EcuaGold Resources Ltd.
TSX VENTURE : EGR

EcuaGold Resources Ltd.

May 01, 2007 09:00 ET

EcuaGold Resources Ltd.-Curiplaya Project Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 1, 2007) - EcuaGold Resources Ltd. ("the Company" or "EcuaGold") (TSX VENTURE:EGR) is pleased to provide the following update on the status of the Company's Curiplaya Project ("the Project"), located in southern Ecuador within Dynasty Metals and Mining's "Dynasty Copper-Gold Belt". Upon the Ministry of Energy and Mines' approval of the Project's Environmental Impact Study in March 2007, EcuaGold's geologists initiated the exploration program outlined in the Project's NI 43-101 report prepared in connection with the Company's IPO and TSX Venture Exchange listing on January 12, 2007.

Work to date on the Project's "Core Zones" (Bramaderos, Porotillos and Melonal Targets) includes:

- Completion of the exploration grid (32 Km) and soil geochemical sampling. Assay results are pending.

- Completion of more than 50% of mapping within the Core Zones.

- Completion of the magnetic survey - report expected during the week of April 30, 2007.

- A signed IP survey contract - work to commence during the week of April 30, 2007, and a report expected in early June.

In connection with the mapping program, EcuaGold has discovered three vein structures so far, two of which are to be confirmed with more detailed local mapping and trenching. The third vein structure is related to a mineralized stockwork zone outcropping in a dry streambed and extending for +/- 300 metres. This stockwork zone also contains other important geological structures such as quartz veins, diorite dykes, and breccia bodies hosted in porphyritic rocks. The discovery of vein structures is noteworthy because Curiplaya has been previously viewed principally as a Cu-Au porphyry target, and there has been no mention of the significance of vein structures in the reported results of previous exploration programs.

"Of importance, the significance of 'structurally controlled mineralization' within the Curiplaya Project is also becoming apparent," stated Anthony F. Ciali, EcuaGold's President & CEO. "We look forward to the completion of the detailed mapping program within the Core Zones, with the expectation that new drill targets, related to vein structures, may be identified."

In the coming weeks, interpretation of aerial photographs of the Project will be completed to assist with the structural and detailed geological mapping program; a renewed emphasis will be placed on the detailed mapping of the Core Zones; and key target areas will be trenched.

The results of the above programs will enable EcuaGold to establish the final drill collars for the Project's Phase I drilling program (3,000 metres), which is planned for June / July 2007. Pursuant to its existing contract, EcuaGold has informed Kluane International Drilling Inc. ("Kluane") of its requirement for a drill rig at the Project, and Kluane has confirmed that a drill rig should be available to meet EcuaGold's timetable.

Mr. John E. Bolanos, the Company's General Manager - Ecuador, is responsible for the exploration program at the Curiplaya Project and has reviewed the technical information that forms this news release. Mr. Bolanos has over 15 years experience as a geologist working in Ecuador and has a Masters Degree in Mining Geology (M. Sc.) from the Camborne School of Mines in the UK and an undergraduate degree in geological engineering from the Central University in Ecuador.

About EcuaGold Resources:

EcuaGold Resources Ltd. is engaged in the acquisition, exploration and potential development of primarily precious metals properties in Ecuador. The company presently controls a 100% interest in 11 concessions, has an option to earn a 100% interest in another concession and has applications pending with the Ministry of Energy and Mines for 17 additional concessions. EcuaGold's land position currently exceeds 31,000 hectares, comprising eight distinct projects, and will approximate 82,000 hectares if the pending concession applications are granted in full.

The majority of EcuaGold's concessions are located in southern Ecuador, a highly prospective region that is currently host to a number of projects. These include, among others, Aurelian Resources' Condor Project, IAMGOLD's Quimsacocha Project, International Minerals' Rio Blanco and Gaby Projects and Dynasty Metals & Mining's Copper-Gold Belt, Jerusalem and Zamora Projects.

EcuaGold's principal properties are the Molleturo Project, a high-grade polymetallic vein system, and the Curiplaya Project, a gold-copper porphyry system. NI 43-101 Reports were recently prepared for each project in connection with EcuaGold's TSX Venture Exchange listing on January 12, 2007.

On Behalf of the Board of Directors of EcuaGold Resources Ltd.

Anthony F. Ciali, President, CEO and Director

The statements contained in this news release that are not purely historical are forward-looking statements. Forward-looking statements may relate to the success of any of the company's strategic initiatives, the company's expectations, beliefs, growth and future prospects, and the company's position in the market and future opportunities therein. Forward-looking statements may also include, without limitation, any express or implied statement relating to future events, industry performance, general business and economic conditions or circumstances, regulatory and legal requirements, and other matters, many of which are beyond the control of the company. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. All forward-looking statements included in this news release are based upon information available to the company as of the date hereof and the company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.

No stock exchange has approved or disapproved the information contained herein.

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