Sentient IV acquires convertible notes of Andover Mining Corp.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES/

MONTREAL, May 2, 2012 /CNW Telbec/ - Sentient Executive GP IV, Limited ("Sentient IV") announces that, in connection with a private placement with Andover Mining Corp. ("Andover"), it has acquired control over a US$2.5 million principal amount convertible note (the "April Note") of Andover. The April Note matures on May 1, 2014, does not bear interest and can be converted into Andover shares at $0.32 per share at the discretion of Sentient IV.

Assuming the conversion in full of the principal amount of the April Note, Sentient IV would acquire control over 7,722,151 Andover shares, representing approximately 6.5% of the outstanding Andover shares, calculated on a partially diluted basis assuming the full conversion of the principal amount of the April Note only at an exchange rate of Cdn$1.00=US$1.0117 (Bank of Canada noon rate on April 30, 2012).

In addition to the April Note, Sentient IV has control over 2,159,500 Andover shares and an additional US$2.5 million principal amount convertible note (the "September Note") issued by Andover. The September Note matures on September 28, 2012, does not bear interest and can be converted into Andover shares at $0.50 per share at the discretion of Sentient IV.

Assuming the conversion in full of the principal amount of the September Note and the April Note, Sentient IV would acquire control over 14,823,828 Andover shares (including the 2,159,500 Andover shares over which Sentient IV has control), representing approximately 12% of the outstanding Andover shares, calculated on a partially diluted basis assuming the full conversion of the principal amount of both the September Note and the April Note only at an exchange rate of Cdn$1.00=US$1.0117 (Bank of Canada noon rate on April 30, 2012).

Sentient IV acquired the April Note for investment purposes only and not with a view to materially affecting control of Andover.

please contact Sue Bjuro at [phone].