AGCZ Andes Gold Corp (CE)

Andes Gold Corp. (PINKSHEETS: AGCZ), a gold mining company with existing operations in Ecuador, today released its financial statements for the first quarter ended March 31, 2012. The report was filed and is available on Pink Sheets.

The report for the first quarter ended March 31, 2012 shows total revenues of $1,269,965 compared to revenues of $705,915 for the first quarter last year. This is an increase of $564,050 or 80% over the prior year. Net profits for the period ended March 31, 2012 were $202,176 compared to $105,250 last year, an increase of $96,926 or 92%. This increase in profits was obtained despite increases in wages and salaries from $82,276 to $148,756 and an increase in materials and mining supplies from $80,317 to $193,976. The increases in expenses for the first quarter are a result of increased production that will be reflected in the second quarter of 2012.

Based on the results obtained in the first quarter, the Company is projecting revenues in excess of $5,000,000 and net profits in excess of $800,000 for the year ended December 31, 2012. These projections are a significant increase over the previous year. As we increase production and our milling operations, we anticipate that the revenues will continue growing at an accelerated rate.

Andes Gold Corp trades in the United States on the Pink Sheets under the symbol "AGCZ".

The complete financial report is available online at: http://www.otcmarkets.com/stock/AGCZ/financials

About Andes Gold Corporation

Andes Gold engages in mining and milling gold and silver in Ecuador. The company is currently producing on concessions located in the cantons of Zaruma and Portovelo, province of El Oro, southern Ecuador. These concessions are producing gold and silver ore which is being processed in a company-owned mill. For additional information, visit www.andesgoldmine.com or contact the Company at (561) 210 8496.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause actual results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include product demand, market competition, and Andes Gold's ability to meet current or future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. Andes is not obliged to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences, except as required under applicable laws.

For additional information Andes Gold Corp. (561) 210 8496 www.andesgoldmine.com