AAG Aftermath Silver Ltd

Andean American Gold Corp. ("Andean" or the "Company") (TSX
VENTURE:AAG)(FRANKFURT:AQN) announces that it has reached a debt settlement
arrangement with Sinchao Metals Corp. ("Sinchao") in relation to certain
outstanding debt owed by Sinchao to the Company.


The Company has agreed to accept 8,888,889 common shares at a deemed price of
$0.09 per share in settlement of $800,000 of indebtedness owing by Sinchao to
the Company.


In addition, the Company has agreed to a private placement in Sinchao of a
further 2,222,222 units at a price of $0.09 per unit for total investment of
$200,000. Each unit will be comprised of one common share and one share purchase
warrant, such warrant entitling the holder to acquire a further common share of
the Company at a price of $0.12 for a term of five (5) years. 


Closing of the private placement and the debt settlement are subject to the
acceptance of the TSX Venture Exchange and the debt settlement remains subject
to ratification by the shareholders of Sinchao at its annual general meeting on
September 15, 2011.


Commenting on the private placement, David Rae, President and Chief Executive
Officer of Andean said, "We continue to believe that the Sinchao property holds
significant existing and future mineral potential, despite the reduction in the
inferred resources. As the majority shareholder of Sinchao Metals, our interests
are aligned with those of Sinchao and we will continue to provide Sinchao with
our support as it seeks to maximize value from its assets."


Annual and Special Meeting of Shareholders

The Andean American Annual General and Special Meeting of Shareholders is
scheduled for Thursday, September 15, 2011 at 11:30 am EST. The meeting will be
held at:




Cambridge Suites Hotel Toronto
Richmond Room
15 Richmond Street East, 
Toronto, Ontario
M5C 1N2



We look forward to meeting with those shareholders who are able to attend.

On behalf of Andean American Gold Corp.

Bruce Ramsden, Vice President, Finance and CFO

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