Ecometals Limited

Ecometals Limited

February 25, 2008 17:21 ET

Ecometals Appoints General Manager and Controller for Ecuadorian Operations

TORONTO, ONTARIO--(Marketwire - Feb. 25, 2008) - Ecometals Limited (TSX VENTURE:EML)(FRANKFURT:GDQ)(BERLIN:GDQ) is pleased to announce the appointment of Diego Benalcazar as General Manager and Rodrigo Izurieta as Controller, both for Ecuadorian Operations.

Mr. Benalcazar has been involved in mineral exploration, mining property evaluation and acquisitions in many countries throughout Latin America and the Caribbean. He has held consulting and managerial positions with several international mining companies, including Homestake International Minerals Ltd., Pancontinental Mining Ltd. and the U.S. subsidiary of Belgium-based Union Miniere.

Mr. Benalcazar was also General Manager for several subsidiaries of the Holderbank Cement Group of Switzerland. He has additionally served as Director of Ready-Mixed Concrete for Holcim Cementos Caribe S.A. in Venezuela and Cemetos Boyaca S.A. in Colombia, which included responsibility for Dominican Lesser Antilles.

As a former President and member of the Board of Directors of the Ecuadorian Chamber of Mines, Mr. Benalcazar has actively represented the mining industry in discussions with Ecuadorian government authorities.

Mr. Benalcazar holds a B.A. in geology from North Carolina State University and has completed the Program for Management Development of Harvard Business School.

Mr. Izurieta comes to Ecometals from CTC, where he was a partner and owner. CTC is a consulting firm specializing in finance and economics, advising multilateral organizations, banks and multinational corporations. Mr. Izurieta also served as Director of Finance and Strategy at EFH Corp., a family-owned holding company with investments in manufacturing, real estate and agriculture. He also provided sovereign-bond coverage for Banco Santander in New York and was a senior consultant in Arthur Andersen's Corporate Finance consulting division.

Mr. Izurieta graduated summa cum laude from San Francisco University in Quito with a double major in economics and finance. He was a Fulbright Scholar and won a merit-based grant from New York University, where he obtained a master's degree in economics.

"Our strong pace of exploration and ambitious schedule of future activities in Ecuador requires highly qualified managers," said Fran Scola, Chief Executive Officer of Ecometals. "Diego and Rodrigo bring to Ecometals solid operational experience and an in-depth understanding of their respective disciplines, which will be invaluable as we move forward."

Ecometals also announces the granting of 13.8 million options to employees and directors, pursuant to its option plan that was approved by shareholders on October 1, 2007. The options have a strike price of $0.50 per share and vest over an 18-month period in equal monthly instalments. They expire after five years. The Company currently has approximately 220 million shares issued and outstanding.

"Ecometals has completed an intensive reorganization over the past year and the option award is intended to recognize the extraordinary service of key employees and directors," said Mr. Scola. "We are confident that we now have the right team in place to grow shareholder value."

About Ecometals

Ecometals Limited is a Canadian-listed mineral exploration and development company focused on mineral resources in Latin America. Ecometals also holds 44.4% of Atomaer Holdings Pty Ltd., a private Australian holding company.

Cautionary Statement Regarding Forward-Looking Statements

Statements contained in this release that do not express historical facts are forward-looking statements. Such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from those expressed in them. These include risks relating to changes in economic or environmental conditions and the company's ability to execute its business model and strategic plans. The company relies on litigation protection for forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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