ECU Silver Mining Inc.

ECU Silver Mining Inc.

May 04, 2009 08:00 ET

ECU Silver Adopts Shareholder Rights Plan

TORONTO, ONTARIO--(Marketwire - May 4, 2009) - ECU Silver Mining Inc. ("ECU Silver" or the "Company") (TSX:ECU) announced today that its Board of Directors has adopted a shareholder rights plan (the "Rights Plan"). The Rights Plan, which took effect May 1, 2009, has been adopted to ensure the fair treatment of shareholders in the event of any take-over offer for the Company's common shares.

The Rights Plan is not intended to prevent take-over bids that treat shareholders fairly. Bids that meet certain requirements intended to protect the interests of all shareholders are deemed to be "Permitted Bids" under the Rights Plan. Permitted Bids are offers to acquire common shares of the Company made by way of take-over bid circular and which must, among other requirements described in the Rights Plan, remain open for at least 60 days.

ECU Silver is not adopting the Rights Plan in response to, or in anticipation of, any specific take-over bid or proposal to acquire control of the Company. The Rights Plan is similar to plans adopted by other Canadian companies. The full text of the Rights Plan will be available under the Company's profile on the SEDAR website at

Although effective as of May 1, 2009, the Rights Plan is subject to ratification by the Company's shareholders at the upcoming annual meeting of shareholders scheduled to be held on June 4, 2009. If so ratified by shareholders, the Rights Plan must be confirmed at every third annual meeting thereafter. If not so ratified by shareholders, the Rights Plan and all of the Rights outstanding at the time will terminate.

The Toronto Stock Exchange has conditionally accepted the Rights Plan, subject to ratification by the shareholders of the Company.


ECU Silver is focused on the exploration, development and mining of precious 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 40,000,000 silver equivalent ounces and an inferred mineral resource of 391,000,000 silver equivalent ounces. ECU Silver'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.

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 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.
    Stephen Altmann
    (416) 366-2428
    (416) 366-8131 (FAX)