ECU Silver Mining Inc.
TSX VENTURE : ECU

ECU Silver Mining Inc.

October 19, 2006 17:05 ET

ECU Silver Mining, Inc.: Discovery on Level 18 of New Massive Sulfide Vein of 7.74 Meters '25.4 feet' Yielding 18.57 g/t Gold, 41 g/t Silver, 0.89% Pb and 1.99% Zn;

A4 Vein on level 18 has been opened for 30 meters '98.4 feet' with last 15 meters '49.2 feet' yielding 6.08 g/t Au, 206 g/t Ag, 2.34% Pb, 5.24% Zn and 0.41% Cu over 2.17 meters '7.1 feet' of width.

TORREON, COAHUILA--(CCNMatthews - Oct. 19, 2006) - ECU Silver Mining Inc. (TSX VENTURE:ECU) 'the Company' is pleased to announce new assay results from underground development and diamond drilling on level 18 in the Tres Aguilas sector of the Santa Juana mine.

A4 vein at Santa Juana Mine - western sector of Level 18:

Recently, the Company opened the A4 vein on level 18 and began drifting south-east along the vein. The Company is pleased to announce that 30 meters (98.4 feet) of drifting along the A4 vein has been completed and consistent with all recent discoveries, the grades and thicknesses improve as drilling proceeds deeper through each level.

Level 18 is the deepest level of the mine reached at this juncture in the Company's development program. Points of significance relating to these particular findings are as follows:

1) The average grades over the entire 30 meters (98.4 feet) were 4.78 g/t Au, 176 g/t Ag, 1.8% Pb, 3.36% Zn and 0.45% Cu over 1.78 meters (5.84 feet) of width. See Table 1 below;

2) The last 15 meters (49.2 feet) of drifting along the vein averaged 6.08 g/t Au, 206 g/t Ag, 2.34% Pb, 5.24% Zn and 0.41% Cu over 2.17 meters (7.11 feet) of true thickness;

3) Actual data continues to confirm our model that higher grades and wider thicknesses should be encountered as development and drilling continue deeper. The Company perceives this as most significant as results demonstrate that the average width of the A4 vein is higher than what has been observed on the levels above and;

4) There is a further 70 meters (230feet) of drifting still remaining along the A4 vein on level 18 before reaching the projection of hole TA 17.5-11 discussed below. Furthermore, there is an additional 70 meters (230feet) to be opened beyond hole TA 17.5-11 to south-east before the limits of the property are reached. If the trend of better grades and wider intercepts remains consistent then the remaining 140 meters (459 feet) of drifting along the A4 vein may continue to yield similar or better results then those already reported. Readers are cautioned that actual data may vary significantly from expected results;

5) At this time, the A4 vein has been confirmed to extend vertically about 150 meters above level 18 and about 400 meters below actual workings on level 18, for a total of 550 meters (1804 feet). Readers are cautioned that until further data is collected from the A4 vein below level 18, there are no guarantees that the mineralization will be of economic interest.



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TABLE 1 - ASSAYS FROM A4 VEIN - LEVEL 18
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Vein Sample # Width m Au g/t Ag g/t Pb % Zn % Cu %
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A4 level 18 38649 0.30 10.70 241 3.17 1.06 0.41
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A4 level 18 38651-52-53 2.00 2.91 105 0.08 0.04 0.26
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A4 level 18 38674-75-76 2.00 1.86 83 0.13 0.11 0.69
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A4 level 18 38775 0.60 7.70 411 8.62 3.75 0.39
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A4 level 18 38777 2.00 0.45 104 0.06 0.02 0.64
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A4 level 18 38818-19 1.10 4.09 234 0.12 0.13 0.46
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A4 level 18 38820-21 2.40 4.16 60 1.12 4.72 0.10
------------------------------------------------------------------------
A4 level 18 38822-23 3.00 7.02 247 3.70 9.43 0.55
------------------------------------------------------------------------
A4 level 18 38846-47-
48-49-50-51 2.70 7.28 182 1.29 3.18 0.63
------------------------------------------------------------------------
A4 level 18 38864-65 1.65 6.53 360 4.85 5.13 0.22
------------------------------------------------------------------------

------------------------------------------------------------------------
Average (30 meters) 1.78 4.75 176 1.80 3.36 0.45
------------------------------------------------------------------------


New massive sulfide vein discovered via drill hole TA 17.5 -11- Eastern sector of Level 18:

In an effort to test the continuation of the level 17.5 stockwork zone at depth as well as to test for the mineralized green skarn, the Company drilled hole 17.5 -11 that was initiated from inside the stockwork zone on level 17.5. The Company is pleased to announce that hole TA 17.5 -11 intersected the downward continuation of veins found in the cross-cut of the 17.5 level where the "stockwork" zone was originally identified. For point of reference, there are about 25 meters of vertical height between the 17.5 and 18 levels. (see Company's press release May 8, 2006)

Hole TA 17.5 -11 first cut veins before reaching a massive sulfide (mostly pyrite) vein, that yielded ultimately 18.57 g/t gold, 41 g/t silver, 0.89% lead and 1.99% zinc over a core length of 7.71 meters (25.2 feet) with an estimated true thickness of about 3.5 meters (11.48 feet). See table 2 below.

