Andean Precious Metals Announces Golden Queen Min- Ing Returns to Full Production Following December Fire
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ANDEAN PRECIOUS METALS ANNOUNCES GOLDEN QUEEN MIN-
ING RETURNS TO FULL PRODUCTION FOLLOWING DECEMBER
FIRE
TORONTO, Ontario, January 30, 202 4 – Andean Precious Metals Corp. (TSX -V: APM,
OTCQX: ANPMF) (“Andean” or the “Company”) today announced that its wholly owned
subsidiary, Golden Queen Mining LLC , has returned to normal production following the
previously announced fire on December 13, 2023.
The secondary crusher circuit, which was damaged in the fire, is now repaired and fully
operational.
“I’d like to thank our team and our trusted suppliers and contractors for their tireless efforts in
completing equipment repairs in a timely and efficient manner,” said Alberto Morales, Executive
Chair and CEO. “While the extent of the structural damage was not as serious as first anticipated,
their efforts helped us return to regular operations and full production weeks earlier than
anticipated.”
As previously announced, the Company expects lower production in the first quarter of 2024 due
to the fire; however, Golden Queen’s full-year 2024 production is not anticipated to be materially
affected. The Company's 2024 guidance will be outlined at the end of March with the release of
its 2023 financial and operating results.
Golden Queen Mining operates the Soledad Mountain mine and heap leach operation in Kern
County, Southern California.
About Andean Precious Metals Corp.
Andean is a growing precious metals producer focused on expanding into 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
VP Investor Relations
T: +1 416 564 4290
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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 "forward -
looking statements". Forwa rd-looking statements are statements and information regarding
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, forward-looking
statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget",
"plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may",
"could", "would", "might", "will" and similar words or phrases (including 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 Company’s expectations of lower production in the first quarter 2024
and that production for 2024 will not be materially affected, and timing of the release of the
Company’s 2024 guidance. Forward-looking statements are necessarily based on 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 proceeds; 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 provide 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, performance or achievements, or industry r esults, 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 exploration,
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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 potential for delays in
exploration or development activities or the completion of feasibility studies; 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 environmental regulation and liability;
political, legal and reg ulatory 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
statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements
are not guarantees of future performance. All 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 recent MD&A on file with Canadian provincial securities
regulatory authorities for a more detailed discussion of some of the factors underlying 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.