Spokane, Washington - July 29, 2008 - Minera Andes Inc. (TSX: MAI; US OTC: MNEAF) is pleased to report that Richard P. Clark, president and CEO of Red Back Mining Inc, a Lundin Group company, of Vancouver, B.C., has joined the board of directors of Minera Andes Inc. His appointment represents an expansion of the board to seven members.
"It is a pleasure to welcome Rick to the Minera Andes board," said Allen V. Ambrose, president. "He has the background in South American mining, project finance and development that compliments our plan to grow the Company. As Minera Andes completes its first year of production and cash flow from its San Jos� gold/silver mine in Argentina, and pursues its major copper opportunity at Los Azules, Rick's professional skills are a welcome addition to our board."
A mining professional with more than 20 years experience, Mr. Clark is a mining lawyer who has wide ranging business experience in the mining sector from managing exploration companies to developing mines into emerging mid-tier producing companies with projects Latin America and Africa. Mr. Clark has grown Red Back from a market capitalization of $40 million to over $1.5 billion.
Minera Andes is a gold, silver and copper exploration company working in Argentina. The Company holds about 304,000 acres of mineral exploration land in Argentina including the 49% owned San Jos� silver/gold mine that has commenced production last year. Minera Andes is also exploring the Los Azules copper project in San Juan province, where an exploration program is underway to define a resource and scoping study. Other exploration properties, primarily silver and gold, are being evaluated in southern Argentina. The Corporation presently has 189,456,935 shares issued and outstanding
This news is submitted by Allen V. Ambrose, president and director of Minera Andes Inc.
For further information, please contact: Art Johnson at the Spokane office, or Krister A. Kottmeier, investor relations - Canada, at the Vancouver office. Visit our Web site: www.minandes.com.
111 East Magnesium Rd.,
Spokane, WA 99208 USA
Phone: (509) 921-7322
Suite 911 - 470 Granville St,
Vancouver, BC. V6C 1V5
Phone: (604) 689-7017 / 877-689-7018
Caution Concerning Forward-Looking Statements:
This press release contains certain "forward-looking statements", including, but not limited to, the statements regarding the Company's strategic plans, evolution of mineral resources and reserves, work programs, development plans and exploration budgets at the Company's San Jos� Project. Investors should be aware that the introduction of new technology such as ILR can create added risk in achieving metallurgical performance. The forward-looking statements express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. In particular, there can be no assurance that commercial production at the San Jos� mine will be achieved on a timely basis, or at all, that production capacity at the San Jos� mine will be successfully increased, that resources and reserves at the San Jos� mine will be increased or that Minera Andes will successfully raise the funds necessary to maintain its interest in the San Jos� mine. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral reserves and other risks. We refer readers to the risk factors and uncertainties described in the Company's continuous disclosure record, a copy of which is available under the Company's profile at www.sedar.com. 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 press 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.
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