AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE:AAU) is pleased to
announce that Peru's Local Water Authority has approved the Company's water
permit application for its advanced-stage Urumalqui Au-Ag exploration project
(the "Project") in Peru. On February 14, 2011, Peru's Ministry of Energy and
Mines issued the approval voucher of the Company's Declaration of Environmental
Impact Study ("DIA") application for the Project (see news release of February
16, 2011). With the approval of the DIA and water permit applications, the
Company is now fully permitted to initiate its Phase I drill program (the
"Program") on the Project. The Company is earning a 60% joint venture interest
in the Project from Gitennes Exploration Inc. (see news release of April 22,
2010).


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 has increased the
Program from 2,000 metres to approximately 3,000 metres of diamond core infill
drilling, which is intended to achieve 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 estimate, which the Company plans to commission upon completion
of the Program.


A Lima-based drilling company has been selected to complete the Program, and a
drilling contract should be concluded in time to initiate the Program during
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)
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