ECU Silver Mining Inc.
TSX : ECU

ECU Silver Mining Inc.

May 17, 2010 03:00 ET

ECU Silver Yields Assays of 18 grams Gold and 966 grams Silver

TORONTO, ONTARIO--(Marketwire - May 17, 2010) - ECU Silver Mining Inc. (TSX:ECU) is very pleased to announce assay results which include samples that ranged up to 129.2 grams per tonne (g/t) of gold (Au) and up to 6,573 g/t of silver (Ag).

Highlights of these results are:

    Assays include some of the best results in the main Velardeña Property to date;
       
    Widths and grades defined through development are significantly better than previous drill results reported in the Company's last mineral resource report for the same area;
       
    Development work is providing important information to increase mineral resources as well as to upgrade existing inferred resources.

The assay results include 81 samples (see Table 1) collected from underground development work on the north-western extensions of the CC and C1 veins on level 19, currently the deepest level of development, at the Santa Juana Mine on the main Velardeña Property.

Table 1 - Assay Results on North-Western Extensions of Level 19 Drifts

Vein Samples Length Thickness Gold Silver Lead Zinc
  Nb (m) (m) (g/t) (g/t) (%) (%)
C1 37 111 0.27 18.16 966 2.98 2.46
CC 44 132 1.25 12.94 807 2.42 2.14

The recent assay results represent the north-western extension of the Santa Juana mine and some of the best results encountered so far in the mine. The Company intends to continue exploration efforts in this area based on the very encouraging results so far. The north-west extension of this area has never been explored and results to date suggest robust continuity of the CC and C1 veins in that direction.

As in many other areas of Velardeña, the grades and widths of the veins evidenced by actual underground workings are much better than those obtained in previous diamond drilling. As such, the assay results are significantly better than the grades and widths reported in the Company's last mineral resource report for the same corresponding areas. For example, the mineral resources for the C1 vein in that area were classified as inferred with average width of 1.27 metres and grading 3.70 g/t Au, 173 g/t Ag, 0.46% Pb and 2.10% Zn. By comparison, the new results represent an increase in precious metals contents of about 10% but the resources in that area would now be classified as measured. The mineral resources for the CC vein in that area were classified as inferred with average width of 1.51 metres grading 1.94 g/t Au, 127 g/t Ag, 0.80% Pb and 2.40% Zn. By comparison, the new results represent an increase in precious metals contents of more than 500% and the mineral resources in that area would also be upgraded to measured.

These results validate the importance of exploration by driving drifts in new areas where veins have been previously defined by drilling. These drifts are designed for development and mining but also brings new exploration information that will enable an upgrade of the resources in those areas.

Other areas of the Santa Juana mine are also being developed in a similar manner and results are being compiled. These other areas are host to numerous veins and several of these veins, and group of veins, are yielding very encouraging results. The Company plans on reporting further results of its underground work in the near future.

Additional Information

Readers are cautioned that until a prefeasibility study is completed, there are no assurances these latest mineralized zones will be economically viable.

All widths are true widths. Samples were assayed at the ERSA laboratory in Torreón, Coahuila, Mexico. 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 Silver

ECU Silver Mining Inc. is focused on the exploration, development and mining of gold, silver and base metals at its Velardeña District Properties in Durango, Mexico. The Company holds a NI 43-101 compliant mineral resource of 40 million silver equivalent (0.6 million gold equivalent) ounces in the measured and indicated category and 391 million silver equivalent (6.0 million gold equivalent) ounces in the inferred category. The Company also owns two mills with a combined capacity of 820 tonnes per day. ECU's mission is to become a pre-eminent silver and gold producer through the development of its existing and potential mineral resources at Velardeña.

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 www.sedar.com 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.
    Michel Roy
    Chairman and CEO
    Torreon, Mexico
    011 52 871 747 5750
    or
    ECU Silver Mining Inc.
    Stephen Altmann
    President
    Toronto, Canada
    (416) 366-2428
    Fax: (416) 366-8131
    or
    ECU Silver Mining Inc.
    Mark Butler
    Investor Relations
    Toronto, Canada
    (905) 602-4248
    www.ecu.ca