AndeanGold Reports Phase 1 Drill Results on Rio Seco Project, Peru

AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE:AAU) is pleased to
report on the Phase 1 Drilling Program (the "Program) on the Company's Rio Seco
Project (the "Project") in Peru. The Program entailed the drilling of eleven
(11) reverse circulation holes, for a total of 1,398 metres. All holes were
successfully drilled as planned. The holes ranged from 100 m to 156 m in
inclined length and from 84 m to 141 m vertically from surface. The Program was
designed to test the depth, strike extent and grade of the 600x100 m stockwork
target to an average depth of approximately 100m, as a follow up to the
encouraging assay results from the 2008 and 2009 trenching programs (See news
releases of April 20, 2009 and May 12, 2009), which identified the stockwork
target area as a potential open pit, bulk mineable, heap leach mineral resource,
if economic grades were present. 


Highlighted drill hole intercepts included the following:



--------------------------------------------------------------------------
DRILL                   FROM         TO    INTERVAL      AU      AG    AUE
HOLE                 (metres)   (metres)    (metres)    G/T     G/T    G/T
--------------------------------------------------------------------------
RSDH01                    38         52          14    1.33   22.69   1.68
 Including                44         48           4    4.14   64.75   5.13
                         122        124           2    0.59   12.10   0.78

RSDH02                     0          6           6    0.40    7.20   0.51

RSDH03                     8         30          22    0.62   11.22   0.79
 Including                 8         18          10    1.02   10.46   1.18
 Including                24         28           4    0.56   28.70   1.00

RSDH04                    10         14           4    1.12    2.70   1.16
                          54         74          20    0.59    5.53   0.67
 Including                56         58           2    1.90    6.40   2.00
 Including                66         74           8    0.80    9.60   0.95

RSDH05                     8         24          16    1.02   13.49   1.22

RSDH06                     0         14          14    1.15    7.17   1.26
 Including                 8         12           4    3.72   19.75   4.02

RSDH07                    26         30           4    0.82   18.75   1.10

RSDH08                    40         44           4    1.25    9.50   1.39

RSDH09                   110        124          14    0.53   15.20   0.77

RSDH10                    24         28           4    0.39    3.25   0.44

NOTE:  AUE=Gold Equivalent based on a silver to gold price ratio of 65:1
           and assuming 100% metallurgical recoveries.
       RSDH11 did not contain any significant intercepts.
----------------------------------------------------------------------------



The trenching programs outlined several sizeable mineralized lenses within the
stockwork target containing higher concentrations of veining and better gold
values. These lenses appeared to be distributed en echelon style along the
stockwork trend, with four better defined lenses identified along the eastern
side, which were exposed in outcrops by the access road that runs through the
Project and which is where the majority of the trenching programs took place.
Based on the trenching results and the Company's related geological model, there
were also indications of additional mineralized lenses within the remaining 75m
width of the stockwork target to the west which is poorly exposed and deeply
weathered and, therefore, less amenable to detailed evaluation by surface work.
Based on the assay results from the 2008 and 2009 trenching programs, the four
exposed lenses had a combined strike length of 580m, an approximate width of
25m, and an average indicative grade of 1.02 g/t AUE, based on averaging all
channel and outcrop samples within each lens.


The Phase 1 drill collars were located along the western side of the access
road, where the majority of the trenching had taken place. In general, the holes
were drilled along the N-S strike of the exposed mineralized lenses (RSDH01, 02,
04, 05 and 10), to the west in order to test for the inferred parallel
mineralized lenses under the hill (principally, RSDH03 and 06) or a combination
thereof. 


While the majority of the drill holes intersected the veins as projected from
the surface mapping and the average AUE grades of the veins in the drill holes
were similar to the trench assays (+/- 1.0 g/t AUE), the assay results for the
areas surrounding the veins were below the trench assay results. The assays for
these holes were all of low grade. Based on the drilling results, it appears
that the mineralized lenses are primarily confined to the 580 x 25m area along
the access road that was previously mapped and trenched. The Phase 1 drilling
results do not support a potential bulk mineable target to the west. 


