July 21, 2010, Salt Lake City, UTAndean Resources Announces...

July 21, 2010, Salt Lake City, UT
Andean Resources Announces Bought Deal Financing
Andean Resources (ASX/TSX: AND) has announced today that it has entered into an agreement with a syndicate of underwriters with BMO Capital Markets and RBC Capital Markets as joint-bookrunners, under which the underwriters have agreed to buy on bought deal basis by way of a short form prospectus, 70,000,000 common shares (the �Common Shares�), at a price of C$3.35 per Common Share for gross proceeds of C$234,500,000. The net proceeds will be used to advance the exploration and development of the Cerro Negro project in Argentina and for general working capital purposes. The offering is expected to close on or about August 11, 2010 and is subject to Andean receiving all necessary regulatory approvals.

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Comment: $3.35 CAD = $3.64 AUD
Very good outcome IMO.