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Minera Andes Announces Increased Silver and Gold Production for the Fourth Quarter and for the Year 2010 at the San José Mine

Today Minera Andes announced positive results for the fourth quarter. The proceeds from this project allows the company to continue to explore their large claims. We bought Minera Andes in September 2009 @ CA$0.84 today the stock gained 3.29% against slumping commodity prices to close at CA$2.51 This means a 198.8% gain since we picked this stock in September 2009. Using the three step retirement plan we wrote about in a previous post we own this stock for free now!

Minera Andes News Release:

TORONTO, ONTARIO – January 19, 2011 – Minera Andes Inc. (the “Corporation” or “Minera Andes”) (TSX: MAI and US OTC: MNEAF) announces the San José mine production results for the fourth quarter of 2010 and the year ended December 31, 2010. During the fourth quarter, the San José mine produced 1,871,440 ounces of silver and 26,141 ounces of gold, of which 49% is attributable to Minera Andes. For the full year of 2010 silver production was 5,323,842 ounces and gold production was 84,303 ounces.

SAN JOSÉ MINE PRODUCTION COMPARISON (100% BASIS)*

Production Total
2010
Q4
2010
Q3
2010
Total
2009
Q4
2009
Ore production (tonnes) 461,134 135,710 112,681 460,971 100,460
Average head grade silver (g/t) 397 475 423 398 351
Average head grade gold (g/t) 6.14 6.34 6.42 6.19 7.34
Silver produced (ounces) 5,323,842 1,871,440 1,408,501 4,997,700 1,032,025
Gold produced (ounces) 84,303 26,141 22,025 77,075 19,961
Silver equivalent production (ounces) 10,382,041 3,439,929 2,729,995 9,622,222 2,229,687
Net silver sold (ounces) 5,169,675 1,916,163 1,219,676 5,072,023 988,747
Net gold sold (ounces) 83,326 26,900 19,932 77,220 19,233

*49% of the San José mine production is attributable to Minera Andes Inc.

Fourth quarter 2010 silver production was 33% higher and gold production was 19% higher compared to the third quarter of 2010. The increase in silver and gold production was the result of increased mill throughput, increased metallurgical recoveries for silver and gold, and higher grades for silver compared to the third quarter. The mill is currently operating routinely at full capacity. The increase in mill throughput was due to the development of additional production areas in the mine, and the improved silver grade was due to production from higher grade silver areas and because of incremental silver production from the Merrill Crowe circuit in the mill. Fourth quarter 2010 silver production increased 81% and gold increased 31% compared to the fourth quarter of 2009. Production in the fourth quarter of 2009 was reduced because of 15 days of labour disruptions.

Fourth quarter production cost information will be provided jointly with the financial results for the fourth quarter which are due to be filed at the end of March 2011.

Sales of silver and gold were 57% and 35% higher, respectively, in fourth quarter of 2010 compared to the third quarter as a result of increased ore production and a decrease in products inventory. Compared to the same quarter last year, sales of silver and gold in the fourth quarter of 2010 were 94% and 40% higher, respectively. This was mainly due to increases in mill throughput, metallurgical recoveries and head grades.

This news release is submitted by James K. Duff, Chief Operating Officer of Minera Andes Inc.

About Minera Andes Minera Andes is an exploration company exploring for gold, silver and copper in Argentina with three significant assets: A 49% interest in Minera Santa Cruz SA, owner of the San José Mine in close proximity to Goldcorp Inc.’s Cerro Negro project; 100% ownership of the Los Azules copper deposit with an inferred mineral resource of 10.3 billion pounds of copper and an indicated resource of 2.2 billion pounds of copper; and, 100% ownership of a portfolio of exploration properties bordering Goldcorp Inc.’s Cerro Negro project in Santa Cruz Province. The Corporation had $10 million USD in cash as at September 30th 2010 with no bank debt. Rob McEwen, Chairman and CEO, owns 33% of the company.

About Minera Santa Cruz Minera Santa Cruz SA is a joint venture owned 51% by Hochschild Mining Argentina, a wholly owned subsidiary of Hochschild Mining plc, and 49% by Minera Andes S.A., a wholly owned subsidiary of the Corporation. The joint venture owns and operates the San José property.

