Andean Precious Metals Announces Special RSU Grants Related to Closing of Golden Queen Transaction

Toronto, Ontario–(Newsfile Corp. – July 3, 2024) – Andean Precious Metals Society (TSXV: APM) (OTCQX: ANPMF) (“Andean” or the “Business”) announced that on April 2, 2024, the board of directors (the “Advice“) granted restricted stock units (“RSUs”) to certain officers of the Company (each, a “Participant”) as a special bonus for the closing of the Golden Queen Transaction.

The Board approved the grant of an aggregate of 227,398 restricted stock units, which will vest on the grant date, which is 12 months after the grant date. Once vested, each restricted stock unit will be settled by the issuance of one common share of Andean or, if mutually agreed by the participant and Andean, by a cash payment.

About Andean precious metals

Andean is a growing precious metals producer focused on expansion in premier jurisdictions in the Americas. The Company owns and operates the San Bartolomé processing plant in Potosí, Bolivia and the Soledad Mountain mine in Kern County, California and is well-funded to capture future growth opportunities. Andean’s management team is committed to creating value, fostering safe, sustainable and responsible operations and realizing our ambition to be a mid-sized multi-asset precious metals producer.

For further information please contact:

Amanda Mallough
Director, Investor Relations
[email protected]

Tel.: +1 647 463 7808

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which we collectively refer to as “forward-looking statements.” Forward-looking statements are statements and information concerning possible events, conditions or results of operations that are based on assumptions about future economic conditions and courses of action. All statements and information other than statements of historical facts may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek,” “expect,” “anticipate,” “budget,” “plan,” “estimate,” “continue,” “forecast,” “intend,” “believe,” “predict,” “potential,” “target,” “may,” “should,” “will” and other similar words or expressions (including negative variations) suggesting future outcomes or statements regarding outlook.

Forward-looking statements contained in this press release include, but are not limited to, statements and information regarding the vesting and settlement of the RSUs. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking statements. The Company believes that the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that such expectations will prove to be correct, and you are cautioned not to place undue reliance on the forward-looking statements contained herein.

Some of the risks and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements contained in this news release include, but are not limited to: risks and uncertainties relating to the interpretation of drilling results, the geology, grade and continuity of mineral deposits and the conclusions of economic evaluations; the results of initial feasibility, pre-feasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks relating to possible variations in reserves, resources, grade, anticipated mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined; risks associated with mining and development, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unforeseen difficulties or interruptions in exploration and development; the potential for delays in exploration or development activities or in the completion of feasibility studies; risks related to the inherent uncertainty of production and cost estimates and the potential for unanticipated costs and expenses; risks related to fluctuations in commodity prices and foreign exchange rates; uncertainty of profitability based on the cyclical nature of the industry in which the Company operates; risks related to the inability to obtain adequate financing in a timely manner and on acceptable terms or delays in obtaining local government or community approvals or in completing development or construction activities; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment; and other factors contained in the section entitled “Risk Factors” of the Company’s management’s discussion and analysis dated March 31, 2024.

Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in this release if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

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