ECU Silver Mining Inc.
TSX : ECU

ECU Silver Mining Inc.

April 14, 2010 12:16 ET

ECU Silver Reports Best Operating Month in March 2010

TORONTO, ONTARIO--(Marketwire - April 14, 2010) - ECU Silver Mining Inc. (TSX:ECU)

ECU Silver Mining Inc. is pleased to report that it has achieved its best month of operations since commencing operations of its oxide mill 11 months ago.

Highlights include:

  • 12% increase in silver to 33,614 ounces;
  • 40% increase in gold to 705 ounces;
  • 107% increase of gold in pyrite concentrate to 336 ounces, which was added to the pyrite inventory;
  • 27% increase in silver equivalent to 79,443 ounces, using a silver-to-gold ratio of 65 to one (base metals not included as equivalents);
  • Average daily throughput at the oxide mill of approximately 494 tonnes per day ("tpd").

Silver metal equivalent generated in March highlighted the best operating month for ECU since the acquisition of the oxide mill. We are gaining a better understanding of the metallurgy which has resulted in enhanced recoveries of gold and silver. The quantity of gold and silver recovered has increased substantially, primarily due to the cessation of feeding gold rich tailings to the oxide mill, which was having a negative impact on recoveries. We continue to expect that enhanced recoveries will be achieved through modifications of the oxide mill's Merrill-Crowe system. Merrill-Crowe is the separation technique for removing gold and silver from the solution.

For March, the amount of silver equivalent generated (see Table 1) was 79,443 ounces, approximately 27% greater than February. 705 ounces of gold was generated in March, 203 ounces (40%) greater than the previous month and 33,614 ounces of silver was generated in March, which was 3,653 ounces (12%) greater than in February. An additional 336 ounces of gold contained in our pyrite concentrate, 107% greater than February, was added to our pyrite concentrate stockpile which currently contains approximately 8,600 ounces of gold.

Table 1: March 2010

(ounces) Oxide Mill Sulphide Mill Total
Gold 695 10 705
Silver 27,207 6,407 33,614
Silver Equivalent (65:1) 72,382 7,061 79,443
In Pyrite Concentrate (sent to inventory)      
 Gold - 336 336
 Silver - 2,011 2,011
Silver Equivalent (65:1) - 23,851 23,851

The Company will in the future report results of its milling operations on a quarterly basis, rather than a monthly basis.

About ECU Silver

ECU Silver Mining Inc. is focused on the exploration, development and mining of gold, silver and base metals at its Velardena District Properties in Durango, Mexico. The Company holds a NI 43-101 compliant mineral resource of 40 million silver equivalent ounces in the measured and indicated category and 391 million silver equivalent ounces in the inferred category. The Company also owns two mills with a combined capacity of 820 tonnes per day. ECU's mission is to become a pre-eminent silver and gold producer through the development of its existing and potential mineral resources at Velardena.

Cautionary Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, the proposed construction of a mill, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, the Company's inability to obtain any necessary permits, consents or authorizations required for their activities, to produce minerals from their properties successfully or profitably, to continue their projected growth, to raise the necessary capital or to be fully able to implement their business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release.

Contact Information

  • ECU Silver Mining Inc.
    Michel Roy
    Chairman and CEO
    Torreón, Mexico
    011 52 871 747 5750
    or
    ECU Silver Mining Inc.
    Stephen Altmann
    President
    Toronto, Canada
    (416) 366-2428
    or
    ECU Silver Mining Inc.
    Mark Butler
    Investor Relations
    Toronto, Canada
    (905) 602-4248
    www.ecu.ca