About Hochschild Mining plc Hochschild Mining plc is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has over forty years of experience in the mining of precious metal epithermal vein deposits and currently operates four underground epithermal vein mines, three located in southern Peru, one in southern Argentina and one open pit mine in northern Mexico. Hochschild also has numerous long-term prospects throughout the Americas.

For further information, please contact: Andrew Elinesky or visit our Web site: www.minandes.com.

Andrew Elinesky
Controller
99 George St. 3rd Floor,
Toronto, Ontario, Canada. M5A 2N4
Toll-Free: 1-866-441-0690
Tel:647-258-0395
Fax: 647-258-0408
E-mail: info@minandes.com

Reliability of Information
Minera Santa Cruz S.A., the owner and operator of the San José mine, is responsible for and has supplied to the Corporation all reported results from the San José mine. This press release is based entirely on information provided to Minera Andes by Minera Santa Cruz S.A. (“MSC”). Minera Andes’ joint venture partner, a subsidiary of Hochschild Mining plc, and its affiliates other than MSC do not accept responsibility for the use of project data or the adequacy or accuracy of this release. As the Corporation is not the operator of the San José mine, there can be no assurance that production information reported to the Corporation by MSC is accurate, the Corporation has not independently verified such information and readers are therefore cautioned regarding the extent to which they should rely upon such information.

Caution Concerning Forward-Looking Statements:
This press release contains certain forward-looking statements and information. The forward-looking statements and information express, as at the date of this press release, the Corporation’s plans, estimates, forecasts, projections, expectations or beliefs as to future events and results, including the outcome of pending and current litigation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us, are inherently subject to significant business, economic and competitive uncertainties and contingencies and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves and other risks

Readers should not place undue reliance on forward-looking statements or information. The Corporation undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See the Corporation’s annual information form for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

Source: Company website

Minera Andes Announces Updated Preliminary Assessment For Its Los Azules Copper Deposit

Great news today from Minera Andes, the only big copper play in our portfolio. Shares are trading up 5% after the opening on Friday. The gold and silver that comes as a by-product in this project almost covers the mining costs. Essentially this means they are mining copper almost for free. With copper prices soaring the last weeks and strong fundamentals for copper the coming years, this project has become a real marvel. We boughs shares of Minera Andes in September 2009 @ CA$0.72 using today’s intra-day high of $CA2.92 this means a whopping 305,5% gain!

Minera Andes News Release

TORONTO, ONTARIO – December 16, 2010 – Minera Andes Inc. (TSX: MAI and US OTC: MNEAF) – is pleased to announce the results of an updated preliminary assessment (“PA”) on its 100% owned Los Azules Copper Project (the “Project”) located in the San Juan Province of western central Argentina. It is based on the updated resource estimate announced in June 2010 and higher base case metal price assumptions.

  • Using a Copper price of $3.00/ lb
  • Base case pre-tax Net Present Value (“NPV”) is $2.8 billion and the Internal Rate of Return (“IRR”) is 21.4%, at a discount rate of 8%
  • Life of mine Cash Operating Costs of $0.96/lb of copper net of gold and silver by-product credits.
  • Initial Capital $2.9 billion
  • Capital Payback in 3 years.
  • Mine life of 25 years.

Rob McEwen, Chairman and CEO of Minera Andes, said:

“We are advancing the engineering studies on Los Azules to systematically de-risk the project. The field season is just getting underway, and we are currently mobilizing the first two of five drill rigs to the project. In addition to continuing the infill and step out drilling, we will start to test some of the newly identified deeper geophysical targets this season.”

The Los Azules Copper Project is an advanced-stage porphyry copper exploration project located in the cordilleran region of San Juan Province, Argentina near the border with Chile. The deposit is a typical porphyry copper system in that the upper part of the system consists of a barren leached cap, which is underlain by a high-grade secondary enrichment blanket, and the primary mineralization below the secondary enrichment zone extends to at least 650 meters, which is the depth of the deepest holes drilled to date. The deposit is approximately one kilometer wide by four kilometers long, and it is open in several directions.

