AndeanGold Announces Grant of Stock Options
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/07/11 -- AndeanGold Ltd. ('the Company' or 'AndeanGold') (TSX VENTURE: AAU) announces that, pursuant to the Company's Incentive Stock Option Plan, it has granted stock options to management, directors and employees to purchase up to 2.6 million common shares in the capital stock of the Company. The options are exercisable at a price of $0.25 per share for a period of ten years from the date of grant.
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
Neither the 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:
AndeanGold Ltd. - Corporate Office
Tony Ciali
President, CEO and Director
732.940.5487
tciali@andeangoldltd.com
www.andeangoldltd.com
Ascenta Capital Partners Inc.
Jim Glass
Investor Relations
604.684.4743 ext. 225 or Toll free: 1.866.684.4743 ext. 225
jim@ascentacapital.com