Andean American Announces Bridge Loan and Gold Offtake Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 6, 2010) - Andean American Mining Corp. ("the Company") (TSX VENTURE:AAG)(FRANKFURT:AQN) is pleased to announce an agreement with a prominent metals trader to further advance the Invicta Mining Project.

The agreement is to provide a Bridge Facility in exchange for the right to buy gold and silver production from the Invicta Mine.

The Facility includes the following:

Facility Amount:	US$8,000,000*
Closing:	June 1, 2010 or earlier;
Tenor:	12 months from closing;
Security:	A Deed of Trust registered against the properties of Invicta Mining Corp.
Warrants:	To purchase two million shares for a term of two years from closing with one million exercisable at C$0.55 and one million exercisable at C$0.65 per share;
Upfront Fees:	5.5% flat, payable upon closing
Use of the Facility:	To fund ongoing Invicta Project feasibility study updates, bank documentation, project and related working capital requirements;
*less interest and legal fees

The financing is subject to final approval from the TSX Venture Exchange.

The Marketing Agreement includes the following:

Material:	100% of Dore Bar Production until 450,000 equivalent ounces have been delivered (silver at 1/65 of gold)
Gold Price:	London Gold Market Au fixing less the discount on date of payment
Discount:	$16.00 per troy ounce
Payment:	2 business days after delivery
Compliance:	Fully compliant with senior lenders loan documentation
Use of Proceeds:	To Andean American's pool account

"We are pleased to put these agreements in place. The Invicta Mining Project takes another step towards completing all our finance requirements including acceleration of our community agreements," states Chairman and CEO, John Huguet.

On behalf of Andean American Mining Corp.,

John Huguet, Chairman & CEO

Andean American Mining Corp. (TSX VENTURE:AAG)(FRANKFURT:AQN) is an international mining and exploration company focused on growth. The Company is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has two key assets: the 28,200 hectare Invicta gold-silver-copper advanced exploration stage project; 60% of Sinchao Metals Corp., owner of the Sinchao zinc-copper-silver-gold-lead mineralization project. For further information call (604) 681-6186 or toll free: 1-888-356-4784 or visit [ www.andeanamerican.com ].

This news release may contain forward-looking information within the meaning of the Securities Act (Ontario) ("forward-looking statements"). Such forward-looking statements may include the Company's plans for its mineral projects, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company's operations in a foreign jurisdiction, uncertainty of production and costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of gold and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Financial Statements, Management Discussion and Analysis and Material Change Reports filed with the Canadian Securities Administrators and available at [ www.sedar.com ].

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Andean American Announces Bridge Loan and Gold Offtake Agreement