NEWS RELEASE -
June 11, 2008 - Andean American Issues a Correction Notice to
June 10, 2008 Press Release
Andean American Mining Corp. (TSX.V-AAG) (FWB-AQN) (BVL-AAG) issues a correction notice to its news release issued at 8:30 AM Eastern on June 10, 2008.
Under the heading “ADIT SAMPLING: SIGNIFICANT RESULTS”
Line 7 should read: East Wall, 4.30m, 49.51 g/t Au and not 9.51 g/t Au as previously reported.
Andean American apologizes for any inconvenience caused by the error.
The corrected release follows:
Summary of 2008 Drilling and Sampling Results from Andean American’s Invicta Project, Peru
June 10, 2008 - Andean American Mining Corp. (TSX.V-AAG) (FWB-AQN) (BVL-AAG)
is pleased to provide a summary of drilling and sampling results at the
Invicta Project, Peru since January 1, 2008. To date, results have been
received for underground sampling of a total of 783 samples and 14,282
metres of surface diamond drilling. A summary of results is presented
below. This phase of drilling has concluded but some drill results are
pending. The 3400 level Adit has been extended for a total of 1,168 metres
in the tunnel and crosscuts.
New zones of similar structure with the potential to be significant sources
of gold mineralization have been discovered to both the east and the west
of the Atenea Structure. Mineralization remains open at both ends and
the system continues to depth. Andean American is continuing exploration
and drilling in these areas and will report on the results as assays are
received. Over 2.7 kilometres of continuous structure have now been connected
over the Dany (900 m), Atenea (950m) and Pucamina (850m) Structures.
“We are extremely pleased with our drilling and sampling results
to date,” states President Andrew Gourlay. “Drill holes such
as AE-DDH-08-115 and adit samples from the east wall of Crosscut 3S indicate
that there is prime potential to significantly expand on the current resource
estimate.”
ADIT SAMPLING: SIGNIFICANT RESULTS
| Width (m) | Au g/t | Ag g/t | Cu % | ||
| Crosscut 1S: | West Wall | 15.45 | 1.31 | 55.3 | 1.53 |
| East Wall | 14.0 | 5.17 | 78.7 | 2.06 | |
| Crosscut 2S: | West Wall | 8.20 | 1.11 | 45.5 | 1.51 |
| East Wall | 9.70 | 1.89 | 103.0 | 2.14 | |
| Crosscut 3S: | West Wall | 3.80 | 4.60 | 155.4 | 2.01 |
| East Wall | 4.30 | 49.51 | 581.9 | 3.93 | |
| East wall | 1.00 | 108.44 | 1154.0 | 4.83 | |
| East wall | 0.30 | 50.21 | 629.0 | 3.47 | |
| East wall | 1.50 | 58.84 | 595.0 | 4.24 | |
| Crosscut 4S: | West Wall | 3.60 | 2.27 | 47.1 | 1.44 |
| East Wall | 5.30 | 3.71 | 49.9 | 1.66 | |
| SW Crosscut: | West Wall | 5.80 | 0.95 | 18.4 | 0.79 |
| East Wall | 7.70 | 1.47 | 39.3 | 0.77 | |
| Crosscut 315 N: | West Wall | 18.90 | 0.60 | 18.1 | 0.79 |
| East Wall | 12.30 | 0.67 | 18.6 | 0.79 |
| DRILL PROGRAM: SIGNIFICANT INTERSECTIONS | |||||
| Interval (m) | Width (m) | Au g/t | Ag g/t | Cu % | |
| AE-DDH-07-33: | 190.5 – 194.8 | 3.4 | 7.76 | 3.4 | 0.08 |
| AE-DDH-08-113: | 166.3 – 168.9 | 2.6 | 0.42 | 16.5 | 0.25 |
| AE-DDH-08-115: | 216.84 – 231.6 | 14.75 | 4.43 | 7.5 | 0.09 |
| AE-DDH-08-119: | 197.25 – 200.0 | 2.75 | 0.95 | 17.6 | 0.13 |
| 206.25 – 209.7 | 4.34 | 0.84 | 4.4 | 0.05 | |
| AE-DDH-08-114: | 202.35 – 209.5 | 7.15 | 3.82 | 8.6 | 0.10 |
These are drill intersections and true widths have not yet been determined.
The Atenea Structure consists of quartz-cemented hydrothermal breccia with variable amounts of pyrite, chalcopyrite, galena, sphalerite and traces of bornite. The quartz varies from white 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 quartz vary from disseminated to massive. The combined structure has been traced for over 2,700 metres of strike length by mapping and diamond drilling, and remains open in both strike directions and to depth.
“We now believe a Mesothermal system continues to depth underneath the Epithermal system. These systems often continue at depth well beyond their length,” comments President Andrew Gourlay.
The recently completed drill program, in conjunction with the underground sampling and drilling, is designed to upgrade the current resource estimates of 4,739,500 tonnes grading 2.73 g/t Au, 18.3 g/t Ag and 0.45% Cu in the measured and indicated categories, with an additional 6,088,700 tonnes grading 1.44 g/t Au, 15.7 g/t Ag and 0.53% Cu in the inferred category. Resource estimates are from the NI 43-101 Invicta Technical Report dated July 24, 2007.
Mr. Andrew Gourlay, P. Geol., President of Andean American Mining Corp. is a Qualified Person as defined in the Canadian Securities Administrators National Instrument 43-101 with the ability and authority to verify the authenticity and validity of technical and scientific data. This news release has been prepared under Mr. Gourlay’s supervision. All samples were prepared and analyzed by CIMM Labs in Lima, Peru, an ISO-accredited laboratory. Standard reference materials, blanks and field duplicates were inserted 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 and exploration company focused on growth. The Company is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has two key assets: the 41,500 hectare Invicta gold-silver-copper advanced exploration stage project; 58% of Sinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead mineralization project. For further information call (604) 681-6186 or toll free: 1-888-356-4784 or visit www.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'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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.