Andina Annual Compensation Stock Option Award

ANDINA Minerals Inc. (TSX VENTURE:ADM) ("Andina" or the "Company") today
reported that it has issued, in accordance with its annual compensation review
process, a total of 1,850,000 incentive share options to directors, officers,
employees and consultants under the Company's share option plan. The options are
exercisable into common shares of Andina at CAD$0.93 per share and have a five
year term. 


Effective January 1, 2012, the Company has also approved the issuance, in
accordance with the employment agreement of its newly appointed Chief Operating
Officer, of 300,000 incentive share options under the Company's share option
plan. These options are exercisable into common shares of Andina and have a five
year term. 


About Andina Minerals Inc.

Andina's primary focus is mining exploration and development in Chile. The
Company's flagship development project is the 100%-owned Volcan Gold Project,
strategically located in the prolific Maricunga Gold Belt. 


In February 2011, Andina announced the results of a positive pre-feasibility
study for Volcan. Initial Proven and Probable Mineral Reserves are 6.6 million
ounces of gold at an average grade of 0.73 g/t contained in 283 million tonnes
of ore. In addition, there remains 2.4 million ounces of Measured and Indicated
gold resources at an average grade of 0.68 g/t contained in 110 million tonnes
of ore plus 1.5 million ounces of gold in the Inferred category contained in 73
tonnes of ore at an average grade of 0.65 g/t Au. 


Andina is progressing with a feasibility study and EIA submission for Volcan,
targeted for completion in the first half of 2012. 


In addition to Andina's extensive underexplored land position surrounding
Volcan, the Company holds two other mineral properties located within Chile's
primary mining regions.


For further information please visit the Company's website at
www.andinaminerals.com.


Forward-Looking Statements

This press release contains forward-looking information within the meaning of
applicable Canadian securities laws and regulations. Such information is based
on the current expectations and beliefs of Andina's management and is subject to
a number of risks and uncertainties that may cause the actual results to differ
materially from those described above. Forward-looking information in this press
release includes, but is not limited to, statements with respect to the
completion of the feasibility study and EIA, permitting timelines, government
regulation of exploration and mining operations, environmental risks, title
disputes or claims, limitations on insurance coverage, timing and possible
outcomes of any pending litigation and timing and results of future resource
estimates or future economic studies. Often, but not always, forward-looking
information can be identified by the use of words such as "plans", "planning",
"planned", "expects", "looking forward", "does not expect", "continues",
"scheduled", "estimates", "forecasts", "intends", "potential", "anticipate",
"does not anticipate", or "belief", or describes a "goal", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.


The forward-looking information contained in this press release is based on a
number of material factors and assumptions, including, but not limited to, that
estimates and studies are accurate, that Andina's mining operations continue in
the ordinary course and as expected, that contracted parties provide goods
and/or services on the agreed time frames, that the equipment necessary for
exploration and development work is available as scheduled, availability of
water for milling and mining, that no labour shortages or delays are incurred,
that plant and equipment function as specified, Andina's ability to obtain
adequate financing when and as needed, the continued favourable market for gold
at prices at or above estimated levels, that no unusual geological or technical
problems occur, that no unusual or unexpected events have a material adverse
effect on Andina's operations or financial condition, and such other assumptions
and factors as set out herein. 


Forward-looking information involves known and unknown risks, future events,
conditions, uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any future results,
projection, forecast, performance or achievements expressed or implied by the
forward-looking information. Such factors include, among others, the
interpretation and actual results of current exploration activities; changes in
project parameters as plans continue to be refined; future prices of gold;
possible variations in grade or recovery rates; failure of equipment or
processes to operate as anticipated; the failure of contracted parties to
perform; labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion of
exploration, as well as those factors disclosed in the company's publicly filed
documents. Although Andina has attempted to identify important factors that
could cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking information will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking information. Andina does not undertake any
obligation to update or revise publicly any forward-looking information whether
as a result of new information, future events or otherwise, unless required to
do so by applicable laws.