Mr. Juan Sandoval reports

ANDEAN PRECIOUS METALS' SUBSIDIARY SECURES $25 MILLION REVOLVING LINE OF CREDIT

Through Andean Precious Metals Corp.'s wholly owned subsidiary, Andean PM AB, Andean Precious Metals has entered into an agreement for a 12-month, $25-million renewable secured revolving line of credit (LOC) with Banco Santander International. The agreement is effective as of Feb. 28, 2024. (All amounts are in U.S. dollars unless otherwise stated.)

The line of credit provides for $25-million to be used for general corporate purposes and is secured by short-term investments and cash equivalents. It bears interest on any outstanding borrowings at the three-month secured overnight financing rate (SOFR) plus 90 basis points.

"While we expect to maintain a strong year-end balance sheet as at Dec. 31, 2023, with liquid assets of approximately $72-million, including an unaudited cash balance of $65-million, this LOC provides the company with continued financial flexibility and builds on our treasury management capabilities as we pursue our vision of being a multiasset mid-tier precious metals producer," stated Juan Carlos Sandoval, Andean's chief financial officer.

About Andean Precious Metals Corp.

Andean is a growing precious metal 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 its ambition to be a multiasset, mid-tier precious metal producer.

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