SPOKANE, Wash., Sept. 21, 2004 (PRIMEZONE) -- Minera Andes Inc. (TSX Venture Exchange:MNEAF) (OTCBB:MNEAF) has hired accounting and engineering/mine development professionals to provide input on Minera Andes' interests as the Huevos Verdes high-grade gold/silver project in southern Argentina moves on the road to production.
Allen V. Ambrose, president, said, "The Huevos Verdes project is rapidly advancing and Minera Andes is maturing as a company making it important to augment our management team with specialized professional expertise to ensure timely advancement of the project. We are pleased to welcome Mr. Koval and Mr. Moore to our growing company."
James H. Moore, a mining industry accounting and finance professional, and Marshall A. Koval, P.G., a mining management/engineering consultant, have been retained to oversee Minera Andes' numerous accounting/finance and mine development/operation issues that are part of an advanced-stage exploration project entering into the development stage.
Mr. Moore has over 30 years senior financial management experience in the mining sector. He is currently Chief Financial Officer for Mines Management, Inc. As Vice President of Finance for Barrick Chile he directed financial operations for Barrick Gold Corporation's Latin subsidiary and was a Director for Refimet Refinery. He also served in executive positions for RAHCO International, Inc. of Spokane, an international manufacturer of specialized mining and excavating equipment.
Mr. Koval, a registered professional geologist, has international experience as a mining/engineering management professional emphasizing engineering, "Bankable" feasibility studies, environmental matters, and mining industry finance issues. Mr. Koval was president of the engineering consulting firm, Pincock Allen & Holt, where he has completed numerous finance due diligence assignments for international banks throughout South America. In addition he has worked in the Americas on more than 100 mining-related projects in 18 countries.
Minera Andes is funded with working capital of approximately US$5.0 million for its exploration and underground construction programs. Minera Andes is a mining exploration company focused on gold, silver and copper exploration in Argentina where it holds about 200,000 hectares (500,000 acres) of mineral exploration land and co-owns the advanced stage San Jose/Huevos Verdes gold/silver project now under construction for possible mine production, with a feasibility study underway. Minera Andes has also discovered an enriched copper zone at its Los Azules property, and is acquiring other exploration targets in southern Argentina. The Corporation presently has 70,361,490 issued and outstanding shares.
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.
Spokane Office Vancouver Office 111 East Magnesium Rd., Suite A 1000-355 Burrard Street Spokane, WA 99208 USA Vancouver, B.C. V6C 2G8 Phone: (509) 921-7322 Phone: (604) 689-7017; 877-689-7018 E-mail: mineraandes@minandes.com E-mail: ircanada@minandes.com
FORWARD-LOOKING STATEMENT -- Although Minera Andes believes many of its properties have promising potential, its properties are in the early stages of exploration. None have yet been shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on any property, or that, if identified, mineralization may be economically extracted. In addition, Minera Andes' joint venture partner, Mauricio Hochschild & Cia. Ltda., does not accept responsibility for the use of project data or in the adequacy or accuracy of this release.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.