News Agencies Oroandes Announcing Private Placement Financing and Increase to Option Exercise Pricing

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

FOR IMMEDIATE RELEASE TSX-V:OAR

OROANDES ANNOUNCING PRIVATE PLACEMENT FINANCING AND INCREASE TO OPTION EXERCISE PRICING

Vancouver, British Columbia – April 12, 2010 – OroAndes Resource Corp. (the “Company”) announces a proposed non-brokered private placement of up to 3,530,000 units (the “Units”) of the Company at a price per Unit of $0.085 for aggregate proceeds of up to $300,050. Each Unit will consist of one common share in the capital of the Company and one non-transferable share purchase warrant, each warrant entitling the holder to purchase one additional common share at a price of $0.11 for five years from the closing of the offering.

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 financing. The proceeds of the private placement will be used by the Company for general corporate purposes.

Further to its news release of March 1, 2010, the Company announces that it has increased the exercise price of incentive stock options entitling the purchase of an aggregate 1,260,000 common shares from $0.08 per share to $0.10 per share.

For further information, please contact:

Head Office: Tel. 604-662-8186 Sandy MacDougall Fax 604-662-8170 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.