Oroandes Announces Private Placement

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

910 - 510 Burrard Street, Vancouver, British Columbia, V6C 3A8

FOR IMMEDIATE RELEASE TSX-V:OAR

OROANDES ANNOUNCES PRIVATE PLACEMENT

Vancouver, British Columbia – September 16, 2011 – OroAndes Resource Corp. (the “Company”) announces a proposed non-brokered private placement of up to 3,000,000 flow-through units (the “FT Units”) of the Company at a price per FT Unit of $0.125 and up to 3,750,000 non-flow-through units (the “Non-FT Units”) of the Company at a price per Non-FT Unit of $0.10 for aggregate proceeds of up to $750,000. Each FT Unit will consist of one flow-through common share in the capital of the Company and one non-transferable share purchase warrant (a “Warrant”) and each Non-FT Unit will consist of one non-flow-through common share in the capital of the Company and one Warrant. Each Warrant entitles the holder to purchase one additional non-flow-through common share at a price of $0.15 per share for a period of two years from the completion of the private placement.

Finder’s fees in amounts yet to be determined may be paid to persons who introduce the Company to investors. In accordance with applicable securities legislation, all securities issued will be subject to a hold period of four months and a day from the date of completion of the private placement. The proceeds of the private placement will be used by the Company to incur exploration expenditures on its Kilometre 26 Project (the “Property”) located in the province of British Columbia and for general corporate purposes. More information on the Property, including information on the Company’s intention to acquire a 100% interest in the Property from Eastfield Resources Ltd., can be found in the Company’s news release dated September 12, 2011.

For further information, please contact:

Head Office: Tel. 604-662-8186 Sandy MacDougall Fax 604-662-8170 President and Chief Executive Officer www.oroandes.com

This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although OroAndes believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of OroAndes’ management on the date the statements are made. OroAndes Resource Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.