To date, this is the thickest massive sulfide intercept that has ever been found in the mine. It occurred about 15 meters below level 17.5 and about 70 meters ahead of the current A4 vein drift workings as reported above.



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TABLE 2
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DRILL HOLE # TA 17.5-11
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Sample # From To Core Au Ag Pb Zn Cu Comment
(m) (m) Length g/t g/t % % %
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39012 0 0.3 0.3 10.30 12 0.06 0.01 0.02 Vein
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39013 0.3 0.79 0.49 9.40 37 0.11 0.01 0.03 Vein
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39014 2.88 3.1 0.22 0.60 20 0.01 0 0.02 Veinlet
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39015 4.01 4.36 0.35 0.30 6 0.01 0.01 0.03 Veinlet
------------------------------------------------------------------------
39016 8.5 9.3 0.8 0.15 8 0.01 0 0.03 Veinlet
------------------------------------------------------------------------
39017 11.68 12.73 1.05 0.10 4 0 0.01 0.02 Veinlet
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39018 12.73 14.23 1.5 22.7 33.00 0.67 1.29 0.11 Massive sulf.
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39020 14.23 15.73 1.5 6.45 72 2.35 6.08 0.16 Massive sulf.
------------------------------------------------------------------------
39021 15.73 17.23 1.5 33.10 74 1.04 2.56 0.16 Massive sulf.
------------------------------------------------------------------------
39022 17.23 18.73 1.5 28.70 23 0.47 0.24 0.03 Massive sulf.
------------------------------------------------------------------------
39023 18.73 20.44 1.71 3.95 9 0.02 0.03 0.03 Massive sulf.
------------------------------------------------------------------------

------------------------------------------------------------------------
Massive
sulfide 12.73 20.44 7.71 18.57 41 0.89 1.99 0.10 Vein
------------------------------------------------------------------------

Total 10.92m
section 0 20.44 20.44 7.40 17 0.34 0.75 0.04 assayed
------------------------------------------------------------------------


Summary and possible implications of latest results:

The Company's objective for drifting on level 18 and drilling beyond is to attempt to gather evidence to demonstrate the continuity of the stockwork zones already discovered on levels 15 and 17.5. Simply stated, the Company would like to confirm if the zones on all these levels are a part of one large mineralized corridor system as opposed to being individual blocks scattered on various levels in the Santa Juana mine.

The Company is presently in the process of mapping out the latest discoveries which will make our exploration program easier to follow and understand. It is imperative to understand that this newly discovered massive sulfide vein between level 17.5 and level 18 is parallel and about 10 meters north-east of the A4 vein, both part of what is referred to as the stockwork zone. This point is crucial as the Company is now almost certain that when a cross-cut is driven on level 18 which is to occur shortly, both the A4 vein and the new discovered massive sulfide vein will be intersected. Although these latest findings suggest favorable grades may be encountered in the cross-cut, until actual data is collected, there are no guarantees that they will be.

For the reader's point of reference, the initial stockwork zone discovered on level 17.5 lies between the A4 vein to the north-east and the Santa Juana vein to south-west and these two veins run parallel to one another with a slight dip to the north-east. From actual data, it is known that level 17.5 stockwork zone has a width of approximately 30 meters (98.4 feet) and that the lateral extension of the A4 vein on the upper levels exceeds 150 meters (492 feet) in this section of the mine. Furthermore, current development work shows that the lateral extension of the A4 vein on level 18 could reach approximately 170 meters (558 feet).

Based on the most recent assay results from:

a) The first 30 meters of drifting along the A4 vein on level 18;

b) The new massive sulfide vein found just above level 18 ; and

c) The actual data collected from TA 17.5-11 makes it clear that the veins found in level 17.5 stockwork zone extend towards level 18 and are getting wider.

The Company is of the opinion that the numerous veins contained within the limits of the "stockwork" zone on level 17.5 could be thicker on level 18. Readers are once again cautioned that actual data may vary significantly from expected results.

"The Company is pleased with these latest findings from level 18. Furthermore, with the full implementation of an additional two drills expected to begin shortly, our exploration program should accelerate nicely." noted Michel Roy, president and chief executive officer of ECU Silver Mining.

The Company continues to develop level 18 and will report results as they become available. Additionally, a cross cut to check the stockwork zone projection on level 18 is scheduled to get under way shortly.

Lastly, hole 17.5 -11 has reached a further 100 meters below level 18 and initial core samples suggest that our green mineralized skarn (skarn#1) was intercepted again. Results are pending.

All widths from the drift are true widths while the widths from drilling represent the core length and may not be representative of the true width. 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. To ensure the Company is positioned for continued growth and expansion, and to take full advantage of the current record setting metals prices, the Company has a fully operational infrastructure in place, several months of planned production available from the current stopes, and ongoing exploration programs.

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.



Head Office
Rouyn-Noranda
Québec, Canada
J9Y 1G9
Tel: (819) 797-1210
Fax: (819) 797-1214

Corporate Office
J. I. Jiménez 663
colonia Los Angeles
Torreón, Coahuila,
México, 27000
Tel: (01152)-871-717-8633
Fax: (01152)-871-718-5025


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