TORONTO, May 10 /PRNewswire-FirstCall/ -- Geoandina Mining Corp. (OTC:GODN), a junior mining company is pleased to announce that it is finalizing negotiations with a potential property 50 miles from the city of Mendoza. The Company has also commenced searching for a more advanced and modern center of operations within the city of Mendoza. The area has an international airport and all the modern facilities for communication, heavy machinery purchases/rentals, equipment, transportation and all other mining necessities. "The target property is called Cerro Negro, which has been in low-scale artisan production over many years, but, will require much further testing and exploration." said Mr. Jonathan Hagen, President and CEO of Geoandina Mining Corp. "During our negotiations, we have discussed and reviewed all technical data in relation to this property. A Preliminary Geologic Report was produced several years ago. Our team is prepared to follow up on the report and produce our very own Preliminary studies, once we finalize the Letter of Intent. We will be happy to release all pertinent information once it becomes available." The Company believes that the Letter of Intent should be completed within the following week. About Geoandina Mining Corp. Geoandina Mining Corp. is a publicly traded mining holding company, trading under the ticker symbol GODN on the US Pink Sheets market. The Company will continue to acquire proven gold and precious metal reserves throughout South America and operate through a variety of strategic methods such as acquisitions, joint ventures, or partnerships. The Company's initial target is Argentina, a country with tremendous growth perspective. The Argentine mining sector is extremely encouragement and high in potential. With a surface of over two million square kilometers, it is very rich in mining resources. In fact, the Mining Journal Survey has ranked Argentina sixth in the world in mining resource potential, ahead of high gold producing countries such as Mexico, Colombia, and Bolivia. FORWARD-LOOKING STATEMENTS: Statements contained in this news release, which are not historical facts, are forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 that involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things: volatility and sensitivity to market prices for coal; replacement of reserves; procurement of required capital equipment and operating parts and supplies; equipment failure; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; imprecision in reserve estimates; success of future exploration and development initiatives; competition; operating performance of the facilities; environmental and safety risks including increased regulatory burdens; seismic activity, weather and other natural phenomena; failure to obtain necessary permits and approvals from government authorities; changes in government regulations and policies including tax and trade laws and policies; ability to maintain and further improve positive labor relations; and other development and operating risks. Although Geoandina believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this report. The company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. DATASOURCE: Geoandina Mining Corp. CONTACT: Jonathan Hagen of Geoandina Mining Corp., +1-905-688-3986 Web site: http://www.geoandina.com/

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