Highlights of the updated Preliminary Assessment are shown below. Details may be found in an updated technical report which will be posted on SEDAR following the issuance of this news release.

NPV ($3.00/lb Cu, 8% discount rate) $2,826 million
IRR 21.4%
Initial Capital Expenditure $2,851 million
LOM Average Operating Costs $7.82/t ore
LOM C-1 Cash Costs (net by-product credits) $0.96/lb Cu mined
Nominal Mill Capacity 100,000 tpd
Annual Throughput 36 million tonnes
Mine Life 25.4 years
Life-of-Mine Strip Ratio 1.37
LOM average annual copper-in-concentrate production 169,100 tonnes
First 5 Years average annual copper-in-concentrate production 226,500 tonnes

All monetary amounts are expressed in US dollars unless otherwise stated. The PA is preliminary in nature and includes the use of inferred resources which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Thus, there is no certainty that the results of the PA will be realized. Actual results may vary, perhaps materially. The level of accuracy for Preliminary Assessment estimates is approximately +/- 35%.

Compared to the previous Preliminary Assessment released in March 2009, the NPV discounted at 8% has increased from $496 million to $2.9 billion and the IRR has increased from 10.8% to 21.4%. In addition, the payback of pre-production capital has decreased from 6.4 years to 3.1 years from the start of production.

The main driver of the improved project economics is that the base case copper price has been increased from $1.90/pound to $3.00/pound. Specifically, the higher copper price added approximately $3.2 billion to the NPV, and the increased resources added approximately $2.1 billion.

The benefits of the higher copper price and increased resources were significantly offset by increases in the estimated operating costs ($695 million), capital costs ($100 million) and export retention taxes and royalties ($3.4 billion).

The updated Preliminary Assessment also incorporates updated property status and ownership information, revised locations for the project facilities, and an updated geological interpretation.

Project Economics

The Preliminary Assessment contains a cash flow valuation model based upon the geological and engineering work completed to date and technical and cost inputs developed by Samuel Engineering, Inc., Ausenco Vector and MTB Project Management Professionals, Inc. The base case was developed using long term forecast metal prices of $3.00/lb for copper, $980/oz for gold, and $15.60/oz for silver.

The following chart shows the sensitivity of the base case’s NPV and IRR to changes in the copper price: (8% real discount rate).

The following chart shows the sensitivity to metal prices, operating costs, and capital cost. The graph shows that the project NPV is much more sensitive to metal prices than to capital or operating costs.

About Minera Andes

Minera Andes is an exploration company exploring for gold, silver and copper in Argentina with three significant assets: A 49% interest in Minera Santa Cruz SA, owner of the San José Mine in close proximity to Andean Resources’ Cerro Negro project; 100% ownership of the Los Azules copper deposit with an inferred mineral resource of 10.3 billion pounds of copper and an indicated resource of 2.2 billion pounds of copper; and, 100% ownership of a portfolio of exploration properties bordering Andean’s Cerro Negro project in Santa Cruz Province. The Corporation had $10 million USD in cash as at September 30, 2010 with no bank debt. Rob McEwen, Chairman and CEO, owns 33% of the company.

This news release has been submitted by Jim Duff, Chief Operating Officer of the Corporation. For further information, please contact Jim Duff or visit our Website: www.minandes.com.

James K. Duff
Chief Operating Officer
99 George St. 3rd Floor
Toronto, Ontario, Canada, M5A 2N4
Toll-Free: 1-866-441-0690
Tel: 647-258-0395
Fax: 647-258-0408
E-mail: info@minandes.com

Scientific and Technical Information:

