Andina Minerals Inc.

COMPANY DATA | INTRODUCTION |  PROJECT IN HAND | MANAGEMENT 
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

Andina Minerals Inc. is an Americas focused exploration company with a portfolio of five precious metals exploration projects in Chile including the its flagship Volcan Gold Project. The Company is managed by a skilled team of exploration professionals with substantial experience in the Americas who in turn supported by a Board of Directors composed of senior mining and finance professionals. Andina is dedicated to maximizing the value of its exploration assets through a disciplined and fiscally responsible approach exploration.

PROJECT IN HAND

(1) Volcan Project, Chile

Strategically located in the Chile's Maricunga Gold Belt, 170 km east of Copiapo within Region III and 23 km northeast of Kinross' Refugio Mine, Andina's 5,450 hectare Volcan Gold Project has quickly developed into one of recent premier gold discoveries in Chile. The Maricunga Gold Belt is known for large, bulk tonnage deposits such as Refugio (Kinross/Bema), La Coipa (Goldcorp/Kinross) and Cerro Casale (Arizona Star/Bema).

Andina completed its Phase II drilling program in May 2006 with the onset of the Andean winter. The program focused mainly on definition and delineation drilling in the Dorado area of the property where gold is associated with hydrothermal breccias up to 200 metres wide extending to depths in excess of 400 metres. To date, the Company has outlined three significant zones of gold mineralization in the Dorado area of the property: the East, the Central and the West Zone.

Project highlights included:

• February 2007 resource estimate reports 459,800 ounces of gold in the indicated category and a further 773,400 ounces of gold in the inferred category (see table below) from the Dorado East and Central zones.

• 8,693 metres of drilling in 68 holes, including 11,360 metres of RC drilling and 7,333 metres of diamond drilling.

• Recent results include 362 metres grading 1.09 g/t gold from the West Zone.

• Discovered a new area of gold mineralization, Ojo de Agua, 3 km from the Dorado area.

• Defined new drill targets for the Phase III exploration campaign.

2006 / 2007 Phase III Definition Drilling / Exploration Program

• Significant increase in expenditures proposed for upcoming program

• Up to 6 drills to be mobilized with a focus on:

  • continued definition drilling in the Dorado area

  • exploration drilling in the newly discovered Ojo de Agua area where trenching results included 620 metres of 0.34 g/t gold with 205 metres grading 0.67 g/t gold

  • exploration drilling on additional identified targets

(2) Anocarire Project, Northern Chile

The 9,000 hectare Anocarire project is located in the district of Putre, Province of Parinacota, Region I, of northern Chile, approximately 120 km east of Arica and 60 km southeast of the town of Putre. Andina has the right to earn a 100% interest in the property by making a series of staged payments totalling US$3,475,000 to the owner and paying a NSR royalty of 0.75% on the proceeds generated at the commencement of commercial production.

The project area encompasses a collapsed volcanic caldera with a broad zone intense hydrothermal alteration measuring 4 by 2.5 km. The alteration system may represent the surface expression of an underlying magnetic hydrothermal - phreatic breccia system in which gold mineralization may have been deposited at depth. Exploration activities are ongoing.

(3) Encrucijada Project, Chile

The Encrucijada project is located in Region III, 85 km southeast of Taltal, Chile. Andina has an option to acquire a 100% interest in the 13,700 ha property subject to payments to Minera Newmont (Chile) Ltda. The property is underlain by a gold-silver bearing epithermal vein system which has received limited exploration to-date.

In the event that Andina produces a positive feasibility study for a project covered by the option agreement, Newmont has a one-time right to acquire a 60% interest in the project by paying Andina an amount equivalent to 200% of all costs incurred by Andina on the mineral concessions. If Newmont does not trigger its back-in right, metals production from the Encrucijada project would be subject to a NSR royalty payable to Newmont.

(4) Pampa Buenos Aires Project, Chile

The Pampa Buenos Aires prospect is located in Region II approximately 15 km southwest of the Meridian Gold's El Penon silver gold mine. The property comprises 27,000 ha owned by 100% by Andina. Minera Newmont (Chile) Ltda. retains a one-time back in right on a 17,000 ha portion of the property if a positive feasibility study is produced or may elect to take a NSR royalty on any metals produced from the 17,000 ha block.

The property area has been subject to regional exploration by Newmont during the period 2001 to 2003. The work included magnetometer and hoist EM surveys plus regional stream sediment sampling. Encouraging anomalous stream sediment results were obtained from areas with no history of gold mineralization. The combination of known hydrothermal systems, anomalous, previously unknown occurrences of gold and the large area obscured by the gravel cover make Pampa Buenos Aires an attractive exploration target for epithermal gold and copper mineralization.

The Pampa Buenos Aires is a broad plain underlain primarily by andesitic volcanic rocks but mostly covered by alluvial gravels. A number of zones of hydrothermal alteration occur on the mineral concessions and one highly silicified zone on the southwest corner of the concession block has been mined in the past for silica used as flux in smelting operations. These silicified zones are indicative of the volcanic-hydrothermal and structural history of the area.

