Andean Silver

Andean Silver is pleased to release its Quarterly Activities Report for the quarter ended 30 September 2024. Our CEO Tim Laneyrie said: “Andean reported an 80% increase in the Cerro Bayo Resource during the quarter. This was an outstanding result considering we only took ownership of the project at the end of Q1 2024. “But the reality is, we are just getting started. The wealth of outstanding drilling results we have generated since we acquired Cerro Bayo remain outside the Resource. We are now in the process of updating the inventory to bring these results into our Resource model. “And we have highlighted the potential for further substantial resource increases beyond the next update, with the discovery of extensive vein systems over a very large area. The bonanza rock chip results from this area demonstrate the huge ongoing upside at Cerro Bayo. “We now have overwhelming evidence that Cerro Bayo has potential to generate vast, high-grade Resource growth. All of this is at a time when the outlook for silver is extremely bright, with many analysts forecasting a large supply deficit on the back of silver’s rapidly growing use in solar panels and other cutting-edge technology applications." Read the report here: https://loom.ly/SFgdZA0

Last week, our CEO Tim Laneyrie presented at the Latin Rocks 2024 conference in Santiago, which showcased innovation and investment in Chile and the wider region. Tim's presentation provided an update on the latest exploration activities underway at our Cerro Bayo #Silver-#Gold Project in Chile, where we recently upgraded the resource estimate to 91Moz AgEq at 342g/t silver-equivalent.

Andean's senior management team recently hosted a site visit at our Cerro Bayo Silver-Gold Project in Chile, a fantastic day connecting with investors and analysts 📸 We are continuing with aggressive drilling at Cerro Bayo to further grow its resource, with 40,000m of drilling planned for FY25.

Andean has reached an agreement with the vendor of our flagship Cerro Bayo Silver-Gold Project in Chile, Equus Mining Ltd (ASX: EQE), to settle the final deferred consideration component for the acquisition early for A$750,000 in cash. The early payment follows our highly successful recent $25m capital raising and results in a $250,000 saving for Andean, and reflects the company's confidence in achieving upcoming Resource growth milestones. Our CEO Tim Laneyrie said: “We are very pleased to have reached agreement with Equus to settle the deferred consideration early via a reduced cash payment of $750,000. Our recent highly successful capital raising has given us the financial flexibility to make this payment, while ensuring we are well-funded for what will be a huge 12 months ahead for Andean as we continue to drill aggressively to grow our Resource." Read more: https://loom.ly/xM0FX84

Andean Silver is pleased to announce the appointment of highly experienced mining executive David Southam as Non-Executive Chair as part of a Board transition effective from 1 October 2024. Mr Southam has been a Non-Executive Director of Andean since 17 April 2024 and will succeed current Non-Executive Chair Ray Shorrocks, who oversaw Andean’s transformational acquisition of the Cerro Bayo Silver Project in Chile earlier this year. With the recent completion of a highly successful $25 million capital raising and in light of Andean’s rapid progress and growth over the past eight months, the Board believes now is the right time to transition the Chair role as the Company moves into its next phase of growth. Mr Southam is a highly experienced resources professional, both as a CEO/Executive and as a Non-Executive Director. He has a successful history as a project developer, with a strong track record and wide range of connections in global capital markets, M&A transactions and off-take negotiation, amongst other things. Read more: https://loom.ly/sG4492s

2024 Annual Report:

Andean CEO Tim Laneyrie will present at the upcoming Latin Rocks 2024 conference. The two-day event taking place 9-10 October in Santiago, Chile will focus on exploration, innovation and investment in the region. Tim will provide an update on our Cerro Bayo Project on Thursday October 10, 9:40am CLST. View the full program and more information on the event here: https://loom.ly/nI19vws

Andean Silver raises $25m to advance exploration at Cerro Bayo project.

We have received firm commitments totalling A$25m via a Placement to institutional and sophisticated investors. Our CEO Tim Laneyrie said: “The overwhelming demand for the Placement and the quality of investors reflects the outstanding exploration and resource growth outlook at Cerro Bayo. In just seven months of ownership, the team has delivered an increase of 66Moz AgEq in Mineral Resources, taking it to 91Moz AgEq. We have also made significant discoveries which remain outside the Mineral Resource Estimate. “The proceeds of this Placement will mean we can add extra firepower to discovery and Resource conversion with up to four drill rigs on-site over the coming months. We remain on target to deliver our next Mineral Resource upgrade in the first quarter next calendar year and look forward to future results from Pegaso 7, Droughtmaster, Cristal and multiple other prospects. “We have demonstrated the potentially significant scale of Cerro Bayo at a time when the demand for silver is increasing and stockpiles are being drawn to meet the demand in areas such as solar panel construction." Read more: https://loom.ly/dXQZdek

2024 Precious Metals Summit Presentation: