Andean Precious Metals Announces Fire at Golden Queen’S Secondary Crusher; Operations Continue
ANDEAN PRECIOUS METALS ANNOUNCES FIRE AT GOLDEN
QUEEN’S SECONDARY CRUSHER; OPERATIONS CONTINUE
TORONTO, Ontario, December 14, 2023 – Andean Precious Metals Corp. (TSX-V: APM,
OTCQX: ANPMF) (“Andean” or the “Company”) announced that operations continue at
Golden Queen despite a fire at the secondary crusher. There were no injuries due to the fire
and applicable regulatory authorities have been notified.
The fire started last night at approximately 9:00 pm PT within the secondary crusher around
the screen deck. Most of the fire lasted for an hour. The Company will be conducting
extensive inspections to ascertain the cause of the fire and the full extent of the damage.
While the full impact of the fire is yet to be fully assessed, the secondary crusher will be down
until repaired, delaying the stacking of new ore on the pad. The Company will continue to
leach and produce metal; however, it is expected that there will be an impact on solution
grade. Short-term mine production plans will be in effect.
The Company will provide a further update once a full assessment is completed.
The Company has insurance in place, which includes business interruption coverage.
About Andean Precious Metals Corp.
Andean is a growing precious metals producer focused on top-tier jurisdictions in the
Americas. The Company owns and operates the San Bartolomé processing facility in Potosí,
Bolivia and the Soledad Mountain mine in Kern County, California, and is well-funded to act
on future growth opportunities. Andean’s leadership team is committed to creating value;
fostering safe, sustainable and responsible operations; and achieving our ambition to be a
multi-asset, mid-tier precious metals producer.
For more information, please contact:
Trish Moran Anna Speyer
VP Investor Relations NATIONAL Capital Markets
[email protected] [email protected]
T: +1 416 564 4290 T: +1 416 848 1376
Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
Certain statements and information in this release constitute "forward -looking statements"
within the meaning of applicable U.S. securities laws and "forward-looking information" within
the meaning of applicable Canadian securities laws, which we refer to collectively as "for-
ward-looking statements". Forward -looking statements are statements and information re-
garding possible events, conditions or results of operations that are based upon assumptions
about future economic conditions and courses of action. All statements and information other
than statements of historical fact may be forward -looking statements. In some cases, for-
ward-looking statements can be identified by the use of words such as "seek", "expect", "an-
ticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "po-
tential", "target", "may", "could", "would", "might", "will" and similar words or phrases (includ-
ing negative variations) suggesting future outcomes or statements regarding an outlook.
Forward-looking statements in this release include, but are not limited to, statements and
information regarding: the impact of the fire, the ability of the Company to continue mining
and leach operations at Golden Queen . Forward-looking statements are necessarily based
on a number of estimates and assumptions, while considered reasonable by the Company
as at the date of this press release in light of management's experience and perception of
current conditions and expected developments, are inherently subject to significant business,
economic and competitive uncertainties and risks. Such forward -looking statements are
based on a number of material factors and assumptions, including, but not limited to: the
Company’s ability to carry on mining and leach operations while the fire investigation pro-
ceeds; the Company’s ability to recover under applicable insurance policies; that there is no
material adverse change affecting the Company or its properties; that contracted parties pro-
vide goods or services in a timely manner; that no unusual geological or technical problems
occur; that plant and equipment function as anticipated and that there is no material adverse
change in either the price of silver or costs associated with production or recovery. Known
and unknown risks, uncertainties and other factors which may cause actual results, perfor-
mance or achievements, or industry results, to differ materially from those anticipated in such
forward-looking statements set out herein. The Company believes the expectations reflected
in such forward-looking statements are reasonable, but no assurance can be given that these
expectations will prove to be correct, and you are cautioned not to place undue reliance on
forward-looking statements contained herein.
Some of the risks and other factors which could cause actual results to differ materially from
those expressed in the forward-looking statements contained in this release include, but are
not limited to: risks and uncertainties relating to the interpretation of drill results, the geology,
grade and continuity of mineral deposits and conclusions of economic evaluations; results of
initial feasibility, pre-feasibility and feasibility studies, and the possibility that future explora-
tion, development or mining results will not be consistent with the Company's expectations;
risks relating to possible variations in reserves, resources, grade, planned mining dilution and
ore loss, or recovery rates and changes in project parameters as plans continue to be refined;
mining and development risks, including risks related to accidents, equipment breakdowns,
labour disputes (including work stoppages and strikes) or other unanticipated difficulties with
or interruptions in exploration and development, including risks relating to permitting; the po-
tential for delays in exploration or development activities or the completion of feasibility stud-
ies; risks related to the inherent uncertainty of production and cost estimates and the potential
for unexpected costs and expenses; risks related to commodity prices and foreign exchange
rate fluctuations; the uncertainty of profitability based upon the cyclical nature of the industry
in which the Company operates; risks related to failure to obtain adequate financing on a
timely basis and on acceptable terms or delays in obtaining governmental or local community
approvals or in the completion of development or construction activities; risks related to en-
vironmental regulation and liability; political, legal and regulatory risks associated with mining
and exploration; risks related to the uncertain global economic environment; and other factors
contained in the section entitled "Risk Factors" in the Company's Management Discussion
and Analysis for the period ended September 30, 2023 dated November 29, 2023.
Many of these uncertainties and contingencies can affect our actual results and could cause
actual results to differ materially from those expressed or implied in any forward-looking state-
ments made by, or on behalf of, us. Readers are cautioned that forwa rd-looking statements
are not guarantees of future performance. All of the forward-looking statements made in this
press release are qualified by these cautionary statements. Specific reference is made to the
Risk Factors section in the Company's most rece nt MD&A on file with Canadian provincial
securities regulatory authorities for a more detailed discussion of some of the factors under-
lying forward -looking statements and the risks that may affect the Company's ability to
achieve the expectations set forth in the forward-looking statements contained in this press
release. The Company disclaims any intention or obligation to update or revise any forward-
looking statements whether as a result of new information, future events or otherwise, except
as required by applicable law.