Andean American Announces Board and Executive Appointments

TORONTO, ONTARIO -- (Marketwire) -- 12/14/10 -- Andean American Gold Corp. ('Andean American' or the 'Company') (TSX VENTURE: AAG)(FRANKFURT: AQN) is pleased to announce that it has appointed Mr. Mario Caron to the Board of Directors of the Company, effective January 1, 2011. Furthermore, Mr. David Rae, the current President of the Company has been appointed to the Board of Directors with immediate effect and, as announced on November 25, 2010, is to assume the role of Chief Executive Officer from January 1, 2011.

Mr. Caron is a mining engineer who has held numerous senior executive and board positions and has extensive experience in exploration, project development, mining operations and capital markets with companies operating internationally. He was the President, CEO and a director of TSX-V listed Axmin Inc. from January 2008 until June 2010. He has held positions with Tiberon Minerals Ltd., Defiance Mining Corporation and other advanced mining projects in Africa and South America. He is currently director and non-executive chairman of Orosur Mining Inc., a director of Vaaldiam Mining Inc. and a director of First Uranium Corporation. Mr. Caron received his Bachelor of Engineering, Mining at McGill University and is a member of the Quebec Order of Engineers and the Association of Professional Engineers of Ontario.

'Mr. Caron brings to our board a strong combination of hands-on operational and board level experience. He has worked extensively in South America and he will be a great asset to Andean American as we advance our Invicta gold project to production,' said David Rae, President of Andean American.

In connection with his appointment as director, Andean American has granted, effective January 1, 2011, to Mr. Caron options to purchase 100,000 common shares of the Company. These options were granted pursuant to Andean's stock option plan for a period of five years and will be exercisable at the closing market price on the date prior to the date of grant. The board appointments and the granting of stock options are both subject to regulatory approval.

The Company is also pleased to announce that Mr. Miguel Huaman who has served as the Vice-President, Operations at the Invicta gold project since March this year, has been appointed President of Invicta Mining S.A.C., Andean American's 100% owned subsidiary, effective January 1, 2011. Prior to joining Andean American, Mr. Huaman was the President of Minera Huallanca from 2004 to 2009 where he managed the poly-metallic Pucarrajo and Contonga underground mines in Peru. Mr. Huaman is an Engineering Graduate of the Universidad Nacional Mayor de San Marcos and a Geologist Engineer with a Postgraduate degree in Exploration and Valuation of Mineral Resources from the University of Nancy, France. Mr. Huaman is a former President of the Geological Society of Peru.

For further information, please visit the Company's website at www.aaggold.com.

About Andean American

Andean American is an international mining and exploration company focused on value growth through the development of gold and copper projects in Peru and currently has two key assets: the 28,200 hectare Invicta gold-silver-copper advanced exploration stage project and 60% of Sinchao Metals Corp., owner of the Sinchao gold-silver-copper exploration project. In addition, the Company is actively targeting early stage gold and silver prospects in Peru.

For further information call (604) 681-6186 or toll free: 1-888-356-4784.

On behalf of Andean American Gold Corp.,

David Rae, President

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 Gold Corp.

David Rae

President

416 368 9500
investors@aaggold.com
www.aaggold.com