Minera Andes Inc.
Minera Andes Drilling Cuts 217 Meters (712Ft) of
0.77 Percent Primary Copper Mineralization
at Los Azules Project
SPOKANE, WA, June 6, 2008 - Minera Andes Inc. (TSX: MAI; US OTC: MNEAF) is pleased to report assay results from the remaining core holes drilled during the 2007-2008 exploration field season at the Los Azules porphyry copper project. The best intercept is from hole AZ-08-37A which encountered 112 meters of 0.98 % copper within a larger zone of 217 meters of 0.77 % copper. This hole represents the largest interval of primary copper mineralization identified on the property to date, it extends the known mineralization an additional 400 m to the north and is the deepest hole drilled to date on the property by Minera Andes further confirming the limits of the copper system have not been defined.
A total of 5,438.34 meters were drilled in 15 vertical core holes during the 2007-2008 field season to complete Stage I of the exploration program discussed in Minera Andes News Releases dated November 14 and December 11, 2007. In this recent drilling holes AZ-08-39 and 42 failed to reach the copper target due to difficult drilling conditions and hole AZ-08-40, and its redrilled extension AZ-08-40B, only partially penetrated the copper target bottoming in copper mineralization. AZ-07-37 and -37A were drilled 400 meters north of the currently defined copper mineralization (see map, holes AZ-06-17 and AZ-07-30 on the company's website www.minandes.com). AZ-07-37 was drilled to a depth of 229.1 meters before being abandoned due to poor drilling conditions. The hole was re-drilled as AZ-07-37A and encountered primary copper mineralization occurring as chalcopyrite and bornite from 324 meters to the end of the hole at 541 meters. Drill holes AZ-08-34, -38,-40, and -40B extended the drilled area to the east and indicate that medium to high grade copper mineralization is present to the eastern limit of drilling. Hole AZ-08-41 has expanded copper mineralization to the west of the known copper mineralization. Hole AZ-08-44 was drilled east of the high-grade copper mineralization intersected in hole AZ-08-37A and encountered only low grade copper mineralization, but may have been abandoned due to bad ground prior to reaching the deep mineralization encountered in hole AZ-08-37A. Holes AZ-08-36 and 43 further establish the continuity of mineralization in the core of the copper target.
Allen Ambrose, president of Minera Andes said "This field season's program has delivered exceptional copper results at Los Azules and the size of the target has expanded throughout the drilling program. Drill hole AZ-07-37A is exciting in that it shows our copper system is open to the north and has significant potential for target expansion. Our team of engineering consultants is completing a resource estimate and the necessary work on a NI 43-101 Preliminary Assessment (scoping study) that will include an economic analysis of the project."
The exploration program at Los Azules is designed to define an inferred resource and provide sufficiently detailed engineering and technical information to allow the completion of an economic scoping study (a Preliminary Assessment as defined by NI 43-101) of the property by the fourth quarter of this year.
Minera Andes is advancing the Los Azules project under an option agreement with Xstrata Copper, one of the commodity business units within Xstrata plc (London Stock Exchange: XTA.L and Zurich Stock Exchange: XTRZn.S). The scope and size potential of the project increased dramatically in 2006 when the Minera Andes drilling discovered a near surface high-grade area of copper mineralization, when AZ-06-19 encountered 221 meters of mineralization averaging 1.62% copper that was 200 meters from hole AZ-06-20 containing 173 meters of 1% copper. Drilling in several holes ended in copper mineralization, including two holes that bottomed in high-grade copper over 1%.
During the last few years, more than half the drilling to define a copper resource has been completed and drilling this field season was over the known area of leachable (chalcocite) and sulfide (chalcopyrite) copper mineralization as currently defined. The area drilled covers approximately 2.5 kilometers by 0.9 kilometers within the enriched copper target currently identified at Los Azules that is about 3.3 kilometers long and 0.9 kilometers wide. Holes were drilled at a nominal grid spacing of 200 meters east-west and 400 meters north-south. Where needed, select infill holes were drilled on the 200 meter north-south grid lines.
Most of the recent drilling has focused on the northern half of the mineralized copper target. The holes are being drilled to a depth of approximately 350-500 meters. This drilling tested a known area of leachable (chalcocite) and sulfide (chalcopyrite) copper mineralization currently defined by 40 drill holes.
All results have been reviewed by Brian Gavin, Minera Andes' vice president of exploration, an appropriately qualified person as defined by National Instrument 43-101. All samples were collected in accordance with industry standards. Splits from the drill core samples were submitted to Alex Stewart Assayers, Argentina, S.A., in Mendoza, Argentina, for sample pulp preparation and to ALS Chemex Laboratories. Drill results are available at www.minandes.com.
Minera Andes is a gold, silver and copper exploration company working in Argentina. The Corporation holds about 304,000 acres of mineral exploration land in Argentina including the 49% owned San José silver/gold mine that has recently commenced production. As discussed above, Minera Andes is exploring the Los Azules copper project in San Juan province, where an exploration program is underway to define a resource. Other exploration properties, primarily silver and gold, are being evaluated in southern Argentina. The Corporation presently has 189,402,435 shares issued and outstanding.
For further information on Minera Andes Inc. contact Art Johnson, Investor Relations, at the Spokane office, (509) 921-7322. E-mail: info@minandes.com or Krister A Kottmeier, Investor Relations, Canada, (604) 689-7017 or 877-689-7018. E-mail: ircanada@minandes.com. Visit the website at www.minandes.com.
Special Note Regarding Forward-Looking Statements-Certain statements in Gold Stock News Mining Stocks Updates constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: risks inherent in restrictions of foreign ownership; uncertainties relating to carrying on business in foreign countries; the Company's history of operating losses and uncertainty of future profitability, uncertainty of access to additional capital environmental liability claims and insurance; and dependence on joint venture partners. Certain forward-looking statements will be identified by a cross-reference to the Special Note. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate and similar expressions, or which by their nature refer to future events. The Company cautions investors that any forward-looking statements made by the company are not guarantees of future performance, and that the actual results may differ materially from those in the forward-looking statements as a result of various factors, including but not limited to, the Company's ability to be able to continue its substantial projected growth, or be able to fully implement its business strategies, or that management will be able to successfully integrate the operations of its various acquisitions.
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