Minera Andes announces 1.69 oz/ton gold and 37 oz/ton silver from San José drilling



    TSX: MAI
    NASD-OTCBB: MNEAF

    SPOKANE, WA, March 7 /CNW/ - Minera Andes Inc. (TSX: MAI and US OTC:
MNEAF) is pleased to announce that during the fourth quarter of 2007 drilling
has defined 2.8 km of strike length along the Odin and Ayelén veins that have
significant potential to further increase the current reserves/resources at
its producing San José mine in southern Argentina. The highest grade intercept
from this drilling campaign was in hole SJD-412 that encountered 52.44 g/t
(1.69 ounces per ton "opt") gold and 1,147 g/t (37 opt) silver over
1.68 meters (see table below).
    During 2007, approximately 28,587 meters of core drilling totaling
113 drill holes was conducted on several targets identified at San José. In
September thru December of 2007, 82 holes totaling 20,274 meters were drilled
at the Frea, Odin, Ayelén, Frigga, and Lourdes targets. Assay results for
19 drill holes are still pending. Three of the areas (Frea, Odin, and Ayelén)
contained high-grade gold/silver mineralization discovered in late 2005
through reconnaissance drilling of blind geophysical targets.
    The majority of the fourth quarter 2007 drilling concentrated on the Odin
and Ayelén veins covering approximately 2.8 kilometers of strike length along
these open-ended mineralized veins. The drilling completed in 2007 extended
the known mineralization along the Odin and Ayelén vein trends another
1000 meters along strike - more than a 64% increase in strike length from the
2005 discovery drilling.
    Allen Ambrose, president of Minera Andes, said: "The drilling results
from the 2007 exploration drilling program continue to expand the San José
projects size. This should further facilitate MSC's plan to double production
from 750 to 1500 tonnes per day by the end of this year."
    The San José project is operated by Minera Santa Cruz S.A. ("MSC") (owned
51% by Hochschild Mining plc ("Hochschild") (HOC.L: Reuters and HOC.LN:
Bloomberg - London Stock Exchange) and 49% by Minera Andes. The discovery of
new high-grade silver/gold mineralization in veins such as Odin, Ayelén and
Frea represents additional mineralization that can add to the current
reserves/resources at the project where production has recently commenced.
These discoveries also indicate the large mineral potential of the San José
property where more than 40 kilometers of vein trend target is currently known
to exist, and of which less than 15% has been explored to date.

    Odin Vein

    During the 2007 campaign, 30 holes were drilled on the Odin target and
the vein is currently defined by a total of 44 holes in an area approximately
1600 meters along the strike of the vein to a depth of approximately
200 meters (see attached map). Highlights of the program included the
identification of massive and banded quartz veining with disseminated pyrite
and argillic alteration. The Odin vein remains open along strike and to depth.
    High-grade gold and silver mineralization was intersected in the fourth
quarter 2007 drilling campaign at the Odin vein (see table below). The highest
grade intercept drilled in this drilling campaign is described above.
Highlights of the Odin vein drilling include values up to 0.46 meters of
34.43 g/t (1.11 opt) gold and 321 g/t (10 opt) silver (SJ-368) which is part
of a larger interval running 3.15 meters of 10.57 g/t (0.34 opt) gold and
244 (8 opt) g/t silver. Hole SJD-398 contains 0.50 meters of 6.30 g/t (0.20
opt) gold and 1074 g/t (35 opt) silver at depth of 220 meters below surface.
See table below for important intercepts.

