Fundraising to Incoming PartiesThe Directors are also pleased to...

Fundraising to Incoming Parties
The Directors are also pleased to announce that as part of their agreement to join the board of Andean, Messrs.
Thomas, Hume and associates have agreed to subscribe for a total of 6.0 million new ordinary shares at a price of 6
cents per share. The fundraising, which has been undertaken at the same price as the recently completed
Shareholder Share Purchase Plan, will raise a total of $360,000 in new capital for the Company.
Funds raised from the placement, which does not require a prospectus pursuant to Section 708 of the Corporations
Act, will be used to settle the next instalment of the Cerro Negro purchase price due to MIM Limited / Xstrata and for
general working capital.
Of the 6.0 million shares to be placed pursuant to the fund raising, a total of 4.0 million are being issued subject to
shareholder approval to be obtained at the forthcoming AGM to be held on or around 20 November 2004.