VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/20/12 -- AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE:AAU) announces that the term of the share purchase warrants issued on October 6 and 22, 2010, with an initial term of one-year, have been extended from their current extended expiry date of March 30, 2012 to July 31, 2012. The extension has been approved by the TSX Venture Exchange. A total of 6,250,000 non-transferable share purchase warrants (a "Warrant" or the "Warrants") were issued to subscribers of the private placement which closed on October 6 and 22, 2010. As originally issued, each Warrant entitled the holder to purchase one common share of the Company at the price of
.20 per share at any time up to 4:00 pm (Vancouver time) on October 6 and 22, 2011.
As a result of extension of the term of the Warrants, each Warrant now entitles the holder to purchase one common share of the Company at the price of
.20 per share at any time up to 4:00 pm Vancouver time on July 31, 2012. As at March 20, 2012, 701,850 Warrants held by subscribers to the private placement had been exercised.