    Ayelén Vein

    Drilling in the fourth quarter has expanded the Ayelén high-grade gold
silver vein to a strike length of 1200 meters and a depth of 200 meters (see
attached map). A total of 45 holes have been drilled on the Ayelén vein with
37 holes drilled in the 2007 campaign. The Ayelén vein structure is sub
parallel to the Odin vein and dips in the same direction southwest.
    Significant intercepts (see table below) at Ayelén include SJD-397 that
encountered 28.22 g/t (0.91 opt) gold and 1,759 g/t (57 opt) silver over
1.02 meters. Drill hole SJD-426 encountered 1.53 meters grading 8.21 g/t
(0.26 opt) gold and 1,161 g/t (37 opt) silver within a larger interval of
2.95 meters of 5.41 g/t (0.17 opt) gold and 804 g/t (26 opt) silver. Hole
SJD-428 encountered 1.55 meters containing 15.41 g/t (0.50 opt) gold and 736
g/t (24 opt) silver.

    Frea Vein

    The Frea vein is located 2 kilometers northeast of the Huevos Verdes
vein, and both veins are currently being mined on several levels. Proven
reserves of 587,000 tonnes and probable reserves 350,000 tonnes (totaling
937,000 tonnes grading 7.77 g/t gold and 343 g/t silver - see November 26,
2007 News Release) at the Frea vein are currently delineated over a strike
length of about 575 meters and to a depth of approximately 350 meters below
the surface. The drilling completed in 2007 extends the known mineralization
along the Frea vein trend another 500 meters along strike - an increase of 87%
in strike length. Frea Vein mineralization now extends for 700 meters of
strike and it remains open to further expansion to the northwest and to depth.
    The 2007 drilling concentrated on infill and drilling the northwest
extension of the Frea vein. Significant drilling results include SJD-364 that
encountered 11.57 g/t (0.37 opt) gold and 1,291 g/t (42 opt) silver over
3.64 meters of high grade mineralization. Drill hole SJD-386 encountered
1.50 meters grading 12.87 g/t (0.41 opt) gold and 710 g/t (23 opt) silver.
Hole SJD-391 encountered 1.47 meters containing 9.41 g/t (0.30 opt) gold and
758 g/t (24 opt) silver. In 2007, the drilling at the Frea vein indicates that
it is an open-ended mineralized silver/gold vein. Assay results are pending
for hole SJD-442.

