Andean American Mining Corporate Update

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/31/10 -- The Board of Directors of Andean American Mining Corp. (TSX VENTURE: AAG)(FRANKFURT: AQN) ('the Company') is pleased to provide highlights of the annual and special meeting that took place in Vancouver, BC, on August 31, 2010.

The Board of Directors was unanimously re-elected and is composed of the following members: Mr. John Huguet, (non independent director), Mr. Paulo Bilezikjian, Mr. Bryan Morris, Mr. Shafiq Gulamani, Mr. Nick DeMare, Mr. Juan Carlos Ortiz and Mr. Ernesto Maurer (independent directors).

Other business of the annual and special meeting included a resolution to change the name of the Company to Andean American Gold Corp., the re-appointment of the Company auditors, namely PricewaterhouseCoopers LLP and the approval of the Company's 2010 Stock Option Plan. The Stock Option Plan is subject to annual regulatory approval.

Following the annual shareholders meeting, the Board of Directors met to elect officers and appoint the following committees of the Board:

Audit Committee:

--  Nick DeMare
--  Shafiq Gulamani
--  Bryan Morris

Strategic Planning Committee:

--  Paulo Bilezikjian
--  John Huguet
--  Bryan Morris

Corporate Governance and Compensation Committee:

--  Nick DeMare
--  John Huguet
--  Ernesto Maurer
--  Bryan Morris

The Directors re-appointed Mr. John Huguet as Chairman and CEO, Mr. David Rae as President, Mr. Bruce Ramsden as VP Finance and CFO, Mr. Mark Zabel as VP Corporate Development and Ms. Rocio Echegaray as Corporate Secretary.

Andean American Mining Corp. (TSX VENTURE: AAG)(FRANKFURT: AQN) is an international mining and exploration company focused on growth. The Company is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has two key assets: the 28,200 hectare Invicta gold-silver-copper advanced exploration stage project; 60% of Sinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead exploration project.

On behalf of Andean American Mining Corp.,

John Huguet, Chairman & CEO

This news release may contain forward-looking information within the meaning of the Securities Act (Ontario) ('forward-looking statements'). Such forward-looking statements may include the Company's plans for its mineral projects, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company's operations in a foreign jurisdiction, uncertainty of production and costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of gold and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Financial Statements, Management Discussion and Analysis and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

Neither 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.

Contacts:

Andean American Mining Corp.

John Huguet

Chairman & CEO

(604) 681-6186 or Toll Free: 1-888-356-4784

(604) 681-3652 (FAX)
investors@andeanamerican.com
www.andeanamerican.com