SPOKANE, WA--June 5, 2009-- Minera Andes Inc. (TSX: MAI and US OTC: MNEAF) announces the results of a NI 43-101 Technical Report that comprises an independent review of the mineral resources and reserves as of June 2008 at the San Jos� mine in Santa Cruz province, southern Argentina. The San Jos� mine is operated by Minera Santa Cruz S.A. ("MSC") (owned 51% by Hochschild Mining plc ("Hochschild") (HOC..L Reuters, HOC.LN Bloomberg, London Stock Exchange) and 49% by Minera Andes.

The Technical Report entitled "NI 43-101 Technical Report, Minera Andes, Inc., San Jos� Silver-Gold Project, Santa Cruz, Argentina", was prepared by SRK Consulting (US), Inc. ("SRK") and endorsed by Chris Elliott (MAusIMM) and Leah Mach (CPG), appropriately qualified persons according to NI 43-101.

Mineral Resources
The June 2008 San Jos� mineral resource and mineral reserve estimates, mine life, and mining rates, disclosed herein are based on work from our joint venture partner that was audited and adjusted by independent qualified persons Chris Elliott and Leah Mach at SRK. The mineral resources and reserves remain open along strike and at depth in some areas..

SRK used a gold price of $600 per ounce (oz) and $10.50 per oz for silver for estimating mineral resources and reserves, which reflect the price outlook in mid-2008 for San Jos�. The average Life of Mine cash operating costs are estimated at $122/tonne of ore processed, or $271/ounce gold equivalent. The base case Net Present Value (NPV), using long-term metal price estimations of $850 per ounce of gold and $12.50 per ounce of silver and a discount rate of 8%, is $205 million. The undiscounted NPV representing cumulative cash flow is $234 million.

At June 30, 2008 total Measured and Indicated Mineral Resources at the San Jos� mine were 570,000 ounces of gold and 39.4 million ounces of silver, contained in 2.5 million tonnes grading 7.11 g/t gold and 490 g/t silver, or 73.6 million ounces of silver on a silver equivalent basis (see table below). An additional 77,000 ounces of gold and 5.1 million ounces of silver, in 447,000 tonnes, grading 5.33 g/t gold and 356 g/t silver are classified as Inferred Resources. The cutoff value used to estimate the mineral resources is 181g/t silver equivalent (using a price of $600/oz for gold and $10.50/oz for silver).

Mineral Resources* - Measured and Indicated

*Note: Contains 100 percent of the resources, Minera Andes ownership of the project is 49%. Mineral Resources are inclusive of mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Minera Andes has calculated the Silver/Gold equivalency as 1oz gold = 60 oz silver.

The mineral resource estimates are based on 593 surface and underground drill holes (12,140 meters), 3 surface trenches (95.2 meters) and 5,389 channel samples (11,084 meters). The channel samples were taken from underground workings constructed at Huevos Verdes, Frea, and Kospi. The nominal drill spacing at Huevos Verdes and Frea is approximately 35 meters along strike (horizontally) and 50 meters vertically and at Kospi it is approximately 40 meters by 40 meters. The underground channel samples are spaced at approximately 2.5m along the drifts and the drifts are spaced at about 20m vertically.

The resource models were developed using industry-accepted methods. SRK validated the model estimates and found them to reasonably estimate grade and tonnage. The mineral resource estimates are compliant with CIM Definition Standards for Mineral Resources and Mineral Reserves as incorporated by reference in NI 43-101.

Mineral Reserves
At June 30th, 2008 the Proven and Probable Mineral Reserves, based on an overall economic cutoff value of $115/t (using a price of $600/oz for gold and $10.50/oz for silver), are 1,615,000 tonnes at 6.88 g/t gold and 486 g/t silver, containing 357,000 ounces of gold and 25,230,000 ounces of silver. The mineral reserves also take into account marginal blocks of ore located on the periphery of higher grade zones. The marginal cutoff for these blocks was $45/t. The marginal cutoff was defined by the value of ore that meets the variable costs, but not the fixed costs.

Mineral Reserves* - Proven and Probable

*Note: Contains 100 percent of the reserves, Minera Andes ownership of the project is 49%. Minera Andes has calculated the Silver/Gold equivalency as 1oz gold = 60 oz silver.