    
        September thru December 2007 Drilling Highlights, San José Project
    -------------------------------------------------------------------------
    Drill              From         To       Interval       Au          Ag
    Hole/Vein        (meters)    (meters)    (meters)     (g/t)       (g/t)
    -------------------------------------------------------------------------
    Frea
    -------------------------------------------------------------------------
    SJD-364           142.26      145.90        3.64       11.57       1,291
    -------------------------------------------------------------------------
    SJD-367           291.78      293.86        2.08        1.54          30
    -------------------------------------------------------------------------
    SJD-383           125.77      126.15        0.38        0.30          78
    -------------------------------------------------------------------------
    SJD-386           128.20      128.75        0.55        1.86         118
    -------------------------------------------------------------------------
    and               171.90      173.40        1.50       12.87         710
    -------------------------------------------------------------------------
    SJD-391            62.53       64.00        1.47        9.41         758
    -------------------------------------------------------------------------
    Odin
    -------------------------------------------------------------------------
    SJD-366            130.2      130.57        0.37        2.63         226
    -------------------------------------------------------------------------
    SJD-368           101.20      104.35        3.15       10.57         244
    -------------------------------------------------------------------------
    includes          101.20      103.13        1.93       15.25         334
    -------------------------------------------------------------------------
    includes          102.57      103.13        0.56       34.43         321
    -------------------------------------------------------------------------
    SJD-369            144.7      145.52        0.82        8.44         539
    -------------------------------------------------------------------------
    SJD-371            130.2      130.22        0.20        0.23          22
    -------------------------------------------------------------------------
    SJD-375           123.38      124.02        0.66        0.76         146
    -------------------------------------------------------------------------
    SJD-376            66.50       66.95        0.45        0.66         213
    -------------------------------------------------------------------------
    SJD-379           198.94      202.45        3.51        3.74         108
    -------------------------------------------------------------------------
    includes          198.94      199.24        0.30        9.29         360
    -------------------------------------------------------------------------
    includes          200.87      202.45        1.58        5.06         144
    -------------------------------------------------------------------------
    SJD-381           193.65      194.82        1.17        4.15          85
    -------------------------------------------------------------------------
    SJD-382           108.44      109.33        0.89        0.36          49
    -------------------------------------------------------------------------
    SJD-384           219.85      220.35        0.50        0.23          16
    -------------------------------------------------------------------------
    SJD-388           230.23      230.55        0.32        1.51          10
    -------------------------------------------------------------------------
    SJD-392           114.21      116.28        2.07        3.59         418
    -------------------------------------------------------------------------
    includes          114.80      115.48        0.68        6.99         951
    -------------------------------------------------------------------------
    and               134.80      135.80        1.00        1.23         189
    -------------------------------------------------------------------------
    SJD-398           125.80      126.30        0.50        6.30       1,074
    -------------------------------------------------------------------------
    SJD-401           115.60      116.05        0.45        0.45          47
    -------------------------------------------------------------------------
    SJD-403           150.20      151.80        1.60        5.20          72
    -------------------------------------------------------------------------
    SJD-404           222.10      222.90        0.80        0.99          33
    -------------------------------------------------------------------------
    SJD-409            60.87       62.40        1.53        1.05         131
    -------------------------------------------------------------------------
    SJD-412           116.66      118.34        1.68       52.44       1,147
    -------------------------------------------------------------------------
    and               122.53       123.3        0.77        4.43         335
    -------------------------------------------------------------------------
    SJD-414            58.70       61.50        2.80        6.23         110
    -------------------------------------------------------------------------
    SJD-419           115.53      116.50        0.97        3.32          90
    -------------------------------------------------------------------------
    SJD-420           234.50      235.00        0.50        0.53          95
    -------------------------------------------------------------------------
    SJD-423           136.76      137.18        0.84        3.52         388
    -------------------------------------------------------------------------
    Ayelén
    -------------------------------------------------------------------------
    SJD-363             74.4        75.9        1.50        2.57         297
    -------------------------------------------------------------------------
    and               168.70      169.70        1.00        5.97         587
    -------------------------------------------------------------------------
    SJD-364
    -------------------------------------------------------------------------
    SJD-374           155.66      156.85        1.19       11.67         721
    -------------------------------------------------------------------------
    SJD-385           106.15      115.40        9.25        4.10         248
    -------------------------------------------------------------------------
    includes          106.87      108.35        1.48       11.95         240
    -------------------------------------------------------------------------
    and               111.95      115.40        3.45        3.65         343
    -------------------------------------------------------------------------
    SJD-387           204.68      205.68        1.00        0.48          62
    -------------------------------------------------------------------------
    SJD-390           203.20      204.09        0.89        1.10         196
    -------------------------------------------------------------------------
    SJD-394           228.70      229.80        1.10        3.30         482
    -------------------------------------------------------------------------
    SJD-397           186.88      187.90        1.02       28.22       1,759
    -------------------------------------------------------------------------
    SJD-406           177.93      178.90        0.97        0.04         450
    -------------------------------------------------------------------------
    SJD-412            135.4      140.53        5.13        7.11         382
    -------------------------------------------------------------------------
    and               138.81      140.53        1.72       15.41         461
    -------------------------------------------------------------------------
    SJD-420           234.50      235.00        0.50        0.53          95
    -------------------------------------------------------------------------
    SJD-421           208.20      210.25        2.05        4.60         294
    -------------------------------------------------------------------------
    SJD-422           118.35      119.10        0.75        0.13          39
    -------------------------------------------------------------------------
    SJD-425            94.35       96.00        1.65        4.86          67
    -------------------------------------------------------------------------
    SJD-426           234.07      237.02        2.95        5.41         804
    -------------------------------------------------------------------------
    including         234.63      236.16        1.53        8.21       1,161
    -------------------------------------------------------------------------
    SJD-427            75.45       77.90        2.45        6.42         861
    -------------------------------------------------------------------------
    SJD-428            77.65       79.20        1.55       15.41         736
    -------------------------------------------------------------------------
    SJD-429           101.68      103.20        1.52        4.51         584
    -------------------------------------------------------------------------
    SJD-430           236.37      237.00        0.63        4.54         656
    -------------------------------------------------------------------------
    and               241.34      243.44         2.1        3.05         308
    -------------------------------------------------------------------------
    SJD-431           124.70      125.04        0.34        0.01         684
    -------------------------------------------------------------------------

    (*) All of the drill holes are angle holes. True thickness of the vein is
        undetermined.
    

