First Andes Silver Closes Oversubscribed Private Placement Financing

First Andes Silver Ltd. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ) has successfully closed its oversubscribed private placement financing, raising a total of $1,065,000 through the issuance of 21,300,000 common shares at a price of $0.05 per share. The financing was significantly oversubscribed, reflecting the strong investor interest in the Company's high-grade Santas Gloria silver property and its experienced management team.



The proceeds from the financing will be used to fund a follow-up drill program at the high-grade Santas Gloria silver property, as well as for general working capital purposes. The drill program is expected to build on the positive results from the Company's maiden diamond drill program in 2024, which reported high-grade silver grades on all drilled vein systems, confirming the silver endowment and warranting high priority follow-up drilling in 2025.

The Company's management team and key advisors have a proven track record and relevant industry experience in exploration through South America, with members having had success with multiple companies, including Newmont Gold Corp, Kinross Gold Corp, and Ivanhoe Mines Ltd. This experienced team, coupled with the Company's strong balance sheet of $8 million, positions First Andes Silver well to execute its exploration programs and deliver value to shareholders.

The oversubscription of the private placement financing reflects the strong investment potential of First Andes Silver, as well as the broader market trend of increased interest and investment in the junior mining sector. The Company's focus on high-grade silver properties in Peru, combined with its experienced management team and strong financial position, makes it an attractive investment opportunity in the current market landscape.

In conclusion, First Andes Silver's successful closing of its oversubscribed private placement financing demonstrates the strong investor interest in the Company's high-grade Santas Gloria silver property and its experienced management team. The proceeds from the financing will be used to fund a follow-up drill program at the property, which is expected to build on the positive results from the Company's maiden diamond drill program. With a strong balance sheet and an experienced management team, First Andes Silver is well-positioned to deliver value to shareholders and capitalize on the investment potential of the junior mining sector.