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

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Andean Precious Metals announced the grant of 227,398 restricted share units (RSUs) to certain executive officers as a special bonus for the successful closing of the Golden Queen Transaction on April 2, 2024. These RSUs, approved by the Board, will vest 12 months from the date of grant. Upon vesting, each RSU will be converted into one common share of Andean or may be settled via a cash payment if both parties agree.

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Toronto, Ontario--(Newsfile Corp. - July 3, 2024) - Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) ("Andean" or the "Company") announced that on April 2, 2024, the Board of Directors (the "Board") granted restricted share units ("RSUs") to certain executive 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 RSUs and will vest based on the date that is 12 months from the date of grant. Upon vesting, each RSU 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 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:

Amanda Mallough
Director, Investor Relations
amallough@andeanpm.com

T: +1 647 463 7808

Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in 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 in this 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 refer to collectively as "forward-looking statements". Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact 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", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.

Forward-looking statements in this 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 which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct, and you are cautioned not to place undue reliance on forward-looking statements contained herein.

Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this release include, but are not limited to: risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations; 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, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; the potential for delays in exploration or development activities or the completion of feasibility studies; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; risks related to commodity price and foreign exchange rate fluctuations; the uncertainty of profitability based upon the cyclical nature of the industry in which the Company operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental or local community approvals or in the completion of 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" in the Company's MD&A 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 the 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 otherwise required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215422

FAQ

What is the significance of the 227,398 RSUs granted by Andean Precious Metals?

The 227,398 RSUs were granted as a special bonus to executive officers for the closing of the Golden Queen Transaction and will vest in 12 months.

When will the RSUs granted by Andean Precious Metals vest?

The RSUs granted on April 2, 2024, will vest 12 months from the date of grant.

What happens upon the vesting of RSUs granted by Andean Precious Metals?

Upon vesting, each RSU will be settled by issuing one common share of Andean or through a cash payment if mutually agreed.

What is the stock symbol for Andean Precious Metals?

The stock symbol for Andean Precious Metals is ANPMF.

Why did Andean Precious Metals grant RSUs to executive officers?

Andean Precious Metals granted RSUs as a special bonus for the successful closing of the Golden Queen Transaction.