Uppköpsvågen av guldbolag fortsätter

Minefinders, Trelawney, Prodigy, Galway redan i år och nu Andina: Andina Minerals Inc. Agrees to Friendly Business Combination With Hochschild Mining Plc

Andina Minerals Inc. (TSX VENTURE:ADM) (”Andina” or the ”Company”) is pleased to announce that it has entered into a binding agreement (the ”Support Agreement”) with Hochschild Mining PLC (”Hochschild”) pursuant to which Hochschild has agreed, subject to the terms of the Support Agreement, to make an offer to purchase all of the outstanding common shares of Andina by way of a friendly take-over bid at a price of C$0.80 per share in cash (the ”Offer”).

The Offer represents a 106% premium to the 20-day volume weighted average price as at November 7, 2012 of Andina’s common shares on the TSX-V and a 100% premium to the closing price of the Company’s common shares on the TSX-V, immediately prior to the announcement of the Offer. The transaction values Andina’s equity at approximately C$103 million on a fully diluted in-the-money basis.

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