EXHIBIT 99.5
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XXXXXXXXX ACQUIRES RIGHTS TO EXPLORE AND DEVELOP THE CLAVELLA
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2 CLAIM BLOCK
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November 2, 2004 - Andresmin Gold Corporation ("Andresmin" or the "Company")
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(NASD OTCBB: "ADGD") is pleased to announce that the Company has acquired the
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rights to explore and develop the Clavella 2 claim block within the northern
boundaries of the Company's Winicocha Property. The Clavella 2 claim block
represents an area previously identified by geophysical testing that Xxxxxxxxx
believes has the potential to host an ore body of significant size. The Clavella
2 claim block was acquired from a private Peruvian mining prospector.
The geophysical anomaly is a very large electrically conductive body with a
strong peripheral magnetic zone. This indicates the presence of a large ore body
with high electrical conductivity suggesting the presence of gold, copper, and
other conductive metals. Sampling within the Clavella 2 claim returned ore-grade
values of up to +1% Copper, 0.02% Molybdenum and up to 4 grams per tonne Gold.
This additional claim block adds significant value to the Winicocha Property
because it gives Xxxxxxxxx full and complete access to all areas with
development potential.
Xxx Xxxxxx, the President of Xxxxxxxxx states, "This is a key addition to the
Andresmin portfolio. We are very excited by the potential of the Winicocha
Project. This area is the primary focus for our exploration team as we prepare
and prioritize drill targets for early 2005."
The Winicocha Copper Gold Molybdenum porphyry lies within a rich mineralized
belt in southern Peru. There are four significant porphyry deposits within 80 km
of Winicocha representing over $26 billion worth of gross copper value; they
are: BHP Billiton's Tintaya Mine with +200 million tonnes at +1.5% Copper; BHP
Billiton's Antapaccay deposit with 420 million tonnes at 0.83% Copper;
X-Strata's Las Xxxxxx project which Centromin states has +500 million tonnes
with in excess of 2% Copper potential; and Southern Peru Copper Corporation's
Las Chancas deposit with 200 million tonnes at 1% Copper, 0.07 %Molybdenum, and
0.12 grams per tonne Gold.
About Andresmin Gold Corporation
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Xxxxxxxxx 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 Xxxxxxxxx's flagship project. Centromin reports
Winicocha hosts 1.4 million ounces 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
xxxxxxxx@xxxxxxxxx.xxx
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THIS NEWS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF
SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION
21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH
RESPECT TO ACHIEVING CORPORATE OBJECTIVES, DEVELOPING ADDITIONAL PROJECT
INTERESTS, XXXXXXXXX'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.
