Exhibit 99.1
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ANDRESMIN ACHIEVES PROACTIVE
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LIMA, PERU, December 17, 2004 - Andresmin Gold Corporation ("Andresmin" or the
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"Company") (NASD OTC-BB: "ADGD") is pleased to announce it has reached a
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definitive agreement with the community of Pisquicocha, located in the
department of Cusco in southern Peru and home to the Company's Winicocha
copper-gold project. Under the terms of the agreement, the community grants
Andresmin the right to continue to explore and develop Winicocha for an initial
five-year period.
Andresmin is a socially and environmentally responsible company, and has a
policy of educating the communities in which it operates in a responsible
manner. To this end, the Company presented several exploration and mining
videos, distributed literature, and arranged mine site tours to Pisquicocha
locals over a five-month period. The community has discussed the opportunity and
impact of exploration and mining with the Company, other communities, other
mining companies and their employees, and the Peruvian government Regional
Director of Energy and Mines, Xx. Xxxxx Vildivia.
"This is a historic and important agreement," says Mr. Vildivia. "It shows what
can be achieved when local communities and exploration companies co-operate and
come to a mutually beneficial consensus."
Andresmin will continue its social development programs within the community and
make annual payments to the community for the initial five-year period.
Xx. Xxxxxxx Xxxxx, President of the Pisquicocha community, says, "Our community
has largely been neglected by the government. By partnering with Andresmin we
can share in their success and become more independent. We see the benefits of
exploration and believe it will contribute to a significant improvement to the
health, education, and overall standard of living for our community. We
appreciate the genuine approach of Andresmin and thank them for their past and
future employment opportunities."
"This is an excellent agreement for Andresmin and our shareholders," says
Andresmin President Xxx Xxxxxx. "It is a wonderful beginning for our company and
the community, for what we trust is a long and beneficial relationship."
About Andresmin Gold Corporation
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Andresmin is committed to building shareholder value through the acquisition,
exploration, and development of high quality mineral projects in the prime
Central Andes region of South America, which annually produces 42% of the
world's copper (over $18 billion each year). The Company has an impressive
property portfolio with nine projects of merit encompassing 16,400 hectares of
strategically located and highly prospective ground. The Winicocha copper-gold
project in southern Peru is Andresmin's flagship project. Centromin reports
Winicocha hosts an inferred reserve of 1.4 million ounces of gold, thought to be
near surface expression of a much larger underlying copper-gold porphyry
deposit. Recent sampling found a geochemical anomaly with grades ranging to 1.0%
copper and 5.0 grams per tonne gold, and coincident geophysics has outlined
three large anomalies. Exploration is ongoing on all projects. Andresmin trades
under the symbol ADGD on the NASDAQ over-the-counter bulletin board.
For further information please contact:
Resourcex Group:
Toll (000) 000-0000
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xxxxxxxx@xxxxxxxxx.xxx
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xxx.xxxxxxxxx.xxx
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THIS NEWS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING XX
XXXXXXX 00X XX XXX XXXXXX XXXXXX SECURITIES ACT OF 1933, AS AMENDED, AND XXXXXXX
00X XX XXX XXXXXX XXXXXX SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH
RESPECT TO ACHIEVING CORPORATE OBJECTIVES, DEVELOPING ADDITIONAL PROJECT
INTERESTS, ANDRESMIN'S ANALYSIS OF OPPORTUNITIES IN THE ACQUISITION AND
DEVELOPMENT OF VARIOUS PROJECT INTERESTS AND CERTAIN OTHER MATTERS. THESE
STATEMENTS ARE MADE UNDER THE "SAFE HARBOR" PROVISIONS OF THE UNITED STATES
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS AND
UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE
IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.
