• First pass drilling confirms mineralisation; Further high-grade surface veins also identified in the same area with grades of up to 26,822g/t Silver Equivalent
• Highlights scope for future resource growth
• Andean's strategy to grow the Cerro Bayo Resource continues to deliver with strong results

Andean Silver Limited has intersected thick, high-grade silver-gold mineralisation in the first pass drilling at the Temer lode, part of its Cerro Bayo Silver-Gold Project in Chile. The drilling results include 3.9m @ 779g/t silver equivalent (234g/t Ag & 6.6g/t Au) or 9.4g/t AuEq, including 1.5m @ 1,424g/t silver equivalent (532g/t Ag & 10.8g/t Au) or 17.2g/t AuEq. The company has also identified additional high-grade surface veins in the same area, with sawn channel samples returning up to 26,822g/t silver equivalent (26,330g/t Ag & 5.9g/t Au) or 323.3g/t AuEq. These new discoveries demonstrate the potential for further resource growth at Cerro Bayo. Andean's strategy to grow the Cerro Bayo Resource has already delivered a 340% increase in the resource since the project was acquired 18 months ago. The company remains well-funded for further exploration and resource growth following a recent A$30m placement.

Andean has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.

Andean's exploration strategy for the coming 12-month period will comprise a combination of drilling brownfields targets for growth of existing Resources, underpinning long-term growth through project generation from regional mapping and discovery, reviewing results and building a comprehensive drill campaign over the greenfield projects, commencing broader regional exploration campaigns, and commencing internal studies to guide the future restart planning phases.