EcuaGold Resources Ltd.

EcuaGold Resources Ltd.

May 07, 2007 14:05 ET

EcuaGold Resources Ltd.-William F. Lindqvist Appointed Technical Advisor to the Board

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 7, 2007) - EcuaGold Resources Ltd. ("the Company" or "EcuaGold") (TSX VENTURE:EGR) is pleased to announce the appointment of Dr. William F. Lindqvist as technical advisor to the Board of Directors. Dr. Lindqvist, an independent consulting geologist, has over 34 years of senior international exploration experience. He has served as Vice President of Exploration for Homestake Mining Company, Executive General Manager of Exploration for Newcrest Mining and General Manager-North American Exploration for Gold Fields Mining Corporation (a Consolidated Gold Fields Group company). During his long career, Dr. Lindqvist was closely involved in the discovery and development of a number of deposits, including Chimney Creek, Mesquite, Ortiz, Mule Canyon and Ruby Hill (United States); Gosowong (Indonesia); and Cadia East (Australia).

Dr. Lindqvist earned a B.Sc. in Engineering from the Otago School of Mines, New Zealand; a B.Sc. (Honours) in Economic Geology from the University of Adelaide, Australia; and a Ph.D. in Applied Geology from the Royal School of Mines, London, England. He is a member of the Australian Institute of Mining and Metallurgy, the Society of Economic Geologists and the American Institute of Mining Engineers. Dr. Lindqvist also serves as a director of Solomon Resources Limited (TSX: SRB), Uruguay Mineral Exploration Inc. (TSXV: UME) and Plutonic Power Corporation (TSX: PCC).

The Company granted incentive stock options to Dr. Lindqvist to purchase up to 300,000 common shares. The options have been granted for a period of five (5) years at $0.50 per share. The granting of the said options is subject to acceptance by the applicable securities regulatory authorities and, if applicable, ratification by the shareholders of the Company.

"Dr. Lindqvist brings an enormous amount of international exploration experience to EcuaGold and will be a valuable asset to the Board and management," stated Anthony F. Ciali, EcuaGold's President & CEO. "Personally, I am delighted to have the opportunity to work with him again. Dr. Lindqvist and I worked closely for a number of years while we were both associated with the Consolidated Gold Fields Group."

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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