ECU Silver Mining Inc.

ECU Silver Mining Inc.

August 17, 2006 14:57 ET

ECU Silver Mining Inc.-Press Release

TORREON, COAHUILA--(CCNMatthews - Aug. 17, 2006) - ECU Silver Mining Inc. (TSX VENTURE:ECU) -

- Hole TA 17.5-10 returned 7.78 g/t Au over 6.0 meters (19.7 feet);

- Intercept grading 43.9 g/t Gold over 0.64 meter (2.1 feet);

- Stockwork zone yields significantly higher Gold values as the system goes from a calcite-rich to sulfide-rich geological environment;

- New cross-cuts on level 15, assay results pending.

ECU Silver Mining Inc. "the Company" is pleased to announce results from drill hole TA 17.5-10 which returned highly impressive assays averaging 7.78 g/t Au over 6.0 meters from a portion of the stockwork zone. Results from TA 17.5-10 indicate significantly higher gold concentrations below level 17.5 immediately under the cross-cut where the original discovery was made (See ECU's press release 2006-05-08).

On May 8, 2006, the Company first reported this completely new discovery and mineralization type which consisted of fractures filling of a host rock by mineralized veins and veinlets. The initial discovery found a host of calcite-rich veins and veinlets between the 'A4' and the "Santa Juana" veins, in the cross-cut walls.

Location of hole TA 17.5-10 relative to original discovery

As reported previously, the stockwork zone is opened both to the south-east and north-west horizontally and up and down vertically. Today's announcement describes the findings in drill hole TA 17.5-10 which started close to one end of the same stockwork zone and cut it at a -45 degree angle.

The Company is pleased to report that the geological model now being defined, as confirmed by assays, suggests that the cluster of small veins close to the major A4 vein are going from a calcite-rich to a sulfide-rich geological system yielding much higher gold grades immediately below the 17.5 level.

Highlights of assays from Hole TA 17.5-10 include:

- 14.8 meters (48.4 feet) grading 5.13 g/t Au, 22 g/t Ag, 0.45% Pb and 0.50% Zn;

- Included in the 14.8 meters intercept is 6.0 meters (19.7 feet) grading 7.78 g/t Au, 38 g/t Ag, 0.99% Pb and 1.18% Zn in hole #TA 17.5-10;

- Also included in the 14.8 meters is a 0.64 meter (2.1 feet) vein grading 43.9 g/t Au and 50 g/t Ag.

Significance of latest data from stockwork zone:

The importance of the latest data are:

1) There could be definable enriched sections in the stockwork zone that could be mined separately, therefore improving mining grades and ore value while still lowering costs by using bulk mining type methods;

2) With the on-going increase in gold grades as we proceed deeper, our geological model that a major feeder system exists at depth continues to accumulate further evidence that indeed this will be the case; and

3) The entire stockwork zone, even the latest findings below level 17.5, is accessible with existing infra-structure, now that our development work has given us full access to level 18.

DRILL HOLE # TA 17.5-10
From To Core Au Ag Pb Zn
Sample # (m) (m) Length g/t g/t % % Comment
38192 0.04 0.98 0.94 18.35 42 0.99 1.5
38193 1.59 1.83 0.24 17.1 83 2.47 0.33
38194 1.83 2.49 0.66 17.9 50 1.05 0.1
38195 3.52 4.01 0.49 16.2 142 4.18 6.37
38196 5.47 5.99 0.52 9.6 94 2.97 4.35
38201 14.15 14.79 0.64 43.9 50 0.8 0.19
38221 23 24.5 1.50 0.75 143 0.14 0.11
section 0.04 26.65 26.61 3.00 25 0.27 0.30 Stockwork
Including 0.04 14.79 14.75 5.13 22 0.45 0.50
Including 0.04 5.99 5.95 7.78 38 0.99 1.18

"The Company is extremely pleased with the results from hole #TA 17.5-10 testing a portion of the stockwork zone below level 17.5. We are especially encouraged by the change from a calcite-rich to a pyrite-rich vein type with the corresponding increase in gold grades. With the recent development workings reaching level 18 which has already yielded some superb grades and these new assay results from a portion of the stockwork zone, the Company is confident that it is getting ever closer to reaching the feeder system to this entire section of the mine. Not only do we continue to get better grades at depth, but there also seems to be sectors in the upper levels that are exhibiting geological features strikingly close to those of the stockwork zone. There is little doubt at this time that bulk mining operations will have to be implemented going forward as, despite of all the major discoveries to date, we are still in the early stages of our planned drilling program," noted Michel Roy, president and chief executive officer of ECU Silver Mining.

Following the initial discovery of the stockwork zone, the Company began sampling other areas of the Santa Juana mine to look for geological environments similar to those exhibited by the stockwork zone. That is, to look for areas that had closely spaced parallel continuous veins with good grades close to the Santa Juana and A4 veins. The Company is pleased to announce that this investigation, started in the upper levels of the mine, has already found a sector of interest near the Santa Juana vein on level 15. Several short cross-cuts were driven to test and sample this sector and assays are pending.

All the samples represent the core length and may not be representative of the true width. Samples were assayed at ERSA, in Torreon, Coahuila, Mexico. Property specific quality control samples were inserted at regular intervals in the sample sequence.

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
Quebec, Canada
J9Y 1G9
Tel : (819) 797-1210
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Corporate Office
J. I. Jimenez 663
colonia Los Angeles
Torreon, Coahuila,
México, 27000
Tel: (01152)-871-717-8633
Fax: (01152)-871-718-5025

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