Andean American Files Early Warning Report in Connection With Exercise of Warrants in Sinchao Metals Corp.

Andean American Gold Corp. ("Andean" or the "Company") (TSX
VENTURE:AAG)(FRANKFURT:AQN) has acquired, by the exercise of 2,222,222 warrants
of Sinchao Metals Corp ("Sinchao"), 2,222,222 common shares of Sinchao (the
"Transaction") at an exercise price of $0.12 per warrant. The shares acquired
pursuant to this Transaction represent approximately 2.48% of the issued and
outstanding common shares of Sinchao. The common shares were issued from
Sinchao's treasury. Upon completion of the Transaction Andean will hold
59,047,619 common shares of Sinchao, representing approximately 65.81% of
Sinchao's issued and outstanding common shares.


Andean entered into the Transaction for investment purposes and may increase or
reduce its investment in Sinchao according to market conditions or other
relevant factors. No person is acting jointly or in concert with Andean in
connection with the acquisition of the Securities.


A copy of the early warning report filed in connection with the transaction will
be made available on SEDAR (www.sedar.com) and may also be obtained from David
Rae, President and Chief Executive Officer (416-368-9500). 


About Andean American Gold Corp.

Andean 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 64.95% (65.81% once it has exercised its 2,222,222
warrants) of Sinchao Metals Corp., owner of the Sinchao gold-silver-copper
exploration project. 


For further information about Andean American Gold Corp. please visit the
Company's website at www.aaggold.com or view the Company's documents on SEDAR at
www.sedar.com.


On behalf of Andean American Gold Corp.,

David Rae, President and CEO

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