The information presented in this press release has been reviewed and approved by the Qualified Persons responsible for the Technical Report that presents the results of the Updated Preliminary Assessment. They are: Kathleen Altman, Ph.D., PE,, Robert Sim, P.Geo,. Bruce Davis, PhD, FAusIMM, Richard Jemielita, Ph.D., MIMMM, William Rose, PE, and Scott Elfen, PE. All are independent Qualified Persons as defined by National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI 43-101″). Robert Sim, Bruce Davis, and William Rose are responsible for the mineral resource estimate. Bruce Davis is responsible for the quality control for the assaying of the Los Azules drill core. All samples were collected in accordance with industry standards. Splits from the drill core samples were submitted to the ACME sample preparation laboratory in Mendoza, Argentina and then transferred to ACME’s laboratory in Santiago, Chile for fire assay and ICP analysis. Accuracy of results is tested through the systematic inclusion of standards, blanks and check assays. William Rose is responsible for developing the mine production schedule and participating in the resource estimate. Scott Elfen of Ausenco Vector is responsible for information about Environmental Liabilities, Environmental Permitting and for the Geotechnical designs used for the Study. Richard Jemielita is responsible for information about the Geological Setting, Deposit Types, Mineralization, Exploration, and Drilling. Kathleen Altman, Samuel Engineering, Inc., is the principal author of the Report with specific responsibility for Mineral Processing and Metallurgical Testing, the capital and operating cost estimates and the economic evaluation.

Mineral resources are generated using ordinary kriging with a nominal block size of 20x20x15m. Block grade estimates are derived from drill hole sample results and the interpretation of a geologic model which relates to the spatial distribution of copper, gold, silver and molybdenum in the deposit. There are a total of 114 drill holes in the Los Azules database with a cumulative length of 30,997 meters and a total of 15,260 samples analyzed for a suite of elements including total copper, gold, silver and molybdenum. A total of 58 of the drill holes have some portion of the sample intervals tested for sequential copper analysis. This information contributed to the development of the mineral zone domains. The portion of the new mineral resource that has been defined as “indicated” is based on a drilling configuration that exhibits the degree of continuity required for higher level mineral resources. Inferred mineral resources are limited to blocks within a maximum distance of 200 meters from a drill hole. As required by NI 43-101, the possible future economic viability of the mineral resource has been exhibited by restriction within a pit shell derived about the copper content in indicated and inferred class blocks at a copper price of $2.50/lb, total operating costs of $5.25/tonne and an average pit slope of 34 degrees. Mineral resources are presented at a cut-off grade of 0.35%Cu, which is the same base cut-off grade used in the 2008 mineral resource estimate. These are mineral resources, not mineral reserves.

For further information in respect of the Los Azules project please refer to the technical report entitled “Canadian National Instrument 43-101 Technical Report Updated Preliminary Assessment, Los Azules Project, San Juan Province, Argentina” dated December 1, 2010, the “Los Azules Report.” This report will be made available on SEDAR (www.sedar.com) concurrent with the filing of this news release. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the project as described in the Los Azules Report will be realized.

Cautionary Note to U.S. Investors:

All resource estimates reported by the Corporation were calculated in accordance with NI 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Caution Concerning Forward-Looking Statements:

This press release contains certain forward-looking statements and information. The forward-looking statements and information express, as at the date of this press release, the Corporation’s plans, estimates, forecasts, projections, expectations or beliefs as to future events and results and management’s understanding of proposed legislative changes. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, risks related to litigation, property title, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves and other risks.

Readers should not place undue reliance on forward-looking statements or information. The Corporation undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See the Corporation’s annual information form for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

Source: Company website

Minera Andes Announces Financial Results for the Third Quarter 2010

Below you will find the third quarter results of Minera Andes. There is not much news in it, but we are confident that Minera Andes will produce some positive surprises the coming years. Icon of the industry Rob McEwen is the biggest shareholder and the company is teaming up with some of the biggest players (Hochschild Mining and Xstrata). We still think that this company is one of the building blocks for some kind of new Goldcorp. We bought Minera Andes in September 2009 @ CAD$0,72 at the moment the stock is trading @ CAD$2,04 meaning a 183,3% gain.

Minera Andes Press Release:

TORONTO, ONTARIO – November 11 2010 – Minera Andes Inc. (the “Corporation” or “Minera Andes”) (TSX: MAI and US OTC: MNEAF) is pleased to announce net income of $6.1 million ($0.02 per share basic and diluted) for the three month period ended September 30 2010 compared to net income of $5.2 million ($0.02 per share basic and diluted) for the same period ended September 30 2009. All amounts in this news release are in US dollars unless otherwise noted. Our financial statements and management’s discussion and analysis are available under the Corporation’s profile at www.sedar.com and www.sec.gov.

