ECU Silver Mining Inc.

ECU Silver Mining Inc.

November 15, 2006 16:05 ET

ECU Silver Mining Inc.: Acquires Two Additional Properties

- Acquisition of the San Agustin claim block; - Acquisition of the Denisse property. - On the Denisse property a brecciated structure is encountered over 30 meters '98.4 feet' wide and 800 meters '2624 feet' in length

TORREON, COAHUILA--(CCNMatthews - Nov. 15, 2006) - ECU Silver Mining Inc. (TSX VENTURE:ECU) 'the Company' is pleased to announce the acquisition of two new properties in Mexico. The company considers both acquisitions to be important land claims that will compliment and enhance our current land base in Mexico.

Purchase of strategic land claims - The San Agustin claim block

The San Agustin claim adjoins our Chicago property whose acquisition was reported (Company's press release dated May 11th, 2006). The San Agustin claim was an outright purchase for US$70,000. The Company is of the opinion that our Chicago property may play a major role in future resources expansion and the outright acquisition of the San Agustin claim will give the Company firmer control on the favorable geology in the Chicago mine area. Furthermore, the Company intends to have a surface drill initiate a drilling program on the Chicago property in the near future. Recent preliminary work on existing data on the Chicago claims revealed similar geological traits to our Santa Juana mine and the Company has decided to explore the Chicago property sooner rather then later.

Purchase of a second of strategic land claims- The Denisse property

The Company also wishes to report that is has also acquired the Denisse property. This property comprises 4 claims totaling 1,250 hectares and was purchased for a total sum of US$500,000 over three years, of which US$50,000 having been paid on signing of the agreement, and a 2% Net Profit Royalty that can be purchased for US$300,000. The Denisse claims are located in the East part of the Sierra del Jaguey, 29 km south of Torreon and 23 km north-east of our San Diego project.

The Sierra del Jaguey, oriented NW-SE, is part of the parallel sierras and valleys forming the north-western part of Mexico. It is underlained mostly by limestones of the Aurora Formation dipping to the north-east at 25-30 degrees.

The mineralization discovered on the Denisse property is contained in the matrix of a silicified breccia zone striking E-W. The breccia zone is 30 meters wide and has been delineated over a strike length of 800 meters. The mineralization consists mostly of galena (lead sulfide), cerusite (lead oxide), iron oxides and quartz forming the matrix of the breccia.

In the preliminary evaluation of the property, channel and grab samples were taken by the Company's geologist and assayed yielding the following results:


Description Sample # Width m Au g/t Ag g/t Pb % Zn %
Channel sample 37600 1.50 0.80 28 1.15 0.12
Channel sample 37601 0.70 0.05 12 0.07 0.02
Channel sample 37602 0.22 0.90 56 28.75 0.15
Channel sample 37603 2.00 0.10 40 2.79 0.12
Grab sample 38516 0.25 17 0.62 0.29
Channel sample
high sector 38519 3.20 0.00 12 0.63 0.40
Channel sample
high sector 38520 2.70 1.10 13 4.70 0.80
Grab sample 38521 0.10 12 46.78 0.07
Grab sample 38522 0.60 27 80.73 0.11
Grab sample 38523 0.20 35 79.80

The grades reflect the highly irregular distribution of the mineralization with high to very high lead contents in the matrix when it is mostly galena or cerusite but lower contents when the host rock is included as well. This is typical for breccias as demonstrated in other similar deposits.

"The Company is pleased with the additions of these two properties, and our aim is to continue to accumulate further land claims that the Company perceives to have good potential in Mexico," noted Michel Roy, president and chief executive officer of ECU Silver Mining.

Given the size of the brecciated structure outlined to date (30 meters wide delineated over a strike length of 800 meters), the Company's plans to start a trenching program to evaluate the strength of the mineralization in the near future. This would be followed by a drilling program if justified by the results of the trenching.

All widths are true widths. Samples were assayed at ERSA, in Torreon, Coahuila, Mexico, this laboratory is currently in the process of being certified, and at SGS in Durango, Durango, 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.

ECU Silver Mining Inc is a junior Gold, Silver, Zinc and Lead producer in the prolific mining district of Velardena, Mexico where historically over 500,000 ounces of gold and 250,000,000 ounces of silver have been mined. Full scale production began in May 2005 at the Company's Santa Juana mine.

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.
    Michel Roy
    President and Chief Executive Officer
    (416) 644-8640
    ECU Silver Mining Inc.
    Richard Buzbuzian
    Vice President
    (416) 644-8640