SPOKANE, Wash., Nov. 10, 2004 (PRIMEZONE) -- Minera Andes Inc. (TSX-Venture Exchange:MAI) (OTCBB:MNEAF) has begun its spring/summer reconnaissance exploration program for new silver/gold discoveries in Santa Cruz province, Argentina.
Allen V. Ambrose, president, said "We are continuing to focus our exploration in Santa Cruz province. We have developed an excellent database in this largely unexplored but highly prospective region. Our exploration potential is substantial because over time we have acquired about 20 silver/gold prospects in Santa Cruz which justify more advanced exploration. One of our original discoveries in Santa Cruz is the Huevos Verdes high-grade silver/gold target now in advanced construction and feasibility for possible mine production."
Minera Andes' goal is to locate new discoveries of regional size, rather than simply find extensions of known mineralized systems. An aggressive exploration program is underway now with four geologists conducting mapping, sampling and surveying on silver/gold-bearing areas.
The Company's exploration program for Santa Cruz uses satellite imaging processed to enhance hydrothermal alteration. Fixed-wind aerial reconnaissance is also used, followed by in-field geologic evaluation. Minera Andes' geologists are seeking structures defined by mineralized veins similar to those known to exist at the Company's co-owned San Jose property where Huevos Verdes is located, and Anglo Ashanti Gold's Cerro Vanguardia silver/gold mine about 200 kilometers to the southeast. Geologists are targeting structures that exhibit outcropping alteration and mineralization exposed at a high level above a possible ore grade gold/silver horizon.
Minera Andes' reconnaissance exploration program includes a Santa Cruz exploration drilling program which began November 8, when a six-hole, 1,200-meter diamond drilling program began at Minera Andes' 100 percent owned El Trumai gold/silver discovery.
Minera Andes is a gold, silver and copper exploration company working in Argentina where it made new discoveries for all three metals in 2004. The Company is funded with working capital of about US$3.2 million and a pending credit facility of up to US$4.0 million for feasibility completion and underground construction at its advanced-stage silver/gold project in Santa Cruz province. Minera Andes holds about 500,000 acres of exploration land in Argentina, including the co-owned Huevos Verdes/San Jose silver/gold project now under construction and feasibility consideration for possible mine production. 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 71,139,060 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;
E-mail: mineraandes@minandes.com (877) 689-7018
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 maybe economically extracted. There can be no assurance that the San Jose/Huevos Verdes gold/silver project will be found to be economically feasible or that a mine will successfully be constructed. In addition, Minera Andes' joint venture partner, Mauricio Hochschild & Cia. Ltda., does not accept responsibility for the use of project data or 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.