Minera Andes has a 49% interest in the San José Mine operated and owned by Minera Santa Cruz (“MSC”), a joint venture between Minera Andes (49%) and Hochschild Mining (51%).

Highlights – Third Quarter 2010

  • Net income increase of $0.9 million: The Company reported a $0.9 million increase in net income for the quarter (as compared to the same quarter in 2009) primarily due to an increase of $1.8 million in income recorded on our investment in MSC, which was partially offset by an increase of $0.9 million in total expenses for the quarter. The increase in expenses was a net result of an increase in general and administrative costs, a decrease in foreign currency exchange gains (due to a decrease in the strengthening of the Canadian dollar), and a decrease in professional fees as compared to the third quarter in 2009.
  • San José Mine Performance (on a 100% basis): Net income at the San José Mine increased by $3.8 million compared to the same three month period in 2009, driven primarily by an 8% increase in sales. The increase in sales was due to higher realized metal prices for both silver and gold offset by a decrease in the number of ounces of silver and gold sold in the quarter. Production for the quarter was 1,408,501 ounces of silver and 22,025 ounces of gold. Silver production was unchanged and gold production was 2% lower compared to the same quarter in 2009, a result of a decrease in total ore processed at the mine offset by an increase in the head grade for silver. On a per-ounce co-product basis the average cash cost was $8.81 per ounce of silver and $570 per ounce of gold for the quarter.
  • Settlement of lawsuit with Hochschild Mining plc: The Company announced on September 20 2010, an end to litigation with certain affiliates of Hochschild Mining plc. (“Hochschild”) in New York courts relating to funding of the San José Mine joint venture. Revised finance and shareholder loan agreements were completed and the Company received its first scheduled repayment of interest.
  • San José Mine Exploration: The Company announced on October 7 2010, the discovery of nine new high-grade gold/silver veins plus important extensions of two other veins, which together total more than five kilometers in strike length at the San José Mine. The discoveries represent significant exploration progress at the San José Mine where the total strike length of all the previously known veins totalled approximately 17 kilometers. The 2010 exploration budget has been increased to $6.5 million compared to $2.5 million in 2009.

This news release is submitted by Perry Ing, Chief Financial Officer of Minera Andes Inc.

About Minera Andes Minera Andes is an exploration company exploring for gold, silver and copper in Argentina with three significant assets: a 49% interest in Minera Santa Cruz SA, owner of the San José Mine in close proximity to Andean Resources’ Cerro Negro project; 100% ownership of the Los Azules copper deposit with an inferred mineral resource of 10.3 billion pounds of copper and an indicated resource of 2.2 billion pounds of copper; and, 100% ownership of a portfolio of exploration properties bordering Andean’s Cerro Negro project in Santa Cruz Province. The Corporation had $10 million USD in cash as at September 30 2010 with no bank debt. Rob McEwen, Chairman and CEO, owns 33% of the company.

About Minera Santa Cruz Minera Santa Cruz SA is a joint venture owned 51% by Hochschild Mining Argentina, a wholly owned subsidiary of Hochschild Mining plc, and 49% by Minera Andes S.A., a wholly owned subsidiary of the Corporation. The joint venture owns and operates the San José property.

About Hochschild Mining plc Hochschild Mining plc is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has over forty years of experience in the mining of precious metal epithermal vein deposits and currently operates four underground epithermal vein mines, three located in southern Peru, one in southern Argentina and one open pit mine in northern Mexico. Hochschild also has numerous long-term prospects throughout the Americas.

For further information, please contact: Daniela Ozersky or visit our Web site: www.minandes.com.

Daniela Ozersky
Manager, Investor Relations
99 George St. 3rd Floor,
Toronto, Ontario, Canada. M5A 2N4
Toll-Free: 1-866-441-0690
Tel:647-258-0395
Fax: 647-258-0408
E-mail: info@minandes.com

Source: Company website

Press Release: Minera Andes Announces Production at the San José Mine for the Third Quarter 2010

TORONTO, ONTARIO – October 20, 2010 – Minera Andes Inc. (the “Corporation” or “Minera Andes”) (TSX: MAI and US OTC: MNEAF) announces the San José mine production results for the third quarter of 2010. During the third quarter, the San José mine produced 1,408,501 ounces of silver and 22,025 ounces of gold, of which 49% is attributable to Minera Andes.

