Andean Precious Metals Appoints Sylvain Lessard as President and General Manager at the Golden Queen Mine

Toronto, July 11, 2024 - Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) ("Andean" or the "Company") is pleased to announce the appointment of Sylvain Lessard as President and General Manager of Golden Queen Mine, effective today, July 11, 2024.

With over 30 years of extensive experience in the mining sector, Mr. Lessard brings a wealth of knowledge and a proven track record in open pit mining operations. Sylvain's career highlights include roles as Vice President of Operations, General Manager, and various leadership positions where he successfully led operational teams, implemented strategic plans for increased workflow efficiency, profitability, and enhanced company stability.

Most recently as the former Vice President of Hecla Quebec and General Manager at Casa Berardi Mine, Mr. Lessard was responsible for managing operations at two underground mines and one open pit with significant production capacity. Additionally, he successfully led the expansion of the Scully Mine to a higher production capacity during his tenure as Vice President, Mining Operations at Tacora Resources.

Mr. Lessard holds a Bachelor of Science degree in Mining Engineering from École Polytechnique de Montréal and has undergone professional training in Lean Management, Leadership, Blasting Techniques, and more.

Executive Chairman and CEO, Alberto Morales, stated "I am very pleased to welcome Sylvain to the Andean team. His exceptional leadership skills, deep technical knowledge, and proven capabilities in driving operational excellence and cost control align perfectly with our company's goals. We are confident that Sylvain's expertise will further strengthen our position in the industry and lead Golden Queen to new heights.

"I also want to take this opportunity to extend my gratitude to Mark Fullenwider for his outstanding dedication and leadership during his tenure at Golden Queen. Since December 2020 until his departure, Mark has navigated the challenges of the pandemic and the transition through the acquisition by Andean with exceptional skill. His wealth of knowledge in mining and his invaluable insights into Golden Queen's operations have been crucial and I wish him all the best in his future endeavors."

About Andean Precious Metals

Andean is a growing precious metals producer focused on expanding into top-tier jurisdictions in the Americas. The Company owns and operates the San Bartolomé processing facility in Potosí, Bolivia and the Soledad Mountain mine in Kern County, California, and is well-funded to act on future growth opportunities. Andean's leadership team is committed to creating value; fostering safe, sustainable and responsible operations; and achieving our ambition to be a multi-asset, mid-tier precious metals producer.

Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

Certain statements and information in this release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which we refer to collectively as "forward-looking statements". Forward-Looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.

Forward-Looking statements in this release include, but are not limited to, statements and information regarding the Company's production and cost outlook and capital expenditure expectations for 2024. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to: the Company's ability to carry on exploration and development activities; the Company's ability to secure and to meet obligations under property and option agreements and other material agreements; the timely receipt of required approvals and permits; that there is no material adverse change affecting the Company or its properties; that contracted parties provide goods or services in a timely manner; that no unusual geological or technical problems occur; that plant and equipment function as anticipated and that there is no material adverse change in the price of silver, costs associated with production or recovery. Forward-Looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct, and you are cautioned not to place undue reliance on forward-looking statements contained herein.

Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this release include, but are not limited to: risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations; results of initial feasibility, pre-feasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks relating to possible variations in reserves, resources, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; the potential for delays in exploration or development activities or the completion of feasibility studies; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; risks related to commodity price and foreign exchange rate fluctuations; the uncertainty of profitability based upon the cyclical nature of the industry in which the Company operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental or local community approvals or in the completion of development or construction activities; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment; and other factors contained in the section entitled "Risk Factors" in the Company's MD&A dated March 31, 2024.

Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in this release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

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