ECU Silver Mining Inc.
TSX : ECU

ECU Silver Mining Inc.

June 24, 2009 08:00 ET

ECU Silver Responds to Notice of Arbitration

TORONTO, ONTARIO--(Marketwire - June 24, 2009) - ECU Silver Mining Inc. ("ECU Silver") (TSX:ECU) announces that it has received a Notice of Arbitration (the "Notice") from its San Diego Property joint venture partner, Golden Tag Resources Ltd. ("Golden Tag"), wherein Golden Tag is seeking to refer certain matters, pertaining to the operation of the joint venture, to arbitration for resolution.

ECU Silver questions the basis for certain of the assertions made, and conclusions sought, by Golden Tag in the Notice. ECU Silver further questions the motives of Golden Tag in serving the Notice without prior warning, particularly given that ECU Silver has been acting in good faith to address certain of the concerns raised by Golden Tag.

ECU Silver intends to vigorously contest the Notice and the conclusions sought therein.

The San Diego Property is one of three properties that are controlled by ECU Silver, and is the smallest and least developed of the three. It is also the only property in connection with which ECU Silver has a joint venture partner. The San Diego Property is primarily a base metal deposit, with silver as a co-product. Currently, ECU Silver is not mining or milling any material from the San Diego Property.

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
    011 52 871 747 5750
    or
    ECU Silver Mining Inc.
    Stephen Altmann
    President
    (416) 366-2428
    (416) 366-8131 (FAX)
    Website: www.ecu.ca