Minera Andes announces remaining results from 2008 San José drilling



    
    TSX: MAI
    NASD-OTCBB: MNEAF
    

    SPOKANE, WA, Jan. 9 /CNW/ - Minera Andes Inc. (TSX: MAI and US OTC:
MNEAF) today announced results received from drilling that was recently
completed at the San José mine in southern Argentina. 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. Hochschild is the operator of MSC. Infill and
step-out drilling on several veins continues to indicate further potential to
expand the areas of mineralization on the property. One of the highest-grade
intercepts from this drilling campaign was in hole SJD-478 and encountered
30.92 grams per metric ton "g/t" (0.90 ounces per short ton "opt") gold and
778 g/t (22.7 opt) silver over an intercept thickness of 1.56 meters (see
table below).
    Between August and December 2008, 46 core holes totaling 11,278 meters
were completed as part of the 2008 drilling program in which a total of 18,694
meters were drilled on the Frea, Odin, Ayelen and Kospi veins. These
high-grade gold/silver veins were discovered in late 2005 through
reconnaissance drilling of blind geophysical targets. A NI 43-101 technical
report is underway to update the reserves and resources at San José. This
technical report will reflect approximately 27,478 meters of drilling covering
the 12 month period that occurred between June 30, 2007 and June 30, 2008 but
will not contain the results that are the subject of this news release. The
report is anticipated to be completed in the first quarter of 2009 upon
receipt of technical information to be provided by MSC. The results described
in this news release are expected to be part of another technical report due
out later this year that will reflect drilling results to year end 2008.
    The majority of the 2008 drilling has been concentrated on the Odin and
Ayelén veins covering approximately 2.8 kilometers of strike length along
these open-ended mineralized veins. Drilling completed last year extended the
known mineralization along the Odin and Ayelén vein trends for 1,000 meters
along strike - or a 64% increase from the discovery drilling in 2005. The
drill results presented here focused on the Odin vein and a subsidiary
structure at the Frea vein. Several holes were also drilled on the Kospi, Frea
and Huevos Verde veins.
    The development and discovery of new mineralization demonstrates the
large mineral potential of the San José property where more than 40 kilometers
of vein-trend target is currently known to exist, of which less than 15% has
been explored to date.

    Odin Vein

    During the 2008 campaign 37 holes have been completed on the Odin vein
(bringing the total to 88 holes) along approximately 1600 meters along the
strike of the vein, to a depth of approximately 200 meters. Highlights of the
program included the identification of massive and banded quartz veining with
disseminated pyrite and argillic alteration. The Odin vein remains open to the
west along strike and to depth.
    The highest-grade intercept was in hole SJD-478 (described above). Hole
SJD-483 intercepted 2.12 meters of 6.91 g/t (0.20 opt) gold and 486 g/t (14.2
opt) silver (SJD-483).

    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. The drill
results presented here are for veins subsidiary to the main Frea vein which is
currently in production (see table below for results).

