
Important Information:
About Forward-Looking Statements: Statements in this press
release may be "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Words such as
"anticipate," "believe," "estimate," "expect," "intend" and similar
expressions, as they relate to the company or its management,
identify forward-looking statements. These statements are based on
current expectations, estimates and projections about the company's
business based, in part, on assumptions made by management. These
statements are not guarantees of future performance and involve
risks, uncertainties and assumptions that are difficult to predict.
Therefore, actual outcomes and results may, and probably will,
differ materially from what is expressed or forecasted in such
forward-looking statements due to numerous factors, including those
described above. In addition, such statements could be affected by
risks and uncertainties related to the exploration for and
development of mineralized material, product demand, market and
customer acceptance, competition, pricing and development
difficulties, as well as general industry and market conditions and
growth rates and general economic conditions. Any forward-looking
statements speak only as of the date on which they are made, and
the company does not undertake any obligation to update any
forward-looking statement to reflect events or circumstances after
the date of this release. Information on the Company's website does
not constitute a part of this release.
Contact: Alex Diaz President 1-212-541-2495
www.andesgold-ir.com
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