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  | | Thu Mar 1, 2007
Minera Andes Outlines 2007 San Jose Mine Exploration Program -- Includes 38,228 Meters Of Drilling
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| | SPOKANE, WASHINGTON -- March 1, 2007 -- Minera Andes Inc. (TSX: MAI and US OTC: MNEAF) is pleased to report on the 2007 exploration program for the San José Mine where gold and silver production is scheduled to start in the second quarter of 2007 under the management of our operating partner, Hochschild Mining plc (HOC.L Reuters, HOC.LN Bloomberg, London Stock Exchange). An aggressive program has been approved by the joint venture partners consisting primarily of adding new reserves/resources by drilling along trend of existing reserves and drilling to test new targets at the San José project. A total of 14 targets will be drilled (see table below).
The goal of the drilling program is to add new reserves and resources, and to identify new veins that will increase mine life and facilitate the expansion of production at the San José project.
Table - Planned 2007 Drilling Program
Vein Target Number of Meters of Drilling
Drill holes
Frea SW 32 10,638
Frea SE 27 7,605
Frea-Ramal 4 1,000
Frea 4 1,000
Frea NE 6 1,500
Ayelen 15 3,300
Odin (A and B) 20 4,055
Pluma Sur 6 1,500
Huevos Verdes 4 1,000
Kospi (l and Sur) 11 2,750
Frigga 4 1,000
Aguas Vivas 12 2,880
Total 145 38,228
During the past two years four new vein systems have been discovered outside of the existing reserves by drilling geophysical and geologic targets at the San José project. A total of 40 kilometers of vein trend has been identified on the property including over 5 kilometers of geophysical targets (see attached map). Extensive drilling has been conducted on only 10% or about 4 km of veins that make up the reserve and resource base for the imminent startup of the San José mine.
The current program, managed by our operating partner Hochschild Mining Argentina Corporation, a subsidiary of Hochschild Mining plc ("Hochschild"), will consist of exploration and the drilling of approximately 145 holes totaling 38,228 meters (see table for summary). The budgeted program will cost approximately $4 million and start with drilling the southern and northern extensions of the Frea vein. Currently the Frea vein makes up approximately 50% of the reserves on property and has only been explored for about 0.5 km of strike length. Over half of the drilling program will concentrate on different parts of the Frea vein.
Allen V. Ambrose, president of Minera Andes said "The exploration program at San José has been highly successful in discovering new silver and gold veins. Using geophysics to identify vein targets by looking through areas covered by overburden we have had excellent success drilling these targets and finding new veins. The large drilling program underway has significant potential to make additional silver and gold discoveries on the property."
Our partner Hochschild has over forty years experience in the exploration, evaluation and extraction of precious metal epithermal vein deposits in South America. In addition, they have extensive experience in underground mining and operate three underground epithermal vein mines located in southern Peru that are geologically similar to the San José project.
Minera Andes is a gold, silver and copper exploration company working in Argentina. The Corporation holds about 440,000 acres of mineral exploration land in Argentina including the co-owned San José/Huevos Verdes silver/gold project now under construction for production and cash flow by mid-2007. Minera Andes is also exploring the Los Azules copper project in San Juan province, where drilling is underway to define a resource. Other exploration properties, primarily gold and silver, are being evaluated in southern Argentina. The Corporation presently has 157,239,415 issued and outstanding shares.
This news is submitted by Allen V. Ambrose, president and director of Minera Andes Inc.
For further information, please contact Art Johnson at the Spokane office, or Krister A. Kottmeier, investor relations -- Canada at the Vancouver office. Visit our web site: www.minandes.com.
Spokane Office
111 East Magnesium Road; Ste. A
Spokane, WA 99208 USA
Phone: (509) 921-7322
E-mail: info@minandes.com
Vancouver Office
911-470 Granville Street
Vancouver, B.C. V6C 1V5
Phone: (604) 689-7017; 877-689-7018
E-mail: ircanada@minandes.com
FORWARD-LOOKING STATEMENTS: This press release contains certain "forward-looking statements," including, but not limited to, the statements regarding the Company's strategic plans, evolution of mineral resources and reserves, work programs, development plans and exploration budgets at the Company's San José Project.
The forward-looking statements express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations,, environmental risks and hazards, uncertainty as to calculation of mineral reserves and other risks. Neither Hochschild Mining plc nor its subsidiaries accept responsibility for the use of project data or the adequacy or accuracy of this release.
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