December 19, 2007
Vancouver, BC - Los
Andes Copper Ltd. ("Los Andes", or the "Company", TSX
Venture Exchange: LA) is pleased to announce a non-brokered private
placement of 1,000,000 units at a price of $0.50 per unit for gross
proceeds of $500,000. Each unit is comprised of one common share and
one-half of one share purchase warrant. Each warrant will entitle the
holder to acquire one additional common share of the Company at a price of
$0.75 for a period of one year from the date of issuance. There will be 7%
finder's fees payable in connection with the private placement, payable in
cash.
The proceeds of the
private placement will be used by the Company towards the financing of the
Company's phase two drilling program on the Vizcachitas copper-molybdenum
project located in Region V, Chile, to assist with the funding of the
acquisition of consumptive water rights in the San Felipe area and for
general working capital purposes.
The private placement
is subject to acceptance by the TSX Venture Exchange.
About Vizcachitas
The Vizcachitas Project
offers potential for a low strip, open pit operation in an area of low
elevation with excellent infrastructure, including water and power in
central Chile. The Vizcachitas deposit occurs in the same metallogenic belt
as the large copper-molybdenum porphyries Rio Blanco-Los Bronces, Los
Pelambres-El Pachon and El Teniente. Based on 68 drill holes
previously completed by General Minerals Corporation and Placer Dome, the
project contains an indicated resource of 232 million tonnes grading 0.46%
copper and 0.014% molybdenum and an inferred resource of 619 million tonnes
grading 0.38% copper and 0.013% molybdenum at a 0.30% copper cutoff.
At a 0.4% cutoff, indicated resources total 144 million tonnes grading
0.52% copper and 0.015% molybdenum and inferred resources total 211 million
tonnes grading 0.46% copper and 0.016% molybdenum as detailed in the
NI43-101 compliant technical report of A.C.A. Howe International Limited dated February 7, 2007.
The technical report, as well as additional information about the
Vizcachitas Project is available on our website at www.losandescopper.com .
For more information please
contact:
Roger Moss,
President Tel:
416-516-6050 or
Michael Kuta, Corporate Secretary
Tel: 604-697-6201
E-Mail: info@losandescopper.com
Or visit our website at: www.losandescopper.com
This document contains certain forward looking statements which
involve known and unknown risks, delays and uncertainties not under the
Company's control which may cause actual results, performance or
achievements of the Company to be materially different from the results,
performance or expectation implied by these forward looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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