ANDINA MINERALS INC. 
By
reported that it has issued, in accordance with its annual
compensation review process, a total of
1,850,000
incentive
share options to directors, officers, employees
and consultants under the
Company's share option plan. The options are exercisable
into common shares of Andina at CAD$0.93 per share and have a
five year term.
Effective
January 1,
2012, the Company has
also approved the issuance, in accordance with the
employment agreement of its newly appointed Chief Operating
Officer, of 300,000 incentive share options under the
Company's share option plan. These options are exercisable
into common shares of Andina and have a five year term.
Andina's
primary focus is mining
exploration
and development in
Chile. The Company's flagship
development project
Maricunga Gold Belt.
is the 100%?owned Volcan Gold Project, strategically located
in the prolific
In February 2011, Andina announced the results of a positive
pre?feasibility study for Volcan. Initial Proven and Probable
Mineral Reserves are 6.6 million ounces of gold at an average
grade of 0.73 g/t contained in 283 million tonnes of ore. In
addition, there remains 2.4 million ounces of Measured and
Indicated gold resources at an average grade of 0.68 g/t
contained in 110 million tonnes of ore plus 1.5 million
ounces of gold in the Inferred category contained in 73
tonnes of ore at an average grade of 0.65 g/t Au.
Andina is progressing with a feasibility study and EIA
submission for Volcan, targeted for completion in the first
half of 2012.
In addition to Andina's extensive underexplored land position
surrounding Volcan, the Company holds two other mineral
properties located within Chile's primary mining regions.
For further information please contact:
President & CEO
416 203 3488
Chief Financial Officer
416 203 3488
Or visit the Company's website at www.andinaminerals.com.
56 Temperance Street - Suite 300, Toronto, ON, Canada M5H 3V5
Tel: 416 203 3488 Fax: 416 203 3438 www.andinaminerals.com
Forward?Looking Statements
This press release contains forward?looking information
within the meaning of applicable Canadian securities laws and
regulations. Such information is based on the current
expectations and beliefs of Andina's management and is
subject to a number of risks and uncertainties that may cause
the actual
results to differ materially from
those described above.
Forward?looking information in this
press
release includes, but is not limited to, statements with
respect to the completion of the feasibility study
and EIA,
permitting
timelines,
government
regulation
of exploration and mining operations,
environmental risks, title disputes or claims, limitations on
insurance coverage, timing and possible
outcomes
of any pending litigation and timing and results of
future
resource estimates or
future
economic studies. Often, but not always, forward?looking
information can be identified by the use of
words such as "plans", "planning", "planned", "expects",
"looking
forward", "does not expect",
"continues", "scheduled", "estimates", "forecasts",
"intends", "potential", "anticipate", "does not anticipate",
or "belief", or describes a "goal", or variations of such
words and phrases or state that certain actions, events or
results "may", "could", "would", "might" or "will" be taken,
occur or be achieved.
The forward?looking information contained in this press
release is based on a number of material factors and
assumptions, including, but not limited to, that estimates
and studies are accurate, that Andina's mining operations
continue in the ordinary course and as expected, that
contracted parties provide goods and/or services on the
agreed time frames, that the equipment necessary for
exploration and development work is available as scheduled,
availability of water for milling and mining, that no labour
shortages or delays are incurred, that plant and equipment
function as specified, Andina's ability to obtain adequate
financing when and as needed, the continued favourable market
for gold at prices at or above estimated levels, that no
unusual geological or technical problems occur, that no
unusual or unexpected events have a material adverse effect
on Andina's operations or financial condition, and such other
assumptions and factors as set out herein.
Forward?looking information involves known and unknown risks,
future events, conditions, uncertainties and other factors
which may cause the actual results, performance or
achievements to be materially
different
from any future results, projection,
forecast, performance
or achievements expressed or
implied by the forward?looking information. Such factors
include, among others, the interpretation and actual results
of current exploration activities; changes in project
parameters as plans continue to be refined; future prices of
gold; possible variations in grade or recovery rates; failure
of equipment or processes to operate as anticipated; the
failure of contracted parties to perform; labour disputes and
other risks of the mining industry; delays in obtaining
governmental approvals or financing or in the completion of
exploration, as well as those factors disclosed in the
company's publicly filed documents. Although Andina has
attempted to identify important factors that could cause
actual actions, events or results to differ materially from
those described in forward?looking statements, there may be
other factors that cause actions, events or results not to be
as anticipated, estimated or intended. There can be no
assurance that forward?looking information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements.
Accordingly, readers should
not place undue reliance on forward?looking information.
Andina does not undertake any obligation to
56 Temperance Street - Suite 300, Toronto, ON, Canada M5H 3V5
Tel: 416 203 3488
Fax: 416 203 3438 www.andinaminerals.com
update or revise publicly any forward?looking information
whether as
a result of new information,
future events or otherwise, unless required to do so by
applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Andina Minerals Inc.56 Temperance Street - Suite 300, Toronto, ON, Canada M5H 3V5
Tel: 416 203 3488 Fax: 416 203 3438 www.andinaminerals.com
| distribué par | Ce noodl a été diffusé par Andina Minerals Inc. et initialement mise en ligne sur le site http://www.andinaminerals.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2011-12-08 03:21:42 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
| Documents associés | |
| Andina Annual Compensation Stock Option Award |
