VANCOUVER, BRITISH COLUMBIA --(Marketwired - Dec. 19, 2013 ) - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE:AAU)(LMA:AAU) is pleased to announce that it has closed (the "Closing") the final tranche of its previously announced $500,000 private placement (the "Placement") (see news release of August 22, 2013 ). In previous closings, the Company issued an aggregate of 7,200,000 Units to raise aggregate proceeds of $360,000 (see news release of November 25, 2013 ). Pursuant to the Closing, the Company issued an additional 1,000,000 Units to raise aggregate gross proceeds of $50,000 . Under the Placement, the Company has issued to date an aggregate of 8,200,000 Units at a price of $0.05 per Unit to raise aggregate gross proceeds of $410,000 . Each Unit consists of one common share and one-half 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 $0.10 per share. In accordance with securities legislation currently in effect in Canada , the Shares, the Warrants and the Warrant Shares will be subject to a "hold period" of four months plus one day from the Closing. The Company will pay finders' fees with respect to the tranche offerings to date in the aggregate amount of $16,450 and 329,000 Warrants, each such Warrant entitling the holder to acquire one additional Share of the Company at a price of $0.10 for a period of eighteen months from the Closing of each tranche. The proceeds of the Placement will be used principally to fund exploration expenses on the Company's Urumalqui Project in Peru , as well as option payment obligations, 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 ("MRNNR") and Ministry of Environment 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. 732.940.5487 firstname.lastname@example.org www.andeangoldltd.com Investor Relations: Jamie Mathers 604.218.5460 email@example.com Source: AndeanGold Ltd.
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