2009-04-23 15:12 ET - News Release

Mr. Art Johnson reports

MINERA ANDES ANNOUNCES A NEW DISCOVERY FROM THE 2009 SAN JOSE EXPLORATION PROGRAM

Minera Andes Inc. has released details of the 2009 exploration program under way at its producing high-grade gold-silver San Jose mine in southern Argentina. The San Jose project is owned by Minera Santa Cruz SA (MSC) and MSC is owned 49 per cent by Minera Andes and 51 per cent by Hochschild Mining PLC, the operator. Exploration highlights include the discovery of a new mineralized structure about 845 metres southwest of the producing Huevos Verdes vein. The structure, which does not outcrop on the surface, was discovered in the first hole of a program of several 1,000-metre-long diamond drill holes to be drilled horizontally from existing underground workings. Core hole (SMJ-105) intersected 8.9 grams per tonne (0.26 ounces per ton) gold and 517 grams per tonne (15.1 ounce per ton) silver over one metre.

The 2009 exploration program at San Jose consists of a compilation and interpretation of project data over the entire San Jose district, comprising approximately 115 square kilometres (28,400 acres), to identify new targets and follow up on existing targets through exploration drilling. The planned drilling program totals approximately 22,000 metres, made up of 17,000 metres of core drilling from the surface and 5,000 metres of underground drilling. The surface drilling will focus on the Kospi, Ayelen, Odin and the newly discovered structures. Underground drilling will concentrate on the Kospi, Frea and Huevos Verdes central veins, as well as other veins by drilling from the underground access ramps. In addition to discovering new mineralized veins, the goal of this year's exploration program will be to add to the existing resources at San Jose. The new mineralized quartz vein structure was discovered in the first drill hole of the underground exploration program in the San Jose mine. The first phase of the underground drilling program consists of five 1,000-metre-long, horizontal holes to test various geophysical targets outside the current mining areas in order to evaluate possible subparallel structures. Drill hole JM-105, directed toward a high-resistivity anomaly to the southwest of the Huevos Verdes vein, intersected the structure at 845 metres yielding 8.9 grams per tonne gold and 517 grams per tonne silver over a one-metre width. A follow-up surface drilling program to test the continuity of this recent discovery is in preparation. The current five-long-hole underground program continues with a second horizontal hole currently being drilled in a northeast direction from the Huevos Verdes vein. Allen Ambrose, president of Minera Andes, said: "We are pleased to see the excellent discovery potential at San Jose with the first drill hole from this year's exploration program meeting with success. This further indicates the district scale potential of the property to host multiple gold-silver veins. Since the Huevos Verdes vein was discovered on the property, four additional high-grade gold-silver veins have been found with a potential fifth vein in the new structure."

Assay results for the drilling were reviewed by Allen V. Ambrose, Minera Andes's president and chief executive officer, who is an appropriately qualified person as defined by National Instrument 43-101. All samples were collected in accordance with industry standards. Assay results disclosed herein are generated from the in-house laboratory at the San Jose mine site. Splits and check samples from the drill core samples were submitted to Alex Stewart Assayers Argentina SA, in Mendoza, Argentina, for fire assay and ICP analysis and assay results are pending. Accuracy of results is tested through the systematic inclusion of standards, blanks and check assays. Mr. Ambrose is responsible for the information used in this news release and has supervised the preparation of the information and reviewed all information used in this news release.