Exhibit 99.1
| TSX: MAI | NEWS RELEASE | NASD-OTCBB: MNEAF |
MINERA ANDES INFORMS OF WORK STOPPAGE AT SAN JOSÉ MINE
TORONTO, ONTARIO – OCTOBER 16, 2009 - Minera Andes Inc. (the “Corporation” or “Minera Andes”) (TSX: MAI and US OTC: MNEAF) Minera Andes Inc. (the "Corporation" or "Minera Andes") (TSX: MAI and US OTC: MNEAF) informs today that it has been advised by Minera Santa Cruz SA ("MSC"), that production has been suspended at the San José Mine in Argentina due to labor issues. The San José project is operated by MSC, which is owned 51% by Hochschild Mining plc and 49% by Minera Andes.
As the project operator, MSC and Hochschild Mining plc have been working diligently and collaboratively towards a positive solution. The Corporation will advise the market on resolution.
Minera Andes is an exploration company exploring for gold, silver and copper in Argentina. It has three significant assets: One, a 49% interest in Minera Santa Cruz SA which owns the San Jose Mine which is one of the world’s largest primary silver producers; two, a 100% earned-in interest in the big Los Azules copper deposit; and three, a portfolio of exploration properties in the prospective Deseado Massif region of Southern Argentina. The company is formulating plans for drilling on these properties in the upcoming drill season in Argentina.
This news release is submitted by James K. Duff, Chief Operating Officer of Minera Andes Inc.
For further information, please contact: Helen Bilhete or visit our Web site: www.minandes.com.
Helen Bilhete Director, Investor Relations 99 George St. 3rd Floor, Toronto, Ontario, Canada. M5A 2N4 Toll-Free: 1-866-441-0690 Tel:647-258-0395 Fax: 647-258-0408 E-mail: info@minandes.com |
Caution Concerning Forward-Looking Statements:
This press release contains certain forward-looking statements and information, including those related to the resumption of work at the San José Mine. The forward-looking statements and information express, as at the date of this press release, the Corporation's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral reserves and other risks.
Readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See our annual information form for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. All forward-looking statements and information made in this news release are qualified by this cautionary statement.
Minera Andes Inc. News Release 09-42 Page 1 |