Andean Precious Metals Accelerates Exploration Drill Programmes at San Pablo and Rio Blanco Properties

Luis da Silva, Chief Executive Officer of Andean, commented, "Andean has a number of very prospective, wholly-owned exploration properties in our portfolio. With a strong financial performance over the last several quarters and San Bartolome continuing to operate on budget, we feel the time is right to focus our attention on organic growth opportunities and accelerate our exploration programmes. Bolivia is a prolific precious metals jurisdiction, and we believe both San Pablo and Rio Blanco have the potential to deliver significant value for our stakeholders - we look forward to updating the market as we advance this process."

Rio Blanco:

Last week, the Company commenced a diamond drilling campaign comprising 22 holes over 5,500 metres with three drill rigs. In parallel, the Company has advanced reconnaissance geological work including trenching totaling 1,500 metres replicating the historic work as performed by ASARCO in 1998. This work programme is intended to supplement the drilling campaign.

Highlights:

• 1,300 trench samples from the current campaign already sent to the ALS laboratory in Peru
• Significant historic gold and silver mining in the same orogenic belt as San Pablo
• Contiguous exploration and mining rights for 13,462 hectares
• Structural continuity over 22km
  • Historic results of 21 trenches completed cutting the axial plane of regional anticline
  • Including gold assays of 10g/t over 2m, 2.2g/t over 17m and 3.7g/t over 9m

Subject to lifting of COVID related border controls the Company will undertake IP geophysics at both exploration properties and will update the market on these developments in due course.

San Pablo:

Between February and May 2021, the Company completed the first phase of 12 holes totaling 3,580 metres, varied in depth from 140 metres to the deepest at 625 metres. These holes constitute the first phase of a diamond drilling programme totaling 10,000 metres, dependent on these first results. All core samples were sent to the ALS laboratory in Peru for fire assaying and the company expects to announce these results in the coming weeks.

Highlights:

• Hosted in the same orogenic belt as Kori Kollo, which produced approximately 6M ozs of gold for Newmont Corp.
• Contiguous exploration and mining rights for 650 hectares
• Located 350km from Potosi and the San Bartolomé Plant
• Surface geochemical samples yielding >15 g/t gold

About Andean Precious Metals Corp.

Andean Precious Metals (TSXV: APM) is a Canadian, growth-focused silver producer operating in Bolivia. The Company produced 5.9M equivalent ounces of silver in 2020 at an all-in sustaining cost of approximately $14.75 USD per ounce from its own mineral claims, contracts with the state mining company of Bolivia (COMIBOL), and from a high margin third-party ore sourcing business. All processing takes place at the Company's 1.65 M tonnes per year San Bartolomé plant which has the capacity to produce to refined silver bars. Andean Precious Metals is committed to fostering safe, sustainable and responsible operations. For more information, please visit www.andeanpm.com

Company Contact

Luis da Silva
Chief Executive Officer
ir@andeanpm.com
T: +1 437 886 1033

Media Contact N.A.

Daniel Weinerman
Director
National PR
dweinerman@national.ca
T: +1 416 848 1715

Media Contact Eur.

Oliver Lamb
Consultant
Tavistock
andean@tavistock.co.uk
T: +44 20 7920 3150

Caution Regarding Forward-Looking Statements

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This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of Andean with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions.

Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect Andean's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Andean believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of Andean. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets. These forward-looking statements may be affected by risks and uncertainties in the business of Andean and general market conditions, including COVID-19.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Andean has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. Andean does not intend, and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.