Andean American Gold Corp.: Corporate Update Following the Annual and Special Meeting of Shareholders

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/19/11 -- Andean American Gold Corp. ('Andean' or the 'Company') (TSX VENTURE: AAG)(FRANKFURT: AQN) is pleased to provide highlights of the annual and special meeting of shareholders that took place in Toronto, Ontario, on September 15, 2011.

The Board of Directors was unanimously re-elected, and is composed of the following members:

Mr. David Rae (non-independent director) and the following independent directors; Mr. Paulo Bilezikjian, Mr. Bryan Morris, Mr. Mario Caron and Mr. Ernesto Maurer.

Other business of the annual and special meeting included the re-appointment of the Company auditors, namely PricewaterhouseCoopers LLP, the approval of the Company's 2011 Stock Option Plan, which is subject to annual regulatory approval, the Amendment to the Articles of the Company and the approval of the 2011 Shareholder Rights Plan.

Following the annual shareholders meeting, the Board of Directors elected and appointed the following officers and committees of the Board:

Audit Committee:

--  Bryan Morris
--  Mario Caron
--  Paulo Bilezikjian

Compensation Committee:

--  Paulo Bilezikjian
--  Ernesto Maurer

The Directors re-appointed Mr. Paulo Bilezikjian as Chairman, Mr. David Rae as President and CEO and Mr. Bruce Ramsden as VP Finance and CFO.

In keeping with annual reviews following the annual meeting and conforming to Policy, the Board granted 1,975,000 options to its directors and officers. The options will have a term of five years, will vest immediately and have an exercise price of $0.49 per share.

Investor Relations

The Company also wishes to announce that it has appointed Linda Dorrington to develop and implement its investor communications and marketing program in support of Andean's growth strategy.

The investor relations agreement with Linda Dorrington has an indefinite term and may be terminated by either party in accordance with the terms of the agreement. Pursuant to the terms of the agreement, she will be paid a monthly fee of $6,400. Upon execution of the agreement Linda Dorrington was granted options to purchase 75,000 common shares of Andean pursuant to Andean's stock option plan, subject to regulatory approval. The options are exercisable at a price of $0.49 per share for a period of five (5) years.

Canadian Head Office

With effect from December 1, 2011, Andean American will be closing its Vancouver office and consolidating its Canadian executive team near Toronto. The new Canadian head office is located at:

Westbury Corporate Centre
Suite 101, 2275 Upper Middle Road East
Oakville, Ontario L6H 0C3
Tel: 416-368-9500
Fax: 416-491-6801

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 59.8% 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 about Andean American, please visit the Company's website at www.AAGgold.com or call (604) 681-6186 or toll free: 1-888-356-4784.

On behalf of Andean American Gold Corp.,

David Rae, President and Chief Executive Officer

Forward Looking Information

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 and Chief Executive Officer

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