The decrease in the reserves from June 2007 to June 2008 is due to the application of a higher cut-off grade and an increased dilution allowance by SRK as well as depletion. The following summarizes the key assumptions, parameters and methods used in the mineral resource and mineral reserve estimates:

. Gold assays were cut to 120 g/t, 10 g/t, 50 g/t, 20 g/t and 50 g/t and 36 g/t at Huevos Verdes South, Central, North, Ramal, Frea and at Kospi respectively. Silver assays were cut to 10,000 g/t, 1,000 g/t, 6,000 g/t, 2,000 g/t, 4,000 g/t and 3,800 g/t at Huevos Verdes South, Central, North, Ramal, Frea, and at Kospi, respectively.
. Density values used for the estimate are 2.595 t/m3 for Huevos Verdes, 2.611 t/m3 for Frea, and 2.621 t/m3 for Kospi.
. The geological model was developed using a series of northeast oriented sections spaced approximately 5 meters to 50 meters apart.
. Assays were composited to full vein-width interval..
. The estimation was done using Ordinary Kriging coupled with oriented search ellipses within the vein wireframes.
. Block grades were estimated based on interpretation of geological parameters logged in drill holes.
. Included in the mineral resource estimate at Huevos Verdes and Frea are 17,886 chip channel samples taken from the underground workings.
. Conventional Cut and Fill (CC&F) minimum mining width 0.8m
. Mechanized Cut and Fill (MC&F) minimum mining width 2.0m
. Planned dilution 0.2m HW + 0.2m FW= 0.4m total
. Unplanned dilution 5%
. Economic stope outlines from BECOV US$115/t

A technical report, prepared in accordance with NI 43-101 will be filed on SEDAR (www.sedar.com) within 45 days. This news release was prepared by, or under the supervision of, Mr. Allen Ambrose, President of Minera Andes, a "qualified person" within the meaning of NI 43-101. For (i) the resource/reserve estimate contained herein; (ii) a description of the key assumptions, parameters and methods used to estimate the mineral resource/reserve referred to in this news release; and (iii) a general discussion of the extent to which the estimate of mineral resources/reserves may be materially affected by any unknown environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues, please refer to the technical report that will be filed within 45 days.

San Jos� Mine Update
The capacity of the processing plant at San Jos� was increased to 1,500 tonnes per day in fourth quarter of 2008, and the processing plant is currently consistently achieving target production throughput. However, mine production has lagged behind mill capacity due to difficult ground conditions encountered in the Kospi vein development. Those problems have largely been overcome, and MSC is forecasting full production from Kospi by the end of the second quarter. During the development of the Kospi vein, mill feed has been supplemented with material from low grade surface stockpiles. For the full year, MSC is forecasting silver production approximately 30% higher than 2008 and gold production approximately 50% higher than 2008.

Subsequent to the June 2008 resource and reserve estimate, which was the subject of SRK's review, MSC has prepared an updated estimate of the resources and reserves at San Jos� as at December 31, 2008. The updated resources and reserves, compliant with NI 43-101 standards, will be released shortly.

Minera Andes is a gold, silver and copper exploration company working in Argentina. The Corporation holds or has an interest in approximately 304,000 acres of mineral exploration land in Argentina, including the properties comprising the 49% owned San Jos� silver/gold mine. Minera Andes is also exploring the Los Azules copper project in San Juan province, where a scoping study has been completed and a 43-101 technical report filed. Other exploration properties, primarily silver and gold, are being evaluated in southern Argentina. The Corporation presently has 230,538,851 shares issued and outstanding.

Allen V. Ambrose, Minera Andes' President, who is an appropriately "qualified person" as defined by National Instrument 43-101, has supervised the preparation of the information in the news release.

This news is submitted by Allen V. Ambrose, President and Director of Minera Andes Inc.

Caution Concerning Forward-Looking Statements:
This news release contains forward-looking statements and forward-looking information within the meaning of applicable US and Canadian securities laws. Such forward-looking statements or information include expected production at MSC's San Jos� Project. In making the forward-looking statements and providing the forward-looking information, we have made numerous assumptions. Although our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements will prove to be accurate. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from that expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include among other things, declines in the price of gold, silver, copper and other base metals, capital and operating cost increases, changes in general economic and business conditions, including changes in interest rates and the demand for base metals, economic and political instability in Argentina, discrepancies between actual and estimated production and mineral reserves and resource, operational and development risk, and the speculative nature of mineral exploration and regulatory risks.

Readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See our annual information form for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. All forward-looking statements and information made in this news release are qualified by this cautionary statement. Minera Andes' joint venture partner, a subsidiary of Hochschild Mining plc, and its affiliates do not accept responsibility for the use of project data or the adequacy or accuracy of this release.

Cautionary Note to U.S. Investors:
The United States Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits with "mineral reserves" that a company can economically and legally extract or produce. We use certain terms in this news release, such as "mineral resources", that the SEC guidelines strictly prohibit us from including in our filings with the SEC, because these terms are common usage in Canada and form part of our Canadian filing requirements. U.S. Investors are urged to consider closely the disclosure in our Form File No. 40F, which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.


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