AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE:AAU) is pleased to
announce the following update on its advanced-stage Urumalqui Au-Ag exploration
project (the "Project") in Peru, where the Company is earning a 60% joint
venture interest from Gitennes Exploration Inc. (See news release of April 22,
2010): 




--  Environmental and Community Relations consultants (the "Consultants")
    have been engaged and are working productively on the requisite tasks
    necessary to timely obtain a permit (the "Permit") from the Peruvian
    governmental authorities to allow the Company to initiate a proposed
    Phase I infill drilling program (the "Program") on the Project. The
    Program will focus on infill drilling to a depth of 200 meters along the
    central and southeastern segments of the Urumalqui Vein, which cover 1.0
    kilometre of the 1.5 kilometre Urumalqui Vein outcrop where the majority
    of the Project's historical drilling programs were concentrated.

--  Based on a review of the Project's historical geological information,
    the Company is now planning on increasing the Program from 2,000 to
    approximately 3,000 metres of diamond core infill drilling, which is
    intended to produce an overall drill hole spacing of approximately 50
    metres over the 1.0 kilometre vein strike, to a depth of 200 metres.
    This level of drilling density should optimize the results of a NI 43-
    101 resource calculation, which the Company plans to commission upon
    completion of the Program.

--  New agreements have been signed with the key surface owners controlling
    lands covering the Urumalqui Vein to permit the Company to undertake its
    proposed drilling and exploration programs. Also, an agreement has been
    signed with a surface owner for a core storage facility.

--  A new core storage facility has been constructed, and the drill core
    from the Project's previous drilling programs has been transferred to
    this new facility.

--  The Company's geologists have relogged all Urumalqui Vein drill core
    from previous drilling programs and remapped the entire 1.5 kilometre
    Urumalqui Vein outcrop.

--  A topographical firm was engaged to relocate all the Project's previous
    drill collars covering the Urumalqui Vein and to establish the locations
    of the Company's proposed Phase I drill collars. This work was completed
    successfully during December.

--  Drilling companies have been contacted, and it appears that an
    appropriate diamond core drilling rig could be timely available to
    complete the Phase I drill program.

--  The Company's Consultants and legal counsel have advised that the Permit
    is expected to be approved during the second half of January 2011, which
    should enable the Company to initiate the Phase I drill program in
    February - March 2011.



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 Director
Angold Resources (TSXV:AAU)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Angold Resources Charts.
Angold Resources (TSXV:AAU)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Angold Resources Charts.