ECU Silver Mining Inc.
TSX VENTURE : ECU

ECU Silver Mining Inc.

March 30, 2007 08:30 ET

ECU Silver Announces New Assays From Level 18 Within the Mineralized Corridor at the Santa Juana Mine

TORONTO, ONTARIO--(CCNMatthews - March 30, 2007) - Mr. Michel Roy, Chairman and CEO of ECU Silver Mining Inc. (TSX VENTURE:ECU) is pleased to announce the Company has received assays from several new cuts within the Mineralized Corridor (the "MC") on level 18 of the Santa Juana mine (first reported in the Company's press release dated December 18, 2006).

Highlights are:

- Seven cross-cuts yielding an average of 2 g/t gold, 90 g/t silver, 0.22% lead, 0.49% zinc and 0.21% copper over 19.8 meters (65 feet) of width and 250 meters (820 feet) of length.

- Results Included:

-- Cut 18-045 that averaged 2.84 g/t gold, 108 g/t silver over 10.85 meters (35.5 feet) of width;

-- Cut 18-090 intercept that averaged 19.33 g/t Gold and 159 g/t silver over 2.3 meters (7.54 feet) of width;

-- Cut 18-190 intercept that averaged 2.36 g/t gold, 204 g/t silver over 4.18 meters (13.7 feet) of width;

-- Cut 18-215 intercept that averaged 1.26 g/t gold, 159 g/t silver over 20.64 meters (68 feet) of width.

Level 18 Cross-Cuts

The recent development and exploration work on level 18 consisted of driving new cross-cuts from a new access drift and connecting these access drifts to the Company's previous development and exploration work on the west side of the Tres Aguilas fault. The primary purpose of these workings was to gather further information to enable the Company to continue building its data base on the MC which will ultimately be used by the Company in assessing possible future production plans.

The most recent work completed shows two options will be considered for bulk mining. The first will consider mining the MC over its entire width as one mining unit and the second to mine packages of veins that show lateral and vertical continuity within the MC. Economic models will be built for both scenarios in order for the Company to choose the most economically effective option.

To better orient the reader, the MC strikes in a north-west to south-east direction with cross-cuts driven in a north-east to south-west direction which cut perpendicular to the strike of the MC. "Cross-cuts" differ from "cuts" in that the cross-cuts contain wall samples whereas cuts also include drill-hole data.

See table 1 below for assay results.

Significance of level 18 cross-cuts

The results shown below confirm the continuity of high grade mineralized packages within the MC for 250 meters laterally. The Company is proceeding with more cuts to verify other packages within the above mentioned 250 meters. In addition, more cuts are planned for a further 120 meters extending north-west from the westerly most section of the MC and a further 45 meters extending south-east from the easterly most section of the MC. Once this is completed, the information necessary to calculate resources blocks for the MC and/or the high grade mineralized packages within the MC for level 18 will have been gathered, analyzed, and reported to shareholders in a timely manner.

Readers are cautioned that until a pre-feasibility study is completed, there are no assurances that this mineralized zone will be economically viable.



---------------------------------------------------------------------------
Table 1
LEVEL 18 ASSAYS IN MINERALIZED CORRIDOR
---------------------------------------------------------------------------
Gold Silver Lead Zinc Copper
Type Name Width (m) (g/t) (g/t) (%) (%) (%)
---------------------------------------------------------------------------
Cut 18-045 10.85 2.84 108 0.33 0.81 0.76
---------------------------------------------------------------------------

---------------------------------------------------------------------------
x-cut 18-090 32.32 2.91 50 0.11 0.02 0.10
---------------------------------------------------------------------------
x-cut Incl. 2.30 19.33 159 0.60 0.06 0.26
---------------------------------------------------------------------------
x-cut Incl. 13.17 2.20 83 0.09 0.04 0.17
---------------------------------------------------------------------------
x-cut Incl. 10.00 1.86 11 0.01 0.01 0.03
---------------------------------------------------------------------------
x-cut 18-090 32.70 0.86 35 0.06 0.02 0.09
---------------------------------------------------------------------------

---------------------------------------------------------------------------
x-cut 18-113 26.95 0.88 75 0.22 0.16 0.10
---------------------------------------------------------------------------
x-cut Incl. 4.65 1.29 105 0.99 0.71 0.07
---------------------------------------------------------------------------
x-cut Incl. 6.30 2.10 182 0.13 0.10 0.26
---------------------------------------------------------------------------
x-cut 18-113 26.00 0.72 47 0.07 0.02 0.08
---------------------------------------------------------------------------
x-cut Incl. 3.92 1.99 55 0.24 0.05 0.07
---------------------------------------------------------------------------
x-cut Incl. 5.50 1.72 173 0.09 0.05 0.25
---------------------------------------------------------------------------

---------------------------------------------------------------------------
x-cut 18-190 49.49 0.66 39 0.07 0.06 0.05
---------------------------------------------------------------------------
x-cut Incl. 4.18 2.36 204 0.02 0.13 0.31
---------------------------------------------------------------------------
x-cut Incl. 12.05 1.48 76 0.21 0.20 0.06
---------------------------------------------------------------------------
x-cut Incl. 10.41 0.92 32 0.01 0.01 0.06
---------------------------------------------------------------------------

