SPOKANE, Wash., May 9, 2005 (PRIMEZONE) -- Minera Andes, Inc. (TSX-V:MAI) (OTCBB:MNEAF) is pleased to announce that the ongoing exploration program at the San Jose project has identified several kilometers of new geophysical drill targets. Previous drill testing of geophysical targets on the property has identified quartz veins in all of the holes drilled for a 100 percent success rate.
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Recent geophysical surveys at the San Jose project, an advanced exploration and construction project, have revealed several new vein targets to be drilled this year once the resource/reserve drilling is completed next month. So far this year at the San Jose project six drill rigs have completed over 25,000 meters of core drilling designed to convert resources to reserves and define additional reserves and resources. This work is being conducted by Minera Santa Cruz a company that is jointly owned by Minera Andes (49 percent) and its joint venture partner, Mauricio Hochschild & Cia. Ltda. ("MHC"), of Lima, Peru, the operating partner and 51 percent owner of the project.
This year a total of 220 line kilometers of gradient array induced polarization geophysical surveys have been completed by Quantec Geoscience at the property. Over 4 kilometers of geophysical chargeability targets have been identified in five parallel trends (see attached map). Several of the targets remain open to the south. The primary target is a coincident chargeability and resistivity anomaly over one kilometer long situated 0.75 km east of the Frea vein currently under reserve definition drilling. The high-grade Frea vein was discovered over a year ago by drilling a similar geophysical anomaly. The targets are scheduled for drilling as part of an 8,000 meter program scheduled for the second half of this year.
Allen V. Ambrose, president of Minera Andes, said, "The new exploration at the San Jose project continues to deliver strong results and reveals new high quality drill targets that have a good chance for discovery success."
Minera Andes is a gold, silver and copper exploration company working in Argentina. The corporation is funded with working capital of about US$6.2 million and a pending credit facility of up to US$2 million for feasibility study completion and underground construction at its advanced-stage silver/gold project in Santa Cruz province. Minera Andes holds about 500,000 acres of mineral 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 90,084,719 issued and outstanding shares.
Submitted on behalf of the Board of Directors by Allen V. Ambrose, President and Director.
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. 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 be successfully 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.