SOURCE: El Capitan Precious Metals, Inc.

September 05, 2007 07:30 ET

El Capitan Precious Metals, Inc. Announces Confirmation of Fire Assay Development Work

RENO, NV--(Marketwire - September 5, 2007) - El Capitan Precious Metals, Inc. (OTCBB: ECPN) President & Chief Executive Officer, Ken Pavlich, announced today that continuing efforts by M.H.S. Research have resulted in the achievement of an important metallurgical milestone. This milestone was reached as part of the ongoing development of a reliable fire assay procedure to be used on the Company's El Capitan deposit exploration samples. This work indicates that industry "standard" fire assay procedures can be used to determine El Capitan material gold and silver grades, and it confirms previous modified fire assay procedures that have shown substantially higher gold and silver content than reported by earlier caustic fusion results.

To develop a fire assay bench mark, M.H.S. personnel conducted a series of replicate standard fire assay procedures on three samples of a composite derived from the Company's Phase I drilling. The following table compares these standard fire assay results to earlier determinations used in the calculation of the El Capitan mineral resource.

Fire Assay Development Work Summary (Gold & Silver only)

Assay Description                   Gold       Silver   Gold
                                    Au(opt)    Ag(opt)  Equivalent
                                                        from Au & Ag

Replicate "Standard" Fire Assay
(Aug-07)                            0.024      1.543    0.052
Caustic Fusion
(Pre-2007)                          0.010      0.104    0.012


Note: Above data derived from 15 drill-hole interval composite sample
prepared in 2006 from Phase I drilling data.

The results of this work have identified the following significant results:

--  Standard fire assay procedures confirm the accuracy of the modified
    fire assay work performed earlier this year.
--  The replicate assay process (eight times each) did not reach a "no
    metal recovery" stage, indicating remaining upside potential for metal
    recovery.
--  Gold and silver values indicate upside opportunity when compared to
    previous caustic fusion analyses.
--  Platinum group metal (PGM) generally does not respond well to fire
    assay techniques.  PGM analysis will be addressed through further work with
    traditional nickel sulfide PGM assay procedures.
    

Mr. Pavlich stated, "Perhaps the most important news contained in this release is that the gold and silver content was determined using strictly standard fire assay procedures run in a replicate mode. Additionally, these results continue to support management's belief that while the caustic fusion process was a valid measurement of a portion of the precious metal in the El Capitan deposit, it was not an accurate measurement of the total precious metal content in the material."

The Company has instructed M.H.S. Research to continue R&D work on the testing and completion of a modified fire assay technique that can be used in a commercial lab setting, since multiple replicate assaying is not well suited to commercial applications.

M.H.S. will also identify and commercialize an optimal nickel sulfide PGM assay procedure. These processes will then be used to re-assay the 2,300 drill hole samples from the Phase 1, 2, and 3 drilling performed in 2005 and 2006. This will allow the Company to re-calculate resources based upon the expected higher gold and silver grade of the deposit.

Mr. Pavlich noted, "Management believes that the results of this important assay development work may ultimately provide shareholders with the opportunity to witness another meaningful increase in the current Measured Resource value."

Mr. Pavlich concluded, "This effort, which begins the process of bringing the El Capitan deposit analytical information into the mainstream of the precious metals industry, represents the sixth step in the strategic effort to reposition ECPN as an important precious metal investment opportunity. ECPN, along with its partner Gold and Minerals Company, controls what we believe to be one of the largest undeveloped, surface mineable precious metals deposits in the continental United States."

A document regarding this work, "Fire Assay Development Update Report," is available on the Company website through the following link:

http://www.elcapitanpmi.com/reports/FireAssayUpdateReport.pdf

About El Capitan Precious Metals, Inc.

El Capitan Precious Metals, Inc. is a U.S. based mineral exploration company whose primary asset is a 40% interest in the El Capitan precious metals project, located in Lincoln County, New Mexico. The Company's stock trades on the Over-the-Counter Bulletin Board under the symbol ECPN.

Forward-Looking Statements

Statements herein which are not historical facts, such as estimates of the volume and grade of mineral deposits, future production levels, exploration results and plans, costs, and prices are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price and production volatility, exploration risks and results, discrepancies between different types of testing methods, some or all of which may not be industry standard, political risks, permitting risks, project development risks and ability to raise financing. For a more detailed discussion of risks and other factors that may impact these forward looking statements please refer to the Risk Factors and other discussion contained in the Company's quarterly and annual periodic reports on Forms 10-QSB and 10-KSB on file with the SEC. The Company undertakes no obligation and has no intention of updating forward-looking statements.

For further information, please visit the company's website at www.ElCapitanPMi.com.

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