Andean American Gold Corp. ("Andean American" or the "Company") (TSX
VENTURE:AAG)(FRANKFURT:AQN) announces that its subsidiary company, Sinchao
Metals Corp. (TSX VENTURE:SMZ) ("Sinchao") announced today that it, Sinchao, has
appointed Scott Wilson of Scott E. Wilson Consulting, Inc. to undertake an
independent review of Sinchao's previously announced mineral resources on the
Sinchao Property (the "Property") and prepare a revised technical report on the
Property.


In their respective news releases dated April 20, 2011, Andean American and
Sinchao disclosed a material change to Sinchao's mineral resource estimates for
the Sinchao property. This material change was caused by title defects resulting
in a loss of title to portions of the previous mineral resource. The loss of
title may also negatively impact Sinchao's ability to access and potentially
extract portions of the previously disclosed mineral resources on its remaining
mineral tenure. Under National Instrument 43-101, Sinchao was required to file,
within 45 days of that date, a new technical report supporting its disclosure of
the revised mineral resource. Sinchao has not yet filed the required technical
report and is in default of its filing requirements. The issue with the prior
technical report was brought to Sinchao's attention by the Ontario Securities
Commission as part of its review of Sinchao's disclosure record which review was
being conducted in connection with its application to become a reporting issuer
in Ontario.


Andean American and its subsidiary, Sinchao, believe that the updated technical
report will show a material reduction in the estimated inferred resources on the
Sinchao Property, however it will not be possible to accurately quantify the
magnitude of such reduction until Scott Wilson completes its work. Until this
review is complete neither Andean American nor Sinchao can confirm what, if any,
resource is contained on the Property and for this reason the mineral resource
contained in the October 30, 2008 technical report should no longer be relied
upon.


Sinchao anticipates that it will be in a position to file a new National
Instrument 43-101 compliant technical report by mid-April, 2012.


About Sinchao

Sinchao Metals Corp. is focused on the exploration and development of the
Sinchao Gold-Silver-Copper property, located in Cajamarca province in Northern
Peru, 30 kilometers from Yanacocha, the largest gold mine in South America.


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 31,600 hectare Invicta gold-silver-copper
advanced exploration stage project and 64.95% of Sinchao Metals Corp., owner of
the Sinchao gold-silver-copper exploration project.


For further information about Andean American, please visit the Company's
website at www.AAGgold.com or call 416 368 9500.


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.
Aftermath Silver (TSXV:AAG)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Aftermath Silver Charts.
Aftermath Silver (TSXV:AAG)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Aftermath Silver Charts.