SAN JOSÉ MINE PRODUCTION COMPARISON (100% BASIS)*

Production Q3
2010
Q2
2010
Q3
2009
Ore production (tonnes) 112,681 116,259 122,342
Average head grade silver (g/t) 423 368 407
Average head grade gold (g/t) 6.42 5.81 6.65
Silver produced (ounces) 1,408,501 1,220,794 1,402,000
Gold produced (ounces) 22,025 19,707 22,470
Silver equivalent production (ounces) 2,729,995 2,403,214 2,750,527
Net silver sold (ounces) 1,219,675 1,294,677 1,535,973
Net gold sold (ounces) 19,932 22,168 24,679

*49% of the San José mine production is attributable to Minera Andes Inc.

Compared to the second quarter of 2010, the 2010 third quarter silver production was 15% higher and gold production was 12% higher. The increase in silver and gold production was primarily the result of the expected improvement in grade profile compared to the second quarter: the silver head grade increased 15% and the gold head grade increase 11%. The improved silver grades are related to ongoing development of the Kospi vein. Mill throughput in the third quarter of 2010 was 3% lower than the previous quarter. Compared to the third quarter of 2009, the third quarter 2010 silver production was approximately the same and gold production decreased 2%.

Third quarter production cost information will be provided with the third quarter financial results.

Sales of silver and gold were 6% and 10% lower, respectively, in third quarter of 2010 compared to the second quarter as a result of an increase in products inventory. Compared to the same quarter last year, sales of silver in the third quarter of 2010 were 21% lower and gold sales were 19% lower due to a decrease in products inventory in the third quarter of 2009.

The Corporation recently announced the discovery of nine new veins and vein extensions at San José. To date the total strike length of the new veins and extensions is over five kilometers, which compares to a total strike length of about 17 kilometers for the previously known veins. The new veins are ideally located between the Kospi and the Frea veins, and the new veins can be accessed from workings on those veins. The Corporation is preparing an estimate of the resources for the new veins, and the results will be released before the end of October. Meanwhile, exploration around the existing mine and elsewhere on the joint venture property is continuing.

This news release is submitted by James K. Duff, Chief Operating Officer of Minera Andes Inc.

About Minera Andes Minera Andes is an exploration company exploring for gold, silver and copper in Argentina with three significant assets: a 49% interest in Minera Santa Cruz SA, owner of the San José Mine in close proximity to Andean Resources’ Cerro Negro project; 100% ownership of the Los Azules copper deposit with an inferred mineral resource of 10.3 billion pounds of copper and an indicated resource of 2.2 billion pounds of copper; and, 100% ownership of a portfolio of exploration properties bordering Andean’s Cerro Negro project in Santa Cruz Province. The Corporation had $8 million USD in cash as at June 30th 2010 with no bank debt. Rob McEwen, Chairman and CEO, owns 33% of the company.

About Minera Santa Cruz Minera Santa Cruz SA is a joint venture owned 51% by Hochschild Mining Argentina, a wholly owned subsidiary of Hochschild Mining plc, and 49% by Minera Andes S.A., a wholly owned subsidiary of the Corporation. The joint venture owns and operates the San José property.

About Hochschild Mining plc Hochschild Mining plc is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has over forty years of experience in the mining of precious metal epithermal vein deposits and currently operates four underground epithermal vein mines, three located in southern Peru, one in southern Argentina and one open pit mine in northern Mexico. Hochschild also has numerous long-term prospects throughout the Americas.

For further information, please contact: Daniela Ozersky or visit our Web site: www.minandes.com.

Daniela Ozersky
Manager, Investor Relations
99 George St. 3rd Floor,
Toronto, Ontario, Canada. M5A 2N4
Toll-Free: 1-866-441-0690
Tel:647-258-0395
Fax: 647-258-0408
E-mail: info@minandes.com

Source: Company website