EcuaGold Resources Ltd.

EcuaGold Resources Ltd.

September 19, 2007 09:00 ET

EcuaGold Resources Ltd. Reports Initial Curiplaya Project Drill Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 19, 2007) - EcuaGold Resources Ltd. ("the Company" or "EcuaGold") (TSX VENTURE:EGR) is pleased to report initial drilling results from the Company's Curiplaya Project, located in southern Ecuador, Loja Province, within the "Dynasty Copper-Gold Belt". The Phase I drilling program, planned initially for up to 5,000 metres of diamond core drilling (approximately 20 drill holes), commenced on June 5, 2007. The program was designed to test three broad target areas (Bramaderos, Melonal and Porotillos) within the Core Zone of a copper-gold porphyry stockwork system. The drill collars were selected based on results of geologic mapping and soil grid sampling along with induced polarization (IP) and ground magnetic surveys.

To date, 15 drill holes have been completed, and assays have been received for the first 11 drill holes. Drill holes 3-14 tested principally the cores of the Porotillos and Bramaderos intrusives.

"The drilling has confirmed a large area of strong, porphyry-style alteration carrying widespread anomalous copper, gold and silver values," stated Tony Ciali, President and CEO of Ecuagold. "Attention is now being directed to investigating the interpreted sulfidic halo surrounding the intrusive cores."

The inner part of these pyrite-rich phyllic halo zones typically carry the economic copper values associated with a copper-gold porphyry style system. Hole 15 is the first of six holes planned to test the annular zone of chargeability highs. This final stage of the Phase I drilling program is expected to be completed by the end of October, with final assays received during the second half of November. The estimated total metres for the Phase I drilling program has been increased to approximately 7,000 metres, principally because several holes have been drilled to deeper depths than originally planned.

Geology at the Curiplaya Project comprises Cretaceous andesite volcanic and sedimentary rocks intruded by at least two Tertiary quartz diorite porphyry plugs (Porotillos and Bramaderos), where hydrothermal alteration and mineralization are centered. Potassic (biotite-orthoclase) alteration is associated with quartz, magnetite, anhydrite and/or sulphide veins, veinlets and stockworks as well as disseminated magnetite, pyrite, and chalcopyrite. These central potassic zones are surrounded by widespread (15 square kilometres) phyllic and propylitic alteration in a pattern characteristic of mineralized porphyry systems. Soil surveys along with rock outcrop and trench sampling at Curiplaya defined two large zones of anomalous gold, copper and silver, along with molybdenum, centered on the Porotillos and Bramaderos quartz diorite porphyry plugs. Lead and zinc anomalies surround these centers in a metallogenic zonation pattern also typical of mineralized porphyry systems. The Porotillos and Bramaderos quartz porphyry plugs show up as IP chargeability lows, and these are surrounded by strong chargeability highs, interpreted as fringing pyrite-rich phyllic alteration zones in a pattern further characteristic of mineralized porphyry systems.

Quality Assurance / Quality Control:

EcuaGold has put in place a detailed QA/QC program consistent with Canadian Securities Administrators National Instrument 43-101 and using best industry practices. The program includes chain of custody of samples; standards and blanks submitted to the independent Inspectorate Lab in Lima Peru with each batch of samples; and a check assay program on a proportion of sample pulps with a second independent laboratory. The results of the QA/QC program to date have been satisfactory.

Dr. William F. Lindqvist, a director of Ecuagold, is the Qualified Person in compliance with National Instrument 43-101 with respect to this release.

Highlights from the 11 holes drilled to date:

DRILL HOLE m m m g/t g/t %

EGCU-003 260 294 34 1.20 2.94 0.04
including 260 276 16 2.05 3.95 0.03
which includes 270 276 6 3.38 3.63 0.03
EGCU-005 170 180 10 0.64 1.32 0.14
including 170 172 2 0.96 1.70 0.18
including 176 180 4 0.99 1.85 0.20
EGCU-005 264 294 30 0.46 1.15 0.11
including 274 282 8 0.86 1.58 0.16
EGCU-006 0 36 36 0.27 0.57 0.18
Including 22 30 8 0.18 0.68 0.43
which includes 24 26 2 0.01 1.40 1.23
EGCU-007 16 24 8 0.53 0.30 0.03
including 16 18 2 1.28 0.60 0.04
EGCU-008 78 84 6 0.66 1.77 0.13
including 80 84 4 0.80 2.00 0.15
which includes 82 84 2 0.99 1.70 0.14
EGCU-009 142 153 11 0.42 2.50 0.14
including 148 150 2 0.72 6.90 0.24

The above table reflects drilled intervals and all assays
are uncut.

Drill holes EGCU-001, 002, 004, 010 and 011 did not
report any significant assay values. A summary table of
all 11 drill hole assays can be found on the Company's

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 two other concessions, and has applications pending with the Ministry of Energy and Mines for 21 additional concessions. EcuaGold's land position currently exceeds 34,000 hectares, comprising nine distinct projects, and will approximate 99,000 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 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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