    
    -------------------------------------------------------------------------
       2008 Drilling Results from July 31 to December 31, San José Project
    -------------------------------------------------------------------------
                         From        To      Interval(*)    Au         Ag
    Drill Hole/Vein    (meters)   (meters)    (meters)     (g/t)      (g/t)
    -------------------------------------------------------------------------
    SJD-478 ODIN        122.44     124.00       1.56       30.92       778
    -------------------------------------------------------------------------
    SJD-479 FREA(xx)    185.10     185.58       0.48        3.67       163
    -------------------------------------------------------------------------
                        210.69     212.20       1.51        7.84        52
    -------------------------------------------------------------------------
                        224.24     224.54       0.30        5.07       499
    -------------------------------------------------------------------------
                        227.78     228.12       0.34        3.23       104
    -------------------------------------------------------------------------
                                                         less than
    SJD-480 ODIN        182.90     183.26       0.36        0.15         9
    -------------------------------------------------------------------------
    SJD-481 ODIN                         No vein encountered
    -------------------------------------------------------------------------
    SJD-482 ODIN        172.80     174.65       1.85       18.69     1,506
    -------------------------------------------------------------------------
    SJD-483 ODIN        132.25     133.50       1.25        3.91       280
    -------------------------------------------------------------------------
                        251.73     253.85       2.12        6.91       486
    -------------------------------------------------------------------------
    SJD-484 FREA(xx)    203.80     204.50       0.65       10.30      1176
    -------------------------------------------------------------------------
    SJD-485 FREA(xx)    251.50     252.05       0.55        0.20        17
    -------------------------------------------------------------------------
    SJD-486 FREA(xx)                     No vein encountered
    -------------------------------------------------------------------------
    SJD-487 ODIN                         No vein encountered
    -------------------------------------------------------------------------
                                                         less than
    SJD-488 ODIN         249.2      249.6       0.40        0.15         3
    -------------------------------------------------------------------------
    SJD-489 ODIN        184.30     184.74       0.44        9.27       946
    -------------------------------------------------------------------------
                                                         less than  less than
    SJD-490 KOSPI       110.44     110.90       0.46        0.15         2
    -------------------------------------------------------------------------
                                                         less than  less than
                        155.15     155.45       0.30        0.15         2
    -------------------------------------------------------------------------
                                                         less than  less than
                        166.30     166.60       0.30        0.15         2
    -------------------------------------------------------------------------
    SJD-491 FREA(xx)    196.26     197.10       0.84     No results reported
    -------------------------------------------------------------------------
    SJD-492 ODIN        220.46     221.25       0.79        1.50       115
    -------------------------------------------------------------------------
                        300.27     302.02       1.75        1.13        59
    -------------------------------------------------------------------------
                                                         less than  less than
    SJD-493 ODIN        240.48     243.45       2.97        0.15         2
    -------------------------------------------------------------------------
    SJD-494 ODIN        225.10     225.40       0.30       10.90        92
    -------------------------------------------------------------------------
                                                         less than  less than
                        302.00     302.60       0.60        0.15         2
    -------------------------------------------------------------------------
    SJD-495 ODIN        252.50     255.20       2.70        6.03       952
    -------------------------------------------------------------------------
    SJD-496 FREA        170.45     172.65        2.2        1.63       193
    -------------------------------------------------------------------------
                                                         less than  less than
    SJD-497 ODIN        267.00     268.45       1.45        0.15         2
    -------------------------------------------------------------------------
    SJD-498 FREA(xx)    132.25     132.90       0.65        1.43       108
    -------------------------------------------------------------------------
                        140.20     140.55       0.35        1.40       113
    -------------------------------------------------------------------------
    (Frea vein)         149.10     154.20       5.10        2.84       203
    -------------------------------------------------------------------------
                        224.15     225.00       0.85       21.73      1502
    -------------------------------------------------------------------------
    SJD-499 ODIN        174.95     175.55       0.60        2.10        45
    -------------------------------------------------------------------------
                                                         less than  less than
    SJD-500 ODIN        300.00     300.30       0.30        0.15         2
    -------------------------------------------------------------------------
    SJD-501 ODIN        259.35     261.42       2.07        0.97        42
    -------------------------------------------------------------------------
                                                         less than  less than
    SJD-502 HV OESTE    130.67     130.97       0.30        0.15         2
    -------------------------------------------------------------------------
    SJD-503 FREA(xx)    220.85     223.60       2.75        6.63       837
    -------------------------------------------------------------------------
                        239.25     240.60       1.35        2.33       116
    -------------------------------------------------------------------------
                                                         less than  less than
    SJD-504 HV SUR      119.58     120.58       1.00        0.15         2
    -------------------------------------------------------------------------
                                                         less than
    SJD-505 HV SUR       90.40      90.77       0.37        0.15         5
    -------------------------------------------------------------------------
    SJD-506 FREA         89.77      91.23       1.46        1.53       319
    -------------------------------------------------------------------------
                        215.58     216.43       0.85        0.70        89
    -------------------------------------------------------------------------
                                                         less than  less than
    SJD-507 HV NORTE     89.03      94.15       5.12        0.15         2
    -------------------------------------------------------------------------
                         96.00      99.86       3.86        0.22        71
    -------------------------------------------------------------------------
                                                         less than  less than
    SJD-508 HV NORTE    178.55     179.20       0.65        0.15         2
    -------------------------------------------------------------------------
    SJD-509 E. FREA/                                     less than
     KOSPI               99.80     100.15       0.35        0.15         3
    -------------------------------------------------------------------------
                                                         less than  less than
                        144.00     145.55       0.55        0.15         2
    -------------------------------------------------------------------------
    SJD-510 E. FREA/                                     less than  less than
     KOSPI              201.70     202.25       0.55        0.15         2
    -------------------------------------------------------------------------
    SJD-511 E. FREA/                                     less than
     KOSPI              134.70     135.90       1.20        0.15         8
    -------------------------------------------------------------------------
    SJD-512 E. FREA/                                     less than  less than
     KOSPI              127.15     128.20       1.05        0.15         2
    -------------------------------------------------------------------------
                                                         less than  less than
                        186.20     186.95       0.75        0.15         2
    -------------------------------------------------------------------------
    SJD-513 E. FREA(xx) 100.05     103.50       3.45        0.99        57
    -------------------------------------------------------------------------
                                                         less than  less than
    SJD-514 KOSPI       111.90     112.65       0.75        0.15         2
    -------------------------------------------------------------------------
                                                         less than  less than
                        135.45     135.80       0.35        0.15         2
    -------------------------------------------------------------------------
                                                         less than  less than
    SJD-515 AYELEN      232.90     235.75       2.85        0.15         2
    -------------------------------------------------------------------------
                                                         less than  less than
                        245.30     259.30      14.00        0.15         2
    -------------------------------------------------------------------------
    SJD-516 KOSPI/FREA                   No vein encountered
    -------------------------------------------------------------------------
                                                         less than  less than
    SJD-517 KOSPI       190.50     193.40       2.90        0.15         2
    -------------------------------------------------------------------------
    SJD-518 AYELEN                       No vein encountered
    -------------------------------------------------------------------------
    SJD-519 KOSPI                                NIL
    -------------------------------------------------------------------------
    SJD-520 AYELEN       85.50      86.50       1.00        0.47        82
    -------------------------------------------------------------------------
    SJD-521 FREA                         No vein encountered
    -------------------------------------------------------------------------
    SJD-522 ODIN        159.40     160.25       0.85        0.20        34
    -------------------------------------------------------------------------
                                                         less than  less than
                        267.40     268.40       1.00        0.15         2
    -------------------------------------------------------------------------
                                                         less than  less than
    SJD-523 HV OESTE    108.75     109.30       0.55        0.15         2
    -------------------------------------------------------------------------
    (*)  All of the drill holes are angle holes. True thickness of the vein
         is undetermined.
    (xx) Subsidiary vein
    

    Assay results were reported to Minera Andes by MSC, which is the
operating company for the San José joint venture. Assay results for the
drilling were reviewed by Brian Gavin, Minera Andes' Vice President,
Exploration, who is a 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 Company holds about 304,000 acres of mineral exploration land
in Argentina including the 49% owned San José silver/gold mine. Minera Andes
is also exploring the Los Azules copper project in San Juan province, where an
exploration program has defined a resource and a scoping study is underway.
Other exploration properties, primarily silver and gold, are being evaluated
in southern Argentina. The Corporation presently has 190,158,851 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", which
may include, but are not limited to, 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, 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.





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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