---------------------------------------------------------------------------
Cut 18-150 16.72 2.37 55 0.08 0.09 0.23
---------------------------------------------------------------------------

---------------------------------------------------------------------------
x-cut 18-215 20.64 1.26 159 0.17 0.80 0.30
---------------------------------------------------------------------------

---------------------------------------------------------------------------
SJ 18-07 18-295 17.83 0.82 36 0.53 1.88 0.06
---------------------------------------------------------------------------

---------------------------------------------------------------------------
Average of packages 19.79 2.00 90 0.22 0.49 0.21
---------------------------------------------------------------------------


Cut #18-045

Cut #18-045 is the eastern most cut completed on level 18 so far, further delineating the eastern extension of the MC at level 18. Cut #18-045 includes drill hole SJ 18-09 and continues to confirm the lateral extent of the MC with excellent results in the portion opened so far, namely 2.84 g/t gold, 108 g/t silver, 0.33% lead, 0.81% zinc and 0.76% copper over 10.85 meters. The Company's development and exploration are continuing in the eastern extent of the MC on level 18.

Cross-cut #18-090

Cross-cut #18-090 (initially reported on January 26th and also February 14th), is driven 45 meters north-west of #18-045 and is only 20 meters north-west of the downward projection of the level 17.5 stockwork. The interpretation of the veins package yielded three intercepts of interest that can be correlated within nearby cross-cuts.

Cross-cut #18-113

Cross-cut #18-113 is driven 23 meters laterally further north-west from cross-cut 18-090. The interpretation of the packages in this cross-cut delineated two packages with high grades from both walls of the cross-cuts.

Cut #18-150

Cut #18-150 is located 37 meters north-west of cross-cut #18-113. It includes a short portion of drift and a cut from drill hole SJ 18-05 to yield a total of 2.37 g/t gold and 55 g/t silver over 16.72 meters.

Cross-cut #18-190

Cross-cut #18-190 is 40 meters north-west of cut #18-150 and was driven 120 meters north-west of the downward projection from our original level 17.5 stockwork zone discovery as reported by the Company in April of 2006. The interpretation of the veins package yielded three intercepts of interest that can be correlated within nearby cross-cuts.

Cross-cut #18-215

Cross-cut #18-215 is a new drift that was also designed to reach a position which would facilitate the downward continuation of the internal Santa Juana shaft from level 17 to level 18. The Company will prepare two loading pockets on level 18 and a second holding bin on level 12 to double the current hoisting capacity of the internal Santa Juana shaft. While driving this drift, an important package of veins was cut which yielded very interesting results of 1.26 g/t Au and 159 g/t Ag over 20.64 meters to date. This cross-cut will continue for another 35 meters.

Hole SJ 18-07

Drill hole SJ 18-07 was drilled on section 295 to cut the package of B veins. Again good results were obtained.

"We will continue to see more explorations results in the coming weeks and months ahead as we have five drills operating on our properties. On the Velardena property we have two drills at Santa Juana and one drill at San Mateo. We have one drill on the San Diego property and one drill on our Chicago property. We look forward to announcing our assay results as they become available." Reports Michel Roy, Chairman and CEO.

Furthermore, the Company wishes to announce that Mr. David Hu has resigned from the ECU board of directors. Mr. Hu has been a large supporter of ECU's growth strategy. Mr. Hu will focus his attention to his role as Managing Partner of IIG Capital and provide customized financing solutions to international companies including ECU. The Company wishes to thank Mr. Hu for all of his efforts and contributions he made and wishes him all the best in his future endeavors.

All widths are true widths. Samples were assayed at the ERSA laboratory in Torreon, Coahuila, Mexico which is currently in the process of being certified. Samples were also assayed at the SGS laboratory in Durango, Durango State, which is a certified laboratory. Property specific quality control samples were inserted at regular intervals in the sample sequence and the Company routinely does check assays at other certified laboratories.

Mr. Michel Roy, P. Geo., a "qualified person" within the meaning of NI 43-101, prepared the technical information disclosed in this news release.

About ECU

ECU Silver Mining Inc. is a Canadian silver and gold mining and exploration company with executive offices in Toronto, Ontario, that is involved in the evaluation, development and mining of precious metal deposits in Mexico. The Company owns the historically prolific, 564-hectare Velardena Property which holds five mines and a milling operation in the state of Durango, Mexico. ECU's goal is to become one of Mexico's largest producing silver mines. ECU's common shares are listed on the TSX Venture Exchange under the trading symbol ECU.

Statements in the release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We undertake no duty to update any forward-looking statement to conform the statements to actual results or changes in our expectations.

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

Contact Information

  • ECU Silver Mining Inc.
    Stephen Altmann
    President
    (416) 644-8640
    or
    ECU Silver Mining Inc.
    Richard Buzbuzian
    Vice President
    (416) 644-8640
    (416) 644-8801 (FAX)
    Website: www.ecu.ca