VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 20, 2012) - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE:AAU) announces that the term of the share purchase warrants issued on October 6 and 22, 2010, with an initial term of one-year, have been extended from their current extended expiry date of March 30, 2012 to July 31, 2012. The extension has been approved by the TSX Venture Exchange. A total of 6,250,000 non-transferable share purchase warrants (a "Warrant" or the "Warrants") were issued to subscribers of the private placement which closed on October 6 and 22, 2010. As originally issued, each Warrant entitled the holder to purchase one common share of the Company at the price of $0.20 per share at any time up to 4:00 pm (Vancouver time) on October 6 and 22, 2011.
As a result of extension of the term of the Warrants, each Warrant now entitles the holder to purchase one common share of the Company at the price of $0.20 per share at any time up to 4:00 pm Vancouver time on July 31, 2012. As at March 20, 2012, 701,850 Warrants held by subscribers to the private placement had been exercised.
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 in support of the Company's request to renew exploration programs on its key projects in Ecuador. The Company is actively working with government officials to achieve this end.
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 DirectorNeither 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.