VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 5, 2012) - AndeanGold Ltd. (the "Company" or "AndeanGold") (TSX VENTURE:AAU)(LMA:AAU) is pleased to announce that it has increased its previously announced private placement (the "Placement") (news releases of November 2, 2012 and November 15, 2012) from $1,200,000 to $1,271,500 and has closed (the "Closings") two additional tranches of the Placement. The Placement is being made on a non-brokered basis in Canada, and on a brokered basis in South America. Kallpa Securities SAB ("Kallpa"), based in Lima, Peru, is agent for any units sold to qualified South American investors. Kallpa was the sponsoring broker to the Company's recent listing on the Lima Stock Exchange.

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