Andean Precious Metals Signs Exclusive Agreement To Purchase Up To 250,000 Tonnes Of Oxide Material From COMIBOL In Bolivia

(MENAFN- Newsfile Corp) Toronto, Ontario--(Newsfile Corp. - February 6, 2025) - Andean Precious Metals Corp. (TSX: APM) (OTCQX: ANPMF) (" Andean ", or the " Company "), through its wholly-owned subsidiary, Empresa Minera Manquiri S.A. (" Manquiri " and together with Andean, the " Andean Entities ") has entered into a Sale and Purchase Agreement (the " SPA " or the " Agreement ") of oxide material with CORPORACIÓN MINERA DE BOLIVIA (" COMIBOL "), a Bolivian state owned mining company, from its mining concession of Real del Monte and Temeridad (the " COMIBOL Concession "), located in the Municipality of Uyuni, in the Department of Potosí, Bolivia. COMIBOL has the exclusive rights for prospecting, exploration, and mining of the COMIBOL Concession.

The COMIBOL Concession is an epithermal silver and base metal deposit in Bolivia, located approximately 18 km northeast of the city of Uyuni and approximately 200 km southwest of Andean's San Bartolomé mine and processing facilities near Potosí.

Transaction Highlights:

Volume:

• The Agreement allows for up to 250,000 dry tonnes of oxide material.

Delivery Timelines:

• Full volume shall be delivered within 25 months.

Delivery Terms:

• Mineral will be delivered to the collection area at COMIBOL's mining site.
• Weight verification will be jointly conducted, with final sampling and grade determination performed with an accredited laboratory in Bolivia.

Termination:

• The Agreement shall remain in effect for 25 months or until the full delivery of the committed quantities has been completed or until explicitly terminated by the parties in accordance with its terms.

Financial Terms:

• Three million US dollars (US$3,000,000), paid on closing, for 250,000 tonnes of oxide material at price per ton of US$12.00. In addition, on an ongoing monthly basis during the term of the Agreement, the Company will pay the operating and administrative expenses incurred by COMIBOL for the mining of the oxidized mineral purchased.

Quality and Compliance

The Company reserves the right to reject material below the agreed upon minimum grade (180 grams/dry tonne). Both parties will adhere to national environmental and safety regulations.

About Andean Precious Metals

Andean is a growing precious metals producer focused on expanding into top-tier jurisdictions in the Americas. The Company owns and operates the San Bartolomé processing facility in Potosí, Bolivia and the Soledad Mountain mine in Kern County, California, and is well-funded to act on future growth opportunities. Andean's leadership team is committed to creating value; fostering safe, sustainable and responsible operations; and achieving our ambition to be a multi-asset, mid-tier precious metals producer.

For more information, please contact:

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