FUTURE EXPLORATION / DEVELOPMENT PROGRAMS:

Given the location of the Phase 1 drill collars and direction of the drill
holes, there were no drilling tests of the exposed mineralized lenses over the
full eastern extension of the shear zone. The Company is analyzing whether to
conduct a limited drill program to test the full eastern extent of the 580 x 25m
mineralized area.


The Company also intends to further review the underground mining potential of
the Project's vein targets and whether they might support a series of
small-scale mines with a centralized processing plant. To date, four mineralized
zones and ten main vein systems have been identified. The principal mineralized
zone is the West Zone, which lies within a shear zone created by two major N-S
faults. In addition to the stockwork target, the West Zone also contains several
vein targets, which exhibit underground mining potential (See Rio Seco Project
Map, http://www.andeangoldltd.com/s/RioSeco.asp).


VEIN TARGETS:

The vein targets are located south of the stockwork target and along the strike
of the shear zone. A multiple vein target ("MVT"), located contiguous with and
south of the stockwork target, contains numerous past artisanal mine workings,
and the Company has sampled both old adits (5 to 160m in length) and surface
outcrops. The two principal vein structures that occur in the MVT, Vein 3 and
Vein 4, both have an approximate strike length to date of 200m. Overall, the
weighted average assay results for the 31 Vein 3 channel samples were:


4.81 g/t Au, 41.7 g/t Ag, 0.51% Cu

These results were over widths ranging from 0.30 - 10.00m, with an average width
of 1.94m.


The weighted average assay results for the 54 channel samples taken from Vein 4
were of a lower tenor than Vein 3, as follows:


1.16 g/t Au, 14.4 g/t Ag, 0.21% Cu

These results were over widths ranging from 0.11 - 3.00m, with an average width
of 0.90m 


Approximately 300m south of the MVT, an additional new mineralized target area,
Gabriel, containing several quartz veins and veinlets, was discovered during the
2009 mapping and trenching programs. This target is also aligned with the major
shear structure. Overall, 21 continuous channel samples of veins from the
Gabriel target returned assay results ranging from:


0.22 - 10.97 g/t Au over widths ranging from 0.18 - 4.00m

A second mineralized zone, the South Zone, is located to the south of the
Gabriel target and along the southern portion of the shear zone. To date, two
gold-bearing veins have been identified with strike lengths of approximately 300
metres, and the Company has only conducted limited sampling of the veins with
assays results from 4 continuous channel samples ranging from:


13.90 - 33.76 g/t Au, 3.0 - 13.10 g/t Ag over widths ranging from 0.10 - 0.20m

Quality Assurance / Quality Control:

AndeanGold has put in place a detailed QA/QC program consistent with Canadian
Securities Administrators National Instrument 43-101 and using best industry
practices. The program includes chain of custody of samples, and standards and
blanks submitted to the independent Inspectorate Lab in Lima Peru with each
batch of samples. The results of the QA/QC program to date have been
satisfactory.


Dr. William F. Lindqvist, a director of AndeanGold, is the Qualified Person in
compliance with National Instrument 43-101 with respect to this release.


About AndeanGold Ltd.:

AndeanGold Ltd. is engaged in the acquisition, exploration and potential
development of primarily precious metals properties, principally in Peru and
Ecuador. The focus of the Company's exploration activities is presently in
advancing its Rio Seco Project, as well as pursuing mineral property
acquisitions, in Peru. In Ecuador, the Company's activities have been limited to
administrative and legal matters due to the Mining Mandate issued by the Ecuador
Constituent Assembly on April 18, 2008. On November 4, 2009, President Correa
signed the Mining Regulations into law pursuant to the requirements of the new
Mines Law, which was passed in January 2009. This was the final legal precursor
to the re-initiation of exploration and mining development in Ecuador. The
Company has filed the requisite documents with the Ministry of Non-Renewable
Natural Resources in support of the Company's request to renew exploration
programs on its key projects in Ecuador. The Company looks forward to working
with government officials to this end.


Please refer to AndeanGold's website at www.andeangoldltd.com for further
information on the Company's projects and activities.


On Behalf of the Board of Directors of ANDEANGOLD LTD. 

Anthony F. Ciali, President, CEO and Director
Maxtech Ventures (TSXV:MVT)
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