LOS ANDES ANNOUNCES APPOINTMENT OF EDUARDO COVARRUBIAS AS PRESIDENT AND CEO
January 25, 2011
Vancouver, BC – Los Andes Copper Ltd. ("Los Andes", or the "Company", TSX Venture Exchange: LA) is pleased to announce that Eduardo Covarrubias has been appointed President and CEO of the Company, effective immediately. Mr. Covarrubias replaces Dr. Roger Moss who will remain a consultant to the Company. This change will allow Dr. Moss to focus his efforts on the next steps required in the preparation of a scoping study and subsequent pre-feasibility work for the Vizcachitas project.
Mr. Covarrubias has been overseeing the mining interests of Turnbrook Corporation prior to the recent consolidation of ownership of the Vizcachitas project. Mr. Covarrubias was a banker with the Chase Manhattan Bank for almost a decade, covering the mining sector in Chile. He was based in New York and Santiago and his responsibilities included project financing, structured finance and mergers and acquisitions transactions. Most recently Mr. Covarrubias had devoted his time to entrepreneurial activities in the real estate sector, among others. Mr. Covarrubias holds a degree in chemical and industrial engineering from the Catholic University of Chile, and a Master of Science in Management from the Massachusetts Institute of Technology (MIT), Sloan School of Management.
The Vizcachitas project offers potential for a low strip, open pit operation in an area of low elevation with excellent infrastructure, including water and power in central Chile. The Vizcachitas deposit occurs in the same metallogenic belt as the giant copper-molybdenum porphyries Rio Blanco-Los Bronces, Los Pelambres and El Teniente. Based on 35,255 metres of drilling in 130 diamond drill holes, the project contains an indicated resource of 515 million tonnes grading 0.39% copper and 0.011% molybdenum and an inferred resource of 572 million tonnes grading 0.34% copper and 0.012% molybdenum at a 0.30% copper equivalent cutoff. Additional information about the Vizcachitas project is available in the National Instrument 43-101 Technical Report prepared by AMEC and filed by the Company on SEDAR on August 29 2008, and on our website at www.losandescopper.com.
For more information please contact:
Michael Kuta, Corporate Secretary Tel: 604-697-6201 or
Eduardo Covarrubias, President & CEO Tel: (56-99) 323-3156
This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.
Neither TSX Venture Exchange 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
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