Mr. Alberto Morales reports

ANDEAN PRECIOUS METALS ANNOUNCES GOLDEN QUEEN MINING RETURNS TO FULL PRODUCTION FOLLOWING DECEMBER FIRE

Andean Precious Metals Corp.'s wholly owned subsidiary, Golden Queen Mining LLC, has returned to normal production following the previously announced fire on Dec. 13, 2023.

The secondary crusher circuit, which was damaged in the fire, is now repaired and fully operational.

"I'd like to thank our team and our trusted suppliers and contractors for their tireless efforts in completing equipment repairs in a timely and efficient manner," said Alberto Morales, executive chair and chief executive officer. "While the extent of the structural damage was not as serious as first anticipated, their efforts helped us return to regular operations and full production weeks earlier than anticipated."

As previously announced, the company expects lower production in the first quarter of 2024 due to the fire; however, Golden Queen's full year 2024 production is not anticipated to be materially affected. The company's 2024 guidance will be outlined at the end of March with the release of its 2023 financial and operating results.

Golden Queen Mining operates the Soledad Mountain mine and heap leach operation in Kern county, Southern California.

About Andean Precious Metals Corp.

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

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