ECU Silver Mining Inc.

ECU Silver Mining Inc.

November 24, 2008 09:20 ET

ECU Silver to Release Mineral Resource Update

TORONTO, ONTARIO--(Marketwire - Nov. 24, 2008) - ECU Silver Mining (TSX:ECU) ("ECU Silver" or "the Company") is pleased to announce that it is on schedule to deliver an updated mineral resource estimate by mid December.

With our work to date, we expect the results of our evaluation to accomplish three objectives:

- Materially increase the mineral resources among the Velardena Properties,

- Convert a portion of our mineral potential into inferred resources and thereby provide evidence of the robustness of the mineral potential, and

- Establish that the Velardena Properties mineral resource is one of the larger mineral silver/gold resources in Mexico.

We have essentially completed the evaluation of a few of the mineralized regions that extend beyond the mineral resource zones identified in our last N.I. 43-101 mineral resource report. These regions include areas where we have had substantive exploration success and most of which have been reported throughout the year to our shareholders. Some of these mineralized regions lie within our mineral potential and others are in newly discovered areas. These additional mineralized regions remain within our three properties, namely, the main Velardena Property, the Chicago Property and the San Diego Joint Venture Property.

At the main Velardena Property, we expect that mineral resources will incorporate drilling results from three key areas. First, results from the deeper and richer portions of Santa Juana have been very encouraging and should be a primary contributor to an increase of the mineral resources on the main Velardena Property. Second, the previously announced extensions, laterally and at depth, on the prominent Terneras vein are proving to be a continuous corridor of mineralization. Finally, thirdly, the Hiletas Vein, which is adjacent and parallel to the Terneras Vein, is also demonstrating evidence of continuous mineralization.

At the neighbouring Chicago Property, just 500 metres (1,600 feet) south of the main Velardena Property, the addition of a new high grade vein may also add to the attractive mineral resource profile of the Chicago Property.

The San Diego Joint Venture Property, which is only 9 kms away, and has had several very encouraging drilling results which has highlighted this property as likely being a significant contributor to the overall mineral resource of the Velardena Properties. Several reported assay results continue to demonstrate an emerging pattern of massive to semi-massive sulphide mineralization with significant grades in silver, lead and zinc over attractive widths below the known surface vein occurrences.

We are now in the process of quantifying the mineral resources within all these areas. We remain excited about the release of a new updated mineral resource in the very near future.

Cautionary Statements and Additional Information:

Readers are cautioned that until a prefeasibility study is completed, there are no assurances the release of an updated mineral resource will be economically viable.

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 area is comprised of three properties, the Main Velardena Property, the Chicago Property and the San Diego Joint Venture Property. The properties contain a measured and indicated mineral resource of 38 million silver equivalent ounces and an inferred mineral resource of 179 million silver equivalent ounces. ECU's mission is to become a pre-eminent silver and gold producer through the development of existing and additional potential, resources in the Velardena district.

Contact Information

  • CHF Investor Relations
    Chris Haldane
    Account Manager
    (416) 868-1079 ext. 237
    ECU Silver Mining Inc.
    Stephen Altmann
    (416) 366-2428
    (416) 366-8131 (FAX)