Andean American Engages Paradigm Capital to Provide Strategic Financial Advisory Services

Andean American Gold Corp. ("Andean American" or the "Company") (TSX
VENTURE:AAG)(FRANKFURT:AQN) reports that, further to the announcement made on
October 28, 2011 regarding the strategic review of the Company's assets and
operations, it has retained Paradigm Capital Inc. ("Paradigm Capital"), as its
financial advisor to identify and conduct an analysis of the strategic
alternatives available to the Company.


The management and Board believe that the current market presents various merger
and acquisition opportunities and that Paradigm Capital is well positioned to
assist with the identification and assessment of the opportunities which will
maximize value for the Company's shareholders.


"We are fairly flexible as to the nature and structure of the transactions which
may be recommended by Paradigm Capital, provided that they are in the best
interests of our shareholders and present a solid platform for value growth,"
said David Rae, President and CEO of Andean American.


Andean American does not intend to disclose developments with respect to the
strategic review process unless and until its Board of Directors has approved a
definitive transaction or other course of action or otherwise deems that
disclosure of developments is appropriate. There can be no assurance that any
transaction will occur, or if a transaction is undertaken, as to its terms or
timing.


About Andean American 

Andean American is an international mining and exploration company focused on
value growth through the development of gold and copper projects in Peru and
currently has two key assets: the 31,600 hectare Invicta gold-silver-copper
advanced exploration stage project and 65% of Sinchao Metals Corp., owner of the
Sinchao gold-silver-copper exploration project. In addition, the Company is
actively targeting early stage precious metals and copper prospects in Peru.


For further information about Andean American, please visit the Company's
website at www.AAGgold.com.


On behalf of Andean American Gold Corp.,

David Rae, President and Chief Executive Officer

Forward Looking Information

This news release may contain forward-looking information within the meaning of
the Securities Act (Ontario) ("forward-looking statements"). Such
forward-looking statements may include the Company's plans for its mineral
projects, the overall economic potential of its properties, the availability of
adequate financing and involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements
expressed or implied by such forward-looking statements to be materially
different. Such factors include, among others, risks and uncertainties relating
to potential political risks involving the Company's operations in a foreign
jurisdiction, uncertainty of production and costs estimates and the potential
for unexpected costs and expenses, physical risks inherent in mining operations,
currency fluctuations, fluctuations in the price of gold and other metals,
completion of economic evaluations, changes in project parameters as plans
continue to be refined, the inability or failure to obtain adequate financing on
a timely basis, and other risks and uncertainties, including those described in
the Company's Financial Statements, Management Discussion and Analysis and
Material Change Reports filed with the Canadian Securities Administrators and
available at www.sedar.com.

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