NEWS RELEASE ..........................TSX-V:AAG
May 27, 2009 ........ ..SEDAR Profile # 00003879
Andean American Mining: Invicta Project Update
VANCOUVER, BRITISH COLUMBIA-Andean American Mining Corp. (TSX.V-AAG) (FWB-AQN)
Andean American Mining Corp. is pleased to report that Guy Lokhorst, P.Eng. and independent Qualified Person, has recently completed his site visit to the Invicta Project located in West-Central Peru approximately 250 kilometres by road northeast of the city of Lima. The Lokhorst Group Ventures Inc. was contracted as the lead consultant for an audit of the feasibility study which has been completed by internal geological staff and external consultants as announced in the news release dated April 30, 2009.
In addition, the Lokhorst Group has completed a detailed document review for all the supporting studies including the following components:
| • Planning • Economic Modeling and Sensitivity Analysis • Basic Engineering • Metallurgical Studies • Resource Modeling • Mining Methodology • Capital Costs • Environmental Impact Assessments • Community Agreements • Commercialization Proposals • Infrastructure and Access, including Rights of Way • Water Management • Waste Management • Pit Development • Underground Development • Site Facilities • Mine Reclamation and Mine Closure • Personnel and Mine Organization • Project Organization • Project Construction Schedule |
|
Based on the advanced status of all project areas, the Lokhorst Group has confirmed that the feasibility study will have an early completion date of June, 2009. Their May 24th progress report indicated completion of all initial reviews and approximately 50% completion on the detailed reviews. The Company will file the feasibility study on SEDAR upon receipt.
The Environmental Impact Assessment for the project is on a parallel track and also nearing completion in the month of June. The Company received approval of its Environmental Impact Assessment Executive Summary from the Ministry of Energy and Mines, Peru, at 5000 tpd (tonnes per day). The project will meet or exceed the industry standards in environmental protection and in establishing good relations with the communities around the Invicta site.
On behalf of Andean American Mining Corp.
“John Huguet”
John Huguet
Chairman & CEO
Andean American Mining Corp. (TSX.V:AAG) (FWB:AQN) 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.