NEWS RELEASE                                                                                                                                May 1, 2008

Andean American Intersects 7.15 Metres Grading 3.82 g/t Gold in Step Out Drillingat the Invicta Project, Peru

Andean American Mining Corp. (TSX.V-AAG) (FWB-AQN) (BVL-AAG) is pleased toreport additional results from step out drilling on the Atenea Structure at its InvictaProperty in Peru. Holes AE-DDH-08-114 and AE-DDH-08-119 were drilledapproximately 150 metres to the east of recently reported Holes AE-DDH-08-113 andAS-DDH-08-115 (see News Release dated April 29, 2008). Holes AE-DDH-08-119 andAE-DDH-08-114 both intersected the Atenea Structure, approximately 160 metres and210 metres below the surface respectively. The four recent intersections in the easternextension of the Atenea Structure indicate that there is potential for significant resourcesalong this under explored portion of the structure.

Drill Hole AE-DDH-08-119 intersected:

Drill Hole AE-DDH-08-114 intersected:

These are drill intersections and true widths have not yet been determined.

"We are very pleased with the results from these two holes, which confirm our model thatthe Atenea Structure continues to the east of the current resource area," states PresidentAndrew Gourlay, "and that the Atenea Structure may continue to the Pucamina Vein,approximately 250 metres further to the east."

The 41,500 hectare Invicta Property hosts massive to semi-massive style gold-silver-copper mineralization. The Property is located in west central Peru approximately 250kilometres by road northeast of Lima, at an elevation of 3,400 metres. The Atenea VeinStructure consists of quartz-cemented hydrothermal breccia with variable amounts ofpyrite, chalcopyrite, galena, sphalerite and traces of bornite. The quartz varies fromwhite to grey, and displays acicular crystals, cockade textures and open spaced filling,with rare vugs lined with quartz crystals to 5cm size. The sulphides within the quartzvary from semi-massive to massive.

Surface drilling and underground development of the 3400 Level Adit are continuing.Current resource estimates include 4,739,500 tonnes grading 2.73 g/t Au, 18.3 g/t Ag and0.45% Cu in the measured and indicated categories, with an additional 6,088,700 tonnesgrading 1.44 g/t Au, 15.7 g/t Ag and 0.53% Cu in the inferred category. Resourceestimates are from the NI 43-101 Invicta Technical Report filed on SEDAR and datedJuly 24, 2007. Wardrop Engineering Inc. is currently preparing an updated resourceestimate based on data from the 13,000m 2007 drill program.

Mr. Andrew Gourlay, P. Geol., President of Andean American Mining Corp. is aQualified Person as defined in the Canadian Securities Administrators NationalInstrument 43-101 with the ability and authority to verify the authenticity and validity oftechnical and scientific data. This news release has been prepared under Mr. Gourlay'ssupervision. All samples were prepared and analyzed by CIMM Labs in Lima, Peru, anISO-accredited laboratory. Standard reference materials, blanks and field duplicates wereinserted prior to shipment from site to monitor the quality control of the analytical data.

On behalf of Andean American Mining Corp.,

"John Huguet"
John Huguet
Chairman & CEO

Andean American Mining Corp. (TSX.V:AAG) (FWB:AQN) (BVL:AAG) is an international mining andexploration company focused on growth both organically and through acquisitions. The Company isactively pursuing new targets of potential early stage gold and silver prospects in Peru and currently hasthree key assets: the 41,500 hectare Invicta gold-silver-copper advanced exploration stage project; 58% ofSinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead mineralization project; and the9,000 hectare Santa Rosa property, which is a small producing open-pit mine.

For further informationcall(604)681-6186ortollfree:1-888-356-4784orvisitwww.andeanamerican.com

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'splans for its mineral projects, the overall economic potential of its properties, the availability of adequatefinancing and involve known and unknown risks, uncertainties and other factors which may cause theactual results, performance or achievements expressed or implied by such forward-looking statements to bematerially different. Such factors include, among others, risks and uncertainties relating to potentialpolitical risks involving the Company's operations in a foreign jurisdiction, uncertainty of production andcosts estimates and the potential for unexpected costs and expenses, physical risks inherent in miningoperations, currency fluctuations, fluctuations in the price of gold and other metals, completion ofeconomic evaluations, changes in project parameters as plans continue to be refined, the inability or failureto obtain adequate financing on a timely basis, and other risks and uncertainties, including those describedin the Company's Financial Statements, Management Discussion and Analysis and Material ChangeReports filed with the Canadian Securities Administrators and available at www.sedar.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of thisnews release.