    To view maps: Long section of Odin Vein, San José Project, Santa Cruz,
Argentina and Long section of Ayelén Vein, San José Project, Santa Cruz,
Argentina, please click on the following link:
http://files.newswire.ca/530/Minera_Andes_Maps.pdf

    In addition to the holes listed in the table above, four holes (SJD-370,
372, 377, and 395) were drilled in the Lourdes target plus five holes
(SJD-400, 402, 405, 408, and 413) were drilled in the Frigga target and one
hole SJD-396 was drilled at the Kospi vein. These holes encountered quartz
veining and/or hydrothermal breccia that did not return values above
background levels of gold and silver. Although only background gold and silver
values were encountered, the geologic features identified at these targets are
consistent with precious metal-bearing epithermal systems. One goal of this
reconnaissance drilling is to identify promising geologic trends that will be
further tested in order to explore for high-grade shoots typical of the
mineralization found at the Frea, Kospi, and Huevos Verdes veins. Also,
several other targets, such as Aguas Vivas to the north, remain to be drill
tested on the property. Assay results are pending on drill holes SJD-407 and
SJD-408.
    At Odin drill holes SJD-373, 393, and 399 did not intersect the vein and
holes SJD-362, 365, 407, 415, and 424 contained no gold and silver values.
Assay results are pending for Odin holes SJD-410, 411, 418, 438, and 440. At
Ayelén drill holes SJD-378, 380, and 411 intersected the quartz vein without
precious metal values and assay results are pending on SJD-416, 432-439, 441,
and 443.
    Assay results for the drilling were reviewed by Brian Gavin, Minera
Andes' vice president, exploration, who is 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 fire assay and ICP analysis. Accuracy of results is tested through the
systematic inclusion of standards, blanks and check assays.

    Minera Andes is a gold, silver and copper exploration company working in
Argentina. The Corporation holds about 410,000 acres of mineral exploration
land in Argentina including the co-owned San José silver/gold mine that has
recently commenced production. Minera Andes is also 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
189,324,935 shares issued and outstanding.

    This news is submitted by Allen V. Ambrose, President and Director of
Minera Andes Inc.

    Caution Concerning 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.
Investors should be aware that the introduction of new technology such as ILR
can create added risk in achieving metallurgical performance. 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. In particular,
there can be no assurance that commercial production at the San José mine will
be achieved on a timely basis, or at all, that production capacity at the San
José mine will be successfully increased, that resources and reserves at the
San José mine will be increased or that Minera Andes will successfully raise
the funds necessary to maintain its interest in the San José mine. 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, the state of the capital markets,
environmental risks and hazards, uncertainty as to calculation of mineral
reserves and other risks. We refer readers to the risk factors and
uncertainties described in the Company's continuous disclosure record, a copy
of which is available under the Company's profile at www.sedar.com. Minera
Andes' joint venture partner, a subsidiary of Hochschild Mining plc, and its
affiliates do not accept responsibility for the use of project data or the
adequacy or accuracy of this release.

    Cautionary Note to U.S. Investors:

    The United States Securities and Exchange Commission (the "SEC") permits
mining companies, in their filings with the SEC, to disclose only those
mineral deposits with "mineral reserves" that a company can economically and
legally extract or produce. We use certain terms in this press release, such
as "mineral resources", that the SEC guidelines strictly prohibit us from
including in our filings with the SEC, because these terms are common usage in
Canada and form part of our Canadian filing requirements.





For further information:

For further information: 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

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