AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE:AAU)(LMA:AAU) is
pleased to announce that the Company has closed (the "Closing') the second
tranche of its previously announced $1 million non-brokered private placement
(the "Placement") (news releases of February 24, 2014 and March 25, 2014). The
first tranche of the Placement closed on February 28, 2014, and involved the
issuance of an aggregate of 11,796,000 Units to raise aggregate gross proceeds
of $589,800 (see news release of February 28, 2014). Pursuant to the Closing,
the Company issued an additional 2,011,643 Units to raise aggregate gross
proceeds of $100,582.15. 


Under the Placement, the Company has issued to date an aggregate of 13,807,643
Units at a price of $0.05 per Unit to raise aggregate gross proceeds of
$690,382.15. Each Unit consists of one common share and one share purchase
warrant. Each whole warrant will entitle the holder to purchase one additional
common share of the Company for a period of eighteen months from the respective
Closing of each tranche at a price of $0.07 per share. The Company anticipates
that additional tranche closings of the Placement will take place in April 2014.


In accordance with securities legislation currently in effect in Canada, the
shares and share purchase warrants will be subject to a "hold period" of four
months plus one day from the Closing of each tranche.


The Company will pay finders' fees with respect to the tranche offerings to date
in the aggregate amount of $46,226.74 and 924,535 warrants, each such warrant
entitling the holder to acquire one additional share of the Company at a price
of $0.07 for a period of eighteen months from the Closing of each tranche. 


The proceeds of the private placement will be used principally to fund option
payments and to initiate work on the Company's plan to develop a small-scale
mine on the Urumalqui Project in Peru, and for general working capital purposes.


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 Urumalqui 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. In November 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 been issued new mining titles under the new Mines law to its three
key Ecuadorian projects and has filed the requisite documents with the Ministry
of Non-Renewable Natural Resources and Ministry of Environment ("MRNNR") in
support of the Company's request to renew exploration programs on its key
projects in Ecuador. In September 2012, the Company received authorization from
the MRNNR to renew exploration programs on its Curiplaya Project.


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                                                 



Neither the 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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Corporate Office:
Tony Ciali, AndeanGold Ltd.
Phone: 732.940.5487
Email: tciali@andeangoldltd.com
Website: www.andeangoldltd.com


Investor Relations:
Jamie Mathers
Phone: 778.879.5084
Email: jsmathers6@gmail.com
Angold Resources (TSXV:AAU)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024 Click aqui para mais gráficos Angold Resources.
Angold Resources (TSXV:AAU)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024 Click aqui para mais gráficos Angold Resources.