Ecometals Limited

Ecometals Limited

October 08, 2010 13:04 ET

Ecometals Announces Withdrawal from Completion of Joint Venture re The Los Alonsos Project in Jalisco State, Mexico

TORONTO, ONTARIO--(Marketwire - Oct. 8, 2010) - Ecometals Limited (TSX VENTURE:EC)(BERLIN:EDQ)(FRANKFURT:EDQ) -

Further to its previous Press Release announcing the signing of a nonbinding Memorandum of Understanding to form a Joint Venture company with Jipa y Asociados, a private arms length Mexican company, for joint ownership and operation of the Los Alonsos Gold-Silver exploration project in Jalisco State, west-central Mexico:

Ecometals is withdrawing from the conclusion of this transaction due to differences on a number of issues which have evolved during completion of the due diligence and the negotiation phase of the final Sale and Purchase Agreement with Jipa y Asociados.

About Ecometals

Ecometals Limited is a TSX Venture Exchange-listed mineral exploration and development company focused on mineral resources in Latin America. Apart from its gold exploration projects in Ecuador, Ecometals also has significant manganese, gold and iron projects in Brazil at grass roots exploration and development planning stages.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information