Revenues
were $5,829,730 compared with $5,901,665 in 2007. The revenue decrease in 2008
was due to lower
sales volumes
partially offset by higher prices for gold and silver.
Cash flow
in 2008 was a deficit of $3,750,890 versus $2,099,870 in 2007. The decrease
was primarily due to lower
revenues
and increases in direct operating costs and general and administrative expenses.
At March
31, 2008, the Comp any had working capital of $2,313,524 and no long term debt.
At March 31, 2007 the
Company
had a working capital deficit of $907,570 and long-term debt of $101,217.
Investors
are cautioned that the company has not yet completed a feasibility study and
there is no certainty that the
proposed
operations will be economically viable. The Invicta property is not currently
in production.
The complete
Management Discussion and Analysis and Financial Statements have been filed
at www.Sedar.com.
For further
information call (604) 681-6186 or toll free: 1-888-356-4784 or visit our website
at
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.
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
.
The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this news release.