Ecometals Limited
TSX VENTURE : EML
FRANKFURT : GDQ
BERLIN : GDQ

Ecometals Limited

December 15, 2008 17:06 ET

Ecometals Reports Further Progress on Legal Matters with Respect to its Manganese Stockpiles at Port Santana

TORONTO, ONTARIO--(Marketwire - Dec. 15, 2008) - Ecometals Limited (TSX VENTURE:EML)(FRANKFURT:GDQ)(BERLIN:GDQ), Brazil Update - Ecometals reports further progress on legal matters with respect to its manganese stockpiles at Port Santana.

The Fifth Court of the Regional Federal Court of the 1st Region ("Fifth Court") has decided to release sixty-five thousand metric tones of manganese ore stored at the Santana Port, in the State of Amapa to be commercialized by Mandel Management Corporation and Ironman Mining Corporation.

Briefly, the case involved an incidental writ of prevention submitted by Mandel Management Corporation and Ironman Mining Corporation, as plaintiffs (File 2006.01.00.041964-AP) having as defendants Alto Tocantins Mineracao Ltda. and Tocantins Mineracao S/A, the State of Amapa and the Federal Union, such writ subordinated to a local legal procedure, Appeal # 2005.32.00.000418-9/AP, also under the scrutiny of the same court.

Appeal # 2005.32.00.000418-9/AP dealt with, among other things, the ownership of the manganese ore piles deposited in Serra do Navio and Santana Port. On October 1st, 2008 a decision was issued stating that it was an unquestioned fact that Tocantins Mineracao S/A, successor to Industria e Comercio de Minerios S/A - ICOMI, was responsible for extraction of the manganese ore and consequently the owner of the mineral, as per legislation in force.

Part of such manganese ore, representing the above mentioned sixty-five thousand metric tones of manganese ore stored at the Santana Port, in the State of Amapa, was subject to legal pledge contract with company Duferco Participations Holding Limited, entered on January 27, 2006. Later the debt guaranteed by the sixty-five thousand metric tones of manganese ore was duly paid to Duferco Participations Holding Limited by Ironman Mining Corporation that was subrogated in all rights deriving from the legal pledge contract.

The subrogation was formally accepted by Tocantins Mineracao S/A, as evidenced in the files of the writ of prevention permitting that a court order to be issued releasing sale by Mandel Management Corporation and Ironman Mining Corporation of the sixty-five thousand metric tones in stock at the private port terminal of the Municipality of Santana, State of Amapa.

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.

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

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