AndeanGold Proposes to Extend the Expiry Date of Previously Issued Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 10, 2014) - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX VENTURE:AAU)(LMA:AAU) announces that the Company has applied to the TSX Venture Exchange (the "Exchange") to extend the expiry date for the aggregate of 3,443,606 warrants issued in connection with a private placement which closed on May 2^nd and 16^th, 2013 from November 2^nd and 16^th, 2014, to November 2^nd and 16^th, 2015, at an exercise price of $0.12. The amended warrant expiry date is subject to acceptance by the Exchange.

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, MRNNR approved the Company's application to restart exploration programs on its Curiplaya Au-Cu property.

Please refer to AndeanGold's website at www.andeangoldltd.com for further information on the Company's projects and activities.

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.