(5) Valeriano Project, Chile

Andina Minerals entered into an option agreement to acquire the 3,000 hectare Valeriano Project, located in Chile's Region III, 120 km east of Vallenar and 30 km north of Barrick Gold's Pascua-Lama Project, in January 2007.

Since the early 1980's, the Valeriano Project has been the focus of a number of exploration programs by senior mining companies, including Exxon Minerals, Phelps Dodge and Newmont. Between 1996 and 1999, Barrick Gold was engaged in an exploration project on the Property which included 12,600 metres of drilling. The combined results from the previous exploration campaigns are sufficient to warrant further exploration.

The target of the previous exploration programs was a series of alteration systems cutting Paleozoic to Triassic volcanics and Tertiary volcanics and intrusives which underlie the Valeriano Property. Two types of alteration have been reported: epithermal high sulphidation system with enargite and tennatite; and mesothermal-type alteration with quartz-sericite-pyrite ± tourmaline. A number of geochemical anomalies associated with alteration systems, possibly related to Maricunga-style gold porphyry systems, remain untested and will be the initial focus of Andina's exploration activities at Valeriano.

MANAGEMENT

Andina Minerals Inc. has a well management team with experience in different areas.

Carl B. Hansen, President and CEO, Director
Mr. Hansen is a geologist with almost 20 years experience in the exploration and mining industry. He has held various exploration, operation and head office positions with junior exploration to senior mining companies including Inco and TVX Gold. In December 2003, Mr. Hansen and a group of international mining professionals, formed Andina Minerals Inc., to explore for gold, silver and copper in the Americas. In December 2004, Andina merged with CastleRock Resources Inc. to become a publicly traded company listed on the TSX-Venture exchange.

T. Sean Harvey, Non-Executive Chairman
Mr. Harvey has over 10 years investment banking and merchant banking experience, primarily focused on the basic industry (mining) sector and for the past 5 years he has held senior executive and board positions with various mining companies. Mr. Harvey was recently the President and CEO of Orvana Minerals Corp. Previously, he was President and CEO of TVX Gold at the time of its sale to Kinross Gold Corp. in 2003 and, subsequent to that, was President and CEO of Atlantico Gold, a private company involved in the development of the Amapari Project in Brazil, that was sold to Wheaton River Minerals Ltd. (presently Goldcorp).

Robert Whittall, Director and Audit Committee Chairman
Mr. Whittall is a Chartered Accountant and a Professional Engineer with over 20 years experience in the minerals industry including nine years in public accounting. Currently, Mr. Whittall is a VP Finance and CFO of Goldcrest Resources Inc., a TSX-V traded company with projects in Australia and Africa. Prior to Goldcrest, Mr. Whittall held various finance-related positions with junior exploration and senior mining companies including TVX Gold.

Further, Mr. Whittall is a director of the Prospectors and Developers Association of Canada (PDAC) and chairman of the PDAC's Financial and Taxation Committee.

Robert D. Cudney, Director
Mr. Cudney is President, CEO and founder of Northfield Capital Corp., a Canadian-based investment firm with interests in a number of companies spanning the oil and gas, mining, technology and manufacturing sectors. Mr. Cudney presently serves as a director for several publicly listed and private companies.

Nicholas Tintor, Director
Mr. Tintor is a geologist with more than 25 years of experience in the mining industry having been involved with all aspects of mining company management, finance and project acquisition. Currently, Mr. Tintor is President and CEO of Anaconda Gold Corporation, a publicly listed Toronto-based mineral exploration and development company with projects in Canada.

Eduardo Rosselot, Director
Mr. Rosselot is a mining engineer with almost 20 years of mining industry experience having worked for major mining companies, consulting companies and contracting companies. Recently, Mr. Rosselot was employed by Orvana Minerals Corporation as V.P. Business Development and Special Projects. Prior to that Mr. Rosselot held senior mining engineering positions with a number of gold and base metal mining companies including, from 1996 to 2003, TVX Gold Inc., where he was Technical Services Superintendent at TVX Hellas.

Greg Laing, Director
Mr. Laing is a senior legal executive and lawyer with nine years large legal firms and ten years in-house corporate experience with international precious metal mining companies. Currently, Mr. Laing is the General Counsel, Vice President, Legal and Corporate Secretary of Agnico-Eagle Mines Limited. From 2003 to 2005, Mr. Laing was V.P. Legal for Goldcorp Inc. and managed, among other matters, the legal issues relating to the recent business combination of Goldcorp and Wheaton River Minerals Ltd. Prior to his involvement with Goldcorp, Mr. Laing was General Counsel, Vice President and Corporate Secretary for TVX Gold Inc., an international gold mining company acquired by Kinross Gold Corp. in 2003.

NEWS UPDATE

On March 2, 2007, Andina Minerals Inc. provided a response to recent inaccurate press articles in Chile reporting that Andina is preparing to construct a mining operation at its Volcan Gold Project located 170 km east of Copiapo within Region III, Chile.

While Andina continues to increase the resources at its Volcan Gold Project (Andina Press Release dated Feb. 26, 2007), it has not conducted any economic feasibility studies and, therefore, at this time, is not carrying out mine development at Volcan. Andina is currently continuing exploration activities on the project, where since April 2005, it has completed approximately 35,000